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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest and Dividend Income        
Loans, including fees $ 18,208 $ 13,496 $ 52,202 $ 39,593
Loans held-for-sale 34 48 95 115
Securities:        
Taxable 2,424 3,954 7,994 12,547
Tax exempt 1,628 180 4,188 579
Dividends from Federal Reserve Bank and Federal Home Loan Bank stock 94 83 271 251
Interest bearing deposits with financial institutions 37 64 91 98
Total interest and dividend income 22,425 17,825 64,841 53,183
Interest Expense        
Savings, NOW, and money market deposits 239 193 695 577
Time deposits 1,077 931 3,081 2,622
Other short-term borrowings 224 23 482 69
Junior subordinated debentures 930 1,084 3,073 3,251
Senior notes 672   2,017  
Subordinated debt   245   727
Notes payable and other borrowings   2   6
Total interest expense 3,142 2,478 9,348 7,252
Net interest and dividend income 19,283 15,347 55,493 45,931
Loan loss reserve release 300   1,050  
Net interest and dividend income after release for loan losses 18,983 15,347 54,443 45,931
Noninterest Income        
Trust income 1,468 1,403 4,564 4,274
Service charges on deposits 1,722 1,756 4,955 4,961
Secondary mortgage fees 195 322 594 795
Mortgage servicing rights mark to market loss (194) (147) (756) (1,921)
Mortgage servicing gain / (loss), net of changes in fair value 451 437 1,330 1,280
Net gain on sales of mortgage loans 1,095 2,177 3,715 5,031
Securities loss, net 102 (1,959) (165) (2,020)
Increase in cash surrender value of bank-owned life insurance 362 383 1,071 987
Debit card interchange income 1,075 1,013 3,131 3,009
(Loss) gain on disposal and transfer of fixed assets     10 (1)
Other income 1,567 1,209 3,739 3,751
Total noninterest income 7,843 6,594 22,188 20,146
Noninterest Expense        
Salaries and employee benefits 10,049 9,014 31,167 26,854
Occupancy expense, net 1,482 1,500 4,510 4,427
Furniture and equipment expense 1,081 1,105 3,283 3,093
FDIC insurance 199 228 512 793
General bank insurance 246 269 780 839
Amortization of core deposit intangible 24   74  
Advertising expense 255 430 1,093 1,212
Debit card interchange expense 285 363 1,033 1,186
Legal fees 162 242 450 594
Other real estate expense, net 680 426 1,928 2,043
Other expense 2,455 3,005 8,128 8,505
Total noninterest expense 16,918 16,582 52,958 49,546
Income before income taxes 9,908 5,359 23,673 16,531
Provision for income taxes 1,831 1,860 6,023 5,865
Net income $ 8,077 $ 3,499 $ 17,650 $ 10,666
Basic earnings per share (in dollars per share) $ 0.27 $ 0.12 $ 0.60 $ 0.36
Diluted earnings per share (in dollars per share) $ 0.27 $ 0.12 $ 0.59 $ 0.36