|
Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2012
|
Jun. 30, 2011
|
Jun. 30, 2012
|
Jun. 30, 2011
|
|
| Revenue | ||||
| Interest and fee income | $ 28,175 | $ 21,494 | $ 55,244 | $ 42,539 |
| Insurance income, net | 2,510 | 1,933 | 4,995 | 4,127 |
| Other income | 1,331 | 947 | 3,317 | 2,404 |
| Total revenue | 32,016 | 24,374 | 63,556 | 49,070 |
| Expenses | ||||
| Provision for loan losses | 5,908 | 3,489 | 11,535 | 7,325 |
| General and administrative expenses | ||||
| Personnel | 8,251 | 6,276 | 16,226 | 12,816 |
| Occupancy | 2,086 | 1,590 | 3,980 | 3,061 |
| Advertising | 632 | 646 | 1,225 | 1,293 |
| Other | 2,290 | 1,658 | 4,620 | 3,212 |
| Consulting and advisory fees | 308 | 1,451 | 618 | |
| Interest expense | ||||
| Senior revolving credit facility and other notes payable | 2,341 | 1,951 | 4,851 | 3,714 |
| Mezzanine debt-related parties | 1,007 | 1,030 | 2,003 | |
| Total interest expense | 2,341 | 2,958 | 5,881 | 5,717 |
| Total expenses | 21,508 | 16,925 | 44,918 | 34,042 |
| Income before income taxes | 10,508 | 7,449 | 18,638 | 15,028 |
| Income taxes | 3,888 | 2,729 | 6,896 | 5,373 |
| Net income | $ 6,620 | $ 4,720 | $ 11,742 | $ 9,655 |
| Net income per common share: | ||||
| Basic | $ 0.53 | $ 0.51 | $ 1.08 | $ 1.03 |
| Diluted | $ 0.52 | $ 0.50 | $ 1.05 | $ 1.01 |
| Weighted average common shares outstanding: | ||||
| Basic | 12,452,112 | 9,336,727 | 10,894,419 | 9,336,727 |
| Diluted | 12,735,088 | 9,527,703 | 11,175,792 | 9,587,903 |