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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
INTEREST INCOME        
Loans and fees $ 59,119,000 $ 47,659,000 $ 116,761,000 $ 93,203,000
Federal funds sold and interest-bearing deposits with banks 348,000 145,000 602,000 311,000
Taxable investment securities and other 4,985,000 4,027,000 9,858,000 8,019,000
Tax-exempt investment securities 396,000 429,000 804,000 872,000
TOTAL INTEREST INCOME 64,848,000 52,260,000 128,025,000 102,405,000
INTEREST EXPENSE        
Deposits 12,762,000 6,501,000 24,259,000 12,256,000
Federal funds purchased and securities sold under agreements to repurchase 494,000 233,000 1,102,000 367,000
Other borrowings 2,394,000 2,033,000 4,860,000 4,053,000
TOTAL INTEREST EXPENSE 15,650,000 8,767,000 30,221,000 16,676,000
NET INTEREST INCOME 49,198,000 43,493,000 97,804,000 85,729,000
Provision for loan losses 0 1,492,000 508,000 2,776,000
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 49,198,000 42,001,000 97,296,000 82,953,000
NONINTEREST INCOME        
Service charges on deposit accounts 2,755,000 2,545,000 5,328,000 5,156,000
Commissions and fees 1,725,000 1,410,000 3,137,000 2,682,000
Income on bank owned life insurance 690,000 711,000 1,373,000 1,430,000
Gain on equity securities 100,000 73,000 453,000 55,000
Gains on sales of loans 428,000 300,000 799,000 546,000
Other income 691,000 670,000 1,022,000 1,174,000
TOTAL NONINTEREST INCOME 6,389,000 5,709,000 12,112,000 11,043,000
NONINTEREST EXPENSE        
Salaries and employee benefits 19,379,000 16,708,000 38,610,000 33,569,000
Net occupancy expense 2,629,000 2,603,000 5,583,000 5,341,000
Furniture and equipment 2,165,000 2,011,000 4,281,000 4,217,000
FDIC insurance expense 401,000 400,000 851,000 825,000
Stationery, supplies and postage 401,000 443,000 848,000 859,000
Marketing expense 538,000 456,000 1,007,000 817,000
Data processing expense 1,225,000 976,000 2,552,000 1,442,000
Telecommunications expense 478,000 462,000 971,000 883,000
ATM and debit card expense 583,000 558,000 1,185,000 1,068,000
Core deposit intangible amortization 301,000 153,000 605,000 310,000
Other real estate and repossessed asset expense 108,000 21,000 194,000 67,000
Merger related expenses 318,000 0 3,178,000 0
Other expenses 3,160,000 2,783,000 5,805,000 5,313,000
TOTAL NONINTEREST EXPENSE 31,686,000 27,574,000 65,670,000 54,711,000
Income before provision for income taxes 23,901,000 20,136,000 43,738,000 39,285,000
Provision for income taxes 6,444,000 4,298,000 10,655,000 8,192,000
NET INCOME $ 17,457,000 $ 15,838,000 $ 33,083,000 $ 31,093,000
PER SHARE OF COMMON STOCK        
Basic earnings (in usd per share) $ 0.34 $ 0.33 $ 0.65 $ 0.65
Diluted earnings (in dollars per share) 0.34 0.33 0.65 0.65
Common stock, dividends price per share (in dollars per share) $ 0.125 $ 0.115 $ 0.240 $ 0.215