Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income (Unaudited)

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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest and dividend income:        
Interest and fees on loans and leases $ 53,708 $ 47,971 $ 105,283 $ 93,349
Interest on securities 3,198 2,949 6,302 5,468
Dividends on FHLB stock 283 283 572 657
Interest on deposits in other banks 133 123 247 200
Total interest and dividend income 57,322 51,326 112,404 99,674
Interest expense:        
Interest on deposits 9,465 6,463 17,250 11,617
Interest on borrowings 1,015 49 1,694 517
Interest on subordinated debentures 1,728 1,636 3,421 2,009
Total interest expense 12,208 8,148 22,365 14,143
Net interest income before provision for loan and lease losses 45,114 43,178 90,039 85,531
Loan and lease loss provision 100 422 749 342
Net interest income after provision for loan and lease losses 45,014 42,756 89,290 85,189
Noninterest income:        
Service charges on deposit accounts 2,328 2,461 4,839 4,989
Trade finance and other service charges and fees 1,149 1,269 2,322 2,316
Gain on sales of Small Business Administration (SBA) loans 1,408 2,668 2,856 4,132
Disposition gains on Purchased Credit Impaired (PCI) loans 11 540 144 723
Net gain (loss) on sales of securities 67 938 (361) 1,206
Other operating income 982 1,826 2,206 3,551
Total noninterest income 5,945 9,702 12,006 16,917
Noninterest expense:        
Salaries and employee benefits 17,453 16,623 36,155 33,727
Occupancy and equipment 4,082 3,878 8,154 7,861
Data processing 1,554 1,738 3,231 3,369
Professional fees 1,214 1,554 2,583 2,702
Supplies and communications 693 745 1,401 1,379
Advertising and promotion 1,034 1,015 1,911 1,817
Merger and integration costs (income) 380 (9) 380 (40)
Other operating expenses 3,100 3,400 5,453 5,366
Total noninterest expense 29,510 28,944 59,268 56,181
Income before income tax expense 21,449 23,514 42,028 45,925
Income tax expense 5,901 9,057 11,625 17,685
Net income $ 15,548 $ 14,457 $ 30,403 $ 28,240
Basic earnings per share (in usd per share) $ 0.48 $ 0.45 $ 0.94 $ 0.88
Diluted earnings per share (in usd per share) $ 0.48 $ 0.45 $ 0.94 $ 0.87
Weighted-average shares outstanding:        
Basic (shares) 32,189,096 32,078,038 32,167,111 32,040,113
Diluted (shares) 32,336,775 32,243,034 32,316,648 32,216,671