XML 79 R4.htm IDEA: XBRL DOCUMENT v3.2.0.727
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
INTEREST INCOME:        
Loans, including fees $ 33,616 $ 30,110 $ 65,207 $ 60,272
Taxable investment securities 1,779 1,908 3,552 3,767
Federal Home Loan Bank stock and other 327 387 724 863
Total interest income 35,722 32,405 69,483 64,902
INTEREST EXPENSE:        
Deposits 1,021 937 2,165 1,915
Securities sold under agreements to repurchase and other short-term borrowings 17 22 55 44
Federal Home Loan Bank advances 2,997 3,267 5,925 6,831
Subordinated note 629 629 1,258 1,258
Total interest expense 4,664 4,855 9,403 10,048
Net interest income 31,058 27,550 60,080 54,854
Provision for loan and lease losses 904 693 1,089 (10)
Net interest income after provision for loan and lease losses 30,154 26,857 58,991 54,864
NON-INTEREST INCOME:        
Service charges on deposit accounts 3,247 3,563 6,286 6,858
Net refund transfer fees 1,907 1,836 17,242 16,224
Mortgage banking income 1,224 812 2,577 1,298
Interchange fee income 2,044 1,681 4,238 3,725
Gain on sale of securities available for sale 88   88  
Net loss on other real estate owned (155) (69) (274) (551)
Increase in cash surrender value of bank owned life insurance 353 379 702 570
Other 777 879 1,612 1,672
Total non-interest income 9,485 9,081 32,471 29,796
NON-INTEREST EXPENSES:        
Salaries and employee benefits 14,323 13,965 29,600 28,448
Occupancy and equipment, net 5,142 5,508 10,343 11,330
Communication and transportation 771 856 1,817 1,882
Marketing and development 977 803 1,562 1,331
FDIC insurance expense 474 414 1,148 983
Bank franchise tax expense 847 831 3,248 3,170
Data processing 1,092 874 2,058 1,671
Interchange related expense 931 847 1,938 1,844
Supplies 219 60 580 500
Other real estate owned expense 120 308 339 698
Legal and professional fees 528 438 2,143 949
Other 1,741 1,380 3,463 3,677
Total non-interest expenses 27,165 26,284 58,239 56,483
Income before income tax expense 12,474 9,654 33,223 28,177
Income tax expense 4,154 3,332 11,115 9,871
Net income $ 8,320 $ 6,322 $ 22,108 $ 18,306
Class A Common Stock        
BASIC EARNINGS PER COMMON SHARE:        
Basic earnings per share (in dollars per share) $ 0.40 $ 0.31 $ 1.07 $ 0.88
DILUTED EARNINGS PER COMMON SHARE:        
Diluted earnings per share (in dollars per share) 0.40 0.30 1.07 0.88
DIVIDENDS DECLARED PER COMMON SHARE:        
Dividend declared per common share (in dollars per share) 0.198 0.187 0.385 0.363
Class B Common Stock        
BASIC EARNINGS PER COMMON SHARE:        
Basic earnings per share (in dollars per share) 0.37 0.29 0.97 0.85
DILUTED EARNINGS PER COMMON SHARE:        
Diluted earnings per share (in dollars per share) 0.36 0.29 0.97 0.85
DIVIDENDS DECLARED PER COMMON SHARE:        
Dividend declared per common share (in dollars per share) $ 0.18 $ 0.17 $ 0.35 $ 0.33