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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
INTEREST INCOME        
Loans and fees $ 58,563 $ 49,181 $ 175,324 $ 142,384
Federal funds sold and interest-bearing deposits with banks 695 533 1,297 844
Taxable investment securities and other 5,007 4,141 14,865 12,160
Tax-exempt investment securities 361 427 1,165 1,299
TOTAL INTEREST INCOME 64,626 54,282 192,651 156,687
INTEREST EXPENSE        
Deposits 13,267 8,429 37,526 20,685
Federal funds purchased and securities sold under agreements to repurchase 231 42 1,333 409
Other borrowings 2,446 2,187 7,306 6,240
TOTAL INTEREST EXPENSE 15,944 10,658 46,165 27,334
NET INTEREST INCOME 48,682 43,624 146,486 129,353
Provision for loan losses 536 1,046 1,044 3,822
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 48,146 42,578 145,442 125,531
NONINTEREST INCOME        
Service charges on deposit accounts 2,851 2,614 8,179 7,770
Commissions and fees 1,545 1,414 4,682 4,096
Income on bank owned life insurance 691 1,127 2,064 2,557
Gain on equity securities 72 (439) 525 (384)
Gains on sales of loans 486 484 1,285 1,030
Other income 1,055 439 2,077 1,613
Total Noninterest Income 6,700 5,639 18,812 16,682
NONINTEREST EXPENSE        
Salaries and employee benefits 19,062 17,352 57,672 50,921
Net occupancy expense 2,767 2,316 8,350 7,657
Furniture and equipment 2,084 2,070 6,365 6,287
FDIC insurance expense (420) 400 431 1,225
Stationery, supplies and postage 366 371 1,214 1,230
Marketing expense 423 343 1,430 1,160
Data processing expense 1,248 1,083 3,800 2,525
Telecommunications expense 480 438 1,451 1,321
ATM and debit card expense 588 556 1,773 1,624
Core deposit intangible amortization 288 142 893 452
Other real estate and repossessed asset expense 29 45 223 112
Merger related expenses 0 0 3,178 0
Other expenses 2,648 2,677 8,453 7,990
TOTAL NONINTEREST EXPENSE 29,563 27,793 95,233 82,504
Income before provision for income taxes 25,283 20,424 69,021 59,709
Provision for income taxes 6,409 3,666 17,064 11,858
NET INCOME $ 18,874 $ 16,758 $ 51,957 $ 47,851
PER SHARE OF COMMON STOCK        
Basic earnings (in usd per share) $ 0.37 $ 0.35 $ 1.02 $ 1.00
Diluted earnings (in usd per share) 0.37 0.35 1.02 0.99
Common stock, dividends price per share (in usd per share) $ 0.125 $ 0.115 $ 0.365 $ 0.330