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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest and fees on loans        
Taxable $ 30,918 $ 27,315 $ 60,548 $ 53,572
Tax exempt 111 117 222 234
Interest and dividends on securities        
Taxable 2,297 2,002 4,843 4,450
Tax exempt 947 842 1,842 1,671
Interest on short-term investments 82 14 110 27
Total interest income 34,355 30,290 67,565 59,954
Interest on deposits 4,694 3,930 8,889 7,578
Interest on borrowings        
Short-term 99 35 246 95
Long-term 289 261 575 517
Total interest expense 5,082 4,226 9,710 8,190
NET INTEREST INCOME 29,273 26,064 57,855 51,764
Provision for loan losses 0 0 0 0
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 29,273 26,064 57,855 51,764
NONINTEREST INCOME        
Wealth advisory fees 1,133 1,106 2,293 2,290
Investment brokerage fees 212 311 500 803
Service charges on deposit accounts 2,843 2,573 5,623 4,947
Loan, insurance and service fees 1,892 1,900 3,730 3,469
Merchant card fee income 527 431 1,024 847
Bank owned life insurance income 489 360 662 735
Other income 587 681 515 1,635
Mortgage banking income 384 351 711 740
Net securities gains 0 0 52 42
Total noninterest income 8,067 7,713 15,110 15,508
NONINTEREST EXPENSE        
Salaries and employee benefits 10,592 9,444 20,197 19,167
Net occupancy expense 1,041 915 2,137 1,999
Equipment costs 909 913 1,810 1,829
Data processing fees and supplies 2,120 1,938 4,152 3,705
Corporate and business development 763 714 1,620 1,504
FDIC insurance and other regulatory fees 557 511 1,080 997
Professional fees 859 728 1,686 1,417
Other expense 1,605 1,578 3,148 3,024
Total noninterest expense 18,446 16,741 35,830 33,642
INCOME BEFORE INCOME TAX EXPENSE 18,894 17,036 37,135 33,630
Income tax expense 6,091 5,656 12,053 11,114
NET INCOME $ 12,803 $ 11,380 $ 25,082 $ 22,516
BASIC WEIGHTED AVERAGE COMMON SHARES [1] 25,045,251 24,917,961 25,032,502 24,901,784
BASIC EARNINGS PER COMMON SHARE [1] $ 0.51 $ 0.46 $ 1 $ 0.9
DILUTED WEIGHTED AVERAGE COMMON SHARES [1] 25,395,770 25,230,078 25,370,607 25,193,860
DILUTED EARNINGS PER COMMON SHARE [1] $ 0.5 $ 0.45 $ 0.99 $ 0.89
[1] Share and per share data has been adjusted for a 3-for-2 stock split in the form of a stock dividend on August 5, 2016.