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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest and fees on loans        
Taxable $ 36,967 $ 30,918 $ 71,414 $ 60,548
Tax exempt 162 111 312 222
Interest and dividends on securities        
Taxable 2,364 2,297 4,684 4,843
Tax exempt 1,274 947 2,436 1,842
Interest on short-term investments 54 82 102 110
Total interest income 40,821 34,355 78,948 67,565
Interest on deposits 6,243 4,694 11,685 8,889
Interest on borrowings        
Short-term 431 99 741 246
Long-term 328 289 642 575
Total interest expense 7,002 5,082 13,068 9,710
NET INTEREST INCOME 33,819 29,273 65,880 57,855
Provision for loan losses 500 0 700 0
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 33,319 29,273 65,180 57,855
NONINTEREST INCOME        
Wealth advisory fees 1,284 1,133 2,534 2,293
Investment brokerage fees 299 212 620 500
Service charges on deposit accounts 3,253 2,843 6,396 5,623
Loan, insurance and service fees 1,897 1,892 3,790 3,730
Merchant card fee income 570 527 1,108 1,024
Bank owned life insurance income 402 489 873 662
Other income 659 587 1,168 515
Mortgage banking income 378 384 509 711
Net securities gains 49 0 52 52
Total noninterest income 8,791 8,067 17,050 15,110
NONINTEREST EXPENSE        
Salaries and employee benefits 11,065 10,592 22,486 20,197
Net occupancy expense 1,154 1,041 2,274 2,137
Equipment costs 1,156 909 2,231 1,810
Data processing fees and supplies 1,974 2,120 3,990 4,152
Corporate and business development 1,196 763 2,698 1,620
FDIC insurance and other regulatory fees 419 557 853 1,080
Professional fees 801 859 1,755 1,686
Other expense 1,587 1,605 3,113 3,148
Total noninterest expense 19,352 18,446 39,400 35,830
INCOME BEFORE INCOME TAX EXPENSE 22,758 18,894 42,830 37,135
Income tax expense 7,394 6,091 12,952 12,053
NET INCOME $ 15,364 $ 12,803 $ 29,878 $ 25,082
BASIC WEIGHTED AVERAGE COMMON SHARES 25,183,186 25,045,251 25,167,799 25,032,502
BASIC EARNINGS PER COMMON SHARE $ 0.61 $ 0.51 $ 1.19 $ 1
DILUTED WEIGHTED AVERAGE COMMON SHARES 25,619,977 25,395,770 25,618,552 25,370,607
DILUTED EARNINGS PER COMMON SHARE $ 0.6 $ 0.5 $ 1.17 $ 0.99