CONSOLIDATED STATEMENTS OF INCOME - USD ($)
|
12 Months Ended |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
| INTEREST INCOME: |
|
|
|
| Loans, including fees |
$ 164,232,000
|
$ 133,958,000
|
$ 123,360,000
|
| Taxable investment securities |
7,876,000
|
7,046,000
|
7,481,000
|
| Federal Home Loan Bank stock and other |
1,884,000
|
1,428,000
|
1,536,000
|
| Total interest income |
173,992,000
|
142,432,000
|
132,377,000
|
| INTEREST EXPENSE: |
|
|
|
| Deposits |
6,058,000
|
4,380,000
|
3,905,000
|
| Securities sold under agreements to repurchase and other short-term borrowings |
65,000
|
92,000
|
112,000
|
| Federal Home Loan Bank advances |
10,900,000
|
11,934,000
|
13,072,000
|
| Subordinated note |
915,000
|
2,056,000
|
2,515,000
|
| Total interest expense |
17,938,000
|
18,462,000
|
19,604,000
|
| NET INTEREST INCOME |
156,054,000
|
123,970,000
|
112,773,000
|
| Provision for loan and lease losses |
14,493,000
|
5,396,000
|
2,859,000
|
| NET INTEREST INCOME AFTER PROVISION FOR LOAN AND LEASE LOSSES |
141,561,000
|
118,574,000
|
109,914,000
|
| NONINTEREST INCOME: |
|
|
|
| Service charges on deposit accounts |
13,176,000
|
13,015,000
|
13,807,000
|
| Net refund transfer fees |
19,240,000
|
17,388,000
|
16,130,000
|
| Mortgage banking income |
6,882,000
|
4,411,000
|
2,862,000
|
| Interchange fee income |
9,009,000
|
8,353,000
|
7,017,000
|
| Program fees |
3,044,000
|
1,233,000
|
591,000
|
| Increase in cash surrender value of bank owned life insurance |
1,516,000
|
1,402,000
|
1,329,000
|
| Gain on call of securities available for sale |
|
88,000
|
|
| Net gains (losses) on other real estate owned |
244,000
|
(301,000)
|
(2,218,000)
|
| Other |
4,398,000
|
2,405,000
|
3,001,000
|
| Total noninterest income |
57,509,000
|
47,994,000
|
42,519,000
|
| NONINTEREST EXPENSES: |
|
|
|
| Salaries and employee benefits |
69,882,000
|
58,091,000
|
54,373,000
|
| Occupancy and equipment, net |
21,777,000
|
20,689,000
|
22,008,000
|
| Communication and transportation |
4,256,000
|
3,752,000
|
3,866,000
|
| Marketing and development |
3,778,000
|
3,161,000
|
3,264,000
|
| FDIC insurance expense |
1,780,000
|
2,084,000
|
1,865,000
|
| Bank franchise tax expense |
4,757,000
|
4,734,000
|
4,616,000
|
| Data processing |
6,121,000
|
4,340,000
|
3,513,000
|
| Interchange related expense |
4,140,000
|
3,873,000
|
3,450,000
|
| Supplies |
1,406,000
|
1,101,000
|
1,009,000
|
| Other real estate owned expense |
503,000
|
735,000
|
1,024,000
|
| Legal and professional fees |
2,556,000
|
3,306,000
|
2,766,000
|
| FHLB advance prepayment penalty |
846,000
|
0
|
0
|
| Other |
8,305,000
|
7,458,000
|
6,364,000
|
| Total noninterest expenses |
130,107,000
|
113,324,000
|
108,118,000
|
| INCOME BEFORE INCOME TAX EXPENSE |
68,963,000
|
53,244,000
|
44,315,000
|
| INCOME TAX EXPENSE |
23,060,000
|
18,078,000
|
15,528,000
|
| NET INCOME |
$ 45,903,000
|
$ 35,166,000
|
$ 28,787,000
|
| Class A Common Stock |
|
|
|
| BASIC EARNINGS PER SHARE: |
|
|
|
| Basic earnings per share (in dollars per share) |
$ 2.22
|
$ 1.70
|
$ 1.39
|
| DILUTED EARNINGS PER SHARE: |
|
|
|
| Diluted earnings per share (in dollars per share) |
2.22
|
1.70
|
1.38
|
| DIVIDENDS DECLARED PER COMMON SHARE: |
|
|
|
| Dividend declared per common share (in dollars per share) |
0.825
|
0.781
|
0.737
|
| Class B Common Stock |
|
|
|
| BASIC EARNINGS PER SHARE: |
|
|
|
| Basic earnings per share (in dollars per share) |
2.02
|
1.55
|
1.32
|
| DILUTED EARNINGS PER SHARE: |
|
|
|
| Diluted earnings per share (in dollars per share) |
2.01
|
1.54
|
1.32
|
| DIVIDENDS DECLARED PER COMMON SHARE: |
|
|
|
| Dividend declared per common share (in dollars per share) |
$ 0.750
|
$ 0.710
|
$ 0.670
|