|
Consolidated Statements of Income (USD $) In Thousands, except Per Share data, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
| Interest income: |
|
|
|
| Interest and fees on loans |
$ 58,155 |
$ 45,304 |
$ 48,832 |
| Interest on investments |
8,982 |
5,436 |
5,839 |
| Other investment income |
237 |
245 |
208 |
| Total interest income |
67,374 |
50,985 |
54,879 |
| Interest expense: |
|
|
|
| Interest bearing demand |
982 |
732 |
1,051 |
| Savings |
31 |
22 |
23 |
| Time |
1,270 |
1,045 |
2,017 |
| Other borrowings |
6 |
970 |
1,908 |
| Total interest expense |
2,289 |
2,769 |
4,999 |
| Net Interest Income (Loss) after Provision for Loan Losses |
|
|
|
| Net interest income |
65,085 |
48,216 |
49,880 |
| Loan loss provision |
0 |
1,000 |
1,100 |
| Net interest income after loan loss provision |
65,085 |
47,216 |
48,780 |
| Non-interest income: |
|
|
|
| Service charges on deposit accounts |
4,621 |
3,031 |
3,244 |
| Card issuer and merchant services fees, net |
6,213 |
3,310 |
2,632 |
| Earnings on BOLI |
986 |
862 |
1,022 |
| Mortgage banking income, net |
2,296 |
4,261 |
4,319 |
| Swap fee income |
1,847 |
430 |
0 |
| Small Business Administration Loans Sales And Fee Income |
1,120 |
507 |
0 |
| Other income |
3,088 |
2,052 |
1,874 |
| Total non-interest income |
20,171 |
14,453 |
13,091 |
| Non-interest expense: |
|
|
|
| Salaries and employee benefits |
41,421 |
32,651 |
31,559 |
| Occupancy |
9,131 |
4,931 |
4,598 |
| Information technology |
4,346 |
2,488 |
1,842 |
| Equipment |
1,963 |
1,583 |
1,547 |
| Communications |
2,263 |
1,496 |
1,541 |
| FDIC insurance |
1,517 |
1,542 |
2,519 |
| OREO expense |
988 |
529 |
1,725 |
| Professional services |
8,121 |
4,249 |
3,999 |
| Increase (decrease) in reserve for unfunded loan commitments |
0 |
0 |
(1,110) |
| Prepayment penalties on FHLB borrowings |
0 |
3,827 |
0 |
| Card Issuer Expense |
2,903 |
1,392 |
986 |
| General Insurance Expense |
1,214 |
659 |
682 |
| Other expenses |
7,474 |
5,623 |
5,953 |
| Total non-interest expense |
81,341 |
60,970 |
55,841 |
| Income before income taxes |
3,915 |
699 |
6,030 |
| Income tax (provision) benefit |
(178) |
50,146 |
(79) |
| Net income |
$ 3,737 |
$ 50,845 |
$ 5,951 |
| Basic and diluted income per share: |
|
|
|
| Net income per common share (basic) (in dollars per share) |
$ 0.06 |
$ 1.08 |
$ 0.13 |
| Net income per common share (diluted) (in dollars per share) |
$ 0.06 |
$ 1.07 |
$ 0.13 |