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CONDENSED 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 $ 29,244 $ 21,988 $ 55,278 $ 44,009
Interest and dividends on securities 6,902 5,124 12,749 10,172
Interest on interest bearing deposits and other investments 433 249 723 498
TOTAL INTEREST INCOME 36,579 27,361 68,750 54,679
Interest on deposits 1,238 845 2,155 1,593
Interest on borrowed money 848 850 1,880 1,710
TOTAL INTEREST EXPENSE 2,086 1,695 4,035 3,303
NET INTEREST INCOME 34,493 25,666 64,715 51,376
Provision for loan losses 662 855 861 1,288
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 33,831 24,811 63,854 50,088
Noninterest income        
Service charges on deposits 2,230 2,115 4,359 4,117
Interchange income 2,370 2,033 4,587 3,770
Other income 4,511 4,698 8,795 8,267
Securities gains, net (includes net losses of ($19) and $0 in other comprehensive income reclassifications for the three months ended June 30, 2016 and 2015 respectively, and net gains of $28 and $0 for the six months ended June 30, 2016 and 2015, respectively.) 47 0 136 0
TOTAL NONINTEREST INCOME 9,158 8,846 17,877 16,154
Noninterest expenses        
Salaries and wages 13,884 9,301 27,283 18,090
Employee benefits 2,521 2,541 5,003 4,956
Outsourced data processing costs 2,803 2,234 7,242 4,418
Occupancy 3,645 2,011 6,617 4,034
Legal And Professional Fees 2,656 1,590 5,013 3,253
Other 9,299 6,611 15,991 12,723
TOTAL NONINTEREST EXPENSES 34,808 24,288 67,149 47,474
INCOME BEFORE INCOME TAXES 8,181 9,369 14,582 18,768
Provision for income taxes (includes $(7) and $0 in income tax benefit from reclassification items for the three months ended June 30, 2016 and 2015, respectively, and $11 and $0 in income tax provision for the six months ended June 30, 2016 and 2015, respectively.) 2,849 3,564 5,284 7,104
NET INCOME $ 5,332 $ 5,805 $ 9,298 $ 11,664
PER SHARE COMMON STOCK:        
Net income diluted (in dollars per share) $ 0.14 $ 0.18 $ 0.25 $ 0.35
Net income basic (in dollars per share) 0.14 0.18 0.26 0.35
Cash dividends declared $ 0 $ 0 $ 0 $ 0
Average shares outstanding - diluted (in shares) 38,141,550 33,233,508 36,797,259 33,184,764
Average shares outstanding - basic (in shares) 37,470,071 32,978,006 36,159,473 32,971,670