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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest and fees on loans $ 40,403 $ 31,932 $ 110,503 $ 87,210
Interest and dividends on securities 9,012 7,253 25,971 20,002
Interest on interest bearing deposits and other investments 664 429 1,778 1,152
TOTAL INTEREST INCOME 50,079 39,614 138,252 108,364
Interest on deposits 2,196 1,292 5,054 3,447
Interest on borrowed money 2,134 874 5,128 2,754
TOTAL INTEREST EXPENSE 4,330 2,166 10,182 6,201
NET INTEREST INCOME 45,749 37,448 128,070 102,163
Provision for loan losses 680 550 3,385 1,411
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 45,069 36,898 124,685 100,752
Noninterest income        
Other income 11,481 9,764 31,853 27,505
Securities gains (losses), net (includes net (losses) of $(2) and $(648) in other comprehensive income reclassifications for the three months ended September 30, 2017 and 2016, respectively, and net (losses) of $(25) and $(620) for the nine months ended September 30, 2017 and 2016, respectively) (47) 225 (26) 361
TOTAL NONINTEREST INCOME 11,434 9,989 31,827 27,866
TOTAL NONINTEREST EXPENSES 34,361 33,435 110,732 100,584
INCOME BEFORE INCOME TAXES 22,142 13,452 45,780 28,034
Provision for income taxes (includes $(1) and $(250) in income tax benefit from reclassification items for the three months ended September 30, 2017 and 2016, respectively, and $(10) and $(239) in income tax benefit for the nine months ended September 30, 2017 and 2016, respectively). 7,926 4,319 15,962 9,603
NET INCOME $ 14,216 $ 9,133 $ 29,818 $ 18,431
PER SHARE COMMON STOCK:        
Net income diluted (in dollars per share) $ 0.32 $ 0.24 $ 0.7 $ 0.49
Net income basic (in dollars per share) 0.33 0.24 0.72 0.5
Cash dividends declared (in dollars per share) $ 0 $ 0 $ 0 $ 0
Average shares outstanding - diluted (in shares) 43,792,108 38,169,863 42,298,136 37,258,133
Average shares outstanding - basic (in shares) 43,151,248 37,549,804 41,626,356 36,626,290