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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest and fees on loans $ 25,276 $ 14,615 $ 69,285 $ 42,516
Interest and dividends on securities 5,298 3,665 15,470 10,749
Interest on interest bearing deposits and other investments 249 211 747 725
TOTAL INTEREST INCOME 30,823 18,491 85,502 53,990
Interest on deposits 857 559 2,450 1,730
Interest on borrowed money 955 704 2,665 2,086
TOTAL INTEREST EXPENSE 1,812 1,263 5,115 3,816
INTEREST EXPENSE        
NET INTEREST INCOME 29,011 17,228 80,387 50,174
Provision (recapture) for loan losses 987 (1,425) 2,275 (3,604)
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 28,024 18,653 78,112 53,778
Noninterest income        
Other income 8,082 6,149 24,236 17,603
Securities gains, net (includes net losses of $494 and $325 in other comprehensive income reclassifications for the three months and nine months ended September 30, 2015, respectively, and net gains $368 and $1 for 2014, respectively) 160 344 160 361
TOTAL NONINTEREST INCOME 8,242 6,493 24,396 17,964
TOTAL NONINTEREST EXPENSES 29,127 19,889 76,601 59,355
INCOME BEFORE INCOME TAXES 7,139 5,257 25,907 12,387
Provision for income taxes (includes $191 and $125 in income tax expense from reclassification items for the three months and nine months ended September 30, 2015, respectively, and $142 and $0 in tax expense for 2014, respectively) 2,698 2,261 9,802 5,174
NET INCOME $ 4,441 $ 2,996 $ 16,105 $ 7,213
Net income (loss) per share of common stock        
Net income diluted (in dollars per share) $ 0.13 $ 0.12 $ 0.48 $ 0.28
Net income basic (in dollars per share) 0.13 0.12 0.48 0.28
Cash dividends declared (in dollars per share) $ 0.00 $ 0.00 $ 0 $ 0
Average shares outstanding - diluted (in shares) 34,193,540 26,025,693 33,524,718 25,894,881
Average shares outstanding - basic (in shares) 33,907,178 25,887,591 33,286,933 25,736,140