Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income (Unaudited)

v3.10.0.1
Consolidated Statements of Income (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest income:        
Interest and fees on loans $ 73,620,000 $ 59,912,000 $ 143,294,000 $ 115,468,000
Taxable securities 3,127,000 2,274,000 5,872,000 4,361,000
Nontaxable securities 623,000 752,000 1,279,000 1,517,000
Federal funds sold 694,000 287,000 1,245,000 806,000
Other interest and dividends 332,000 313,000 715,000 903,000
Total interest income 78,396,000 63,538,000 152,405,000 123,055,000
Interest expense:        
Deposits 11,714,000 6,321,000 21,335,000 12,303,000
Borrowed funds 2,160,000 1,650,000 4,112,000 3,133,000
Total interest expense 13,874,000 7,971,000 25,447,000 15,436,000
Net interest income 64,522,000 55,567,000 126,958,000 107,619,000
Provision for loan losses 4,121,000 4,381,000 8,260,000 9,367,000
Net interest income after provision for loan losses 60,401,000 51,186,000 118,698,000 98,252,000
Noninterest income:        
Securities gains 4,000
Increase in cash surrender value life insurance 786,000 785,000 1,563,000 1,509,000
Other operating income 475,000 385,000 882,000 775,000
Total noninterest income 5,459,000 4,805,000 10,328,000 9,351,000
Noninterest expenses:        
Salaries and employee benefits 13,098,000 12,031,000 26,394,000 23,744,000
Equipment and occupancy expense 2,113,000 2,265,000 4,067,000 4,505,000
Professional services 924,000 808,000 1,729,000 1,579,000
FDIC and other regulatory assessments 1,159,000 1,081,000 2,292,000 2,078,000
OREO expense 160,000 56,000 476,000 132,000
Other operating expenses 6,556,000 5,634,000 12,564,000 11,104,000
Total noninterest expenses 24,010,000 21,875,000 47,522,000 43,142,000
Income before income taxes 41,850,000 34,116,000 81,504,000 64,461,000
Provision for income taxes 8,310,000 9,952,000 15,361,000 17,778,000
Net income 33,540,000 24,164,000 66,143,000 46,683,000
Preferred stock dividends 31,000 31,000 31,000 31,000
Net income available to common stockholders $ 33,509,000 $ 24,133,000 $ 66,112,000 $ 46,652,000
Basic earnings per common share (in dollars per share) $ 0.63 $ 0.46 $ 1.24 $ 0.88
Diluted earnings per common share (in dollars per share) $ 0.62 $ 0.45 $ 1.22 $ 0.86
Deposit Account [Member]        
Noninterest income:        
Noninterest income $ 1,653,000 $ 1,382,000 $ 3,238,000 $ 2,736,000
Mortgage Banking [Member]        
Noninterest income:        
Noninterest income 789,000 1,064,000 1,307,000 1,963,000
Credit Card [Member]        
Noninterest income:        
Noninterest income $ 1,756,000 $ 1,189,000 $ 3,334,000 $ 2,368,000