XML 14 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest Income        
Loans receivable $ 20,794 $ 17,981 $ 40,541 $ 34,843
Investment securities        
Taxable 2,661 2,067 5,205 4,221
Tax exempt 1,195 1,079 2,432 2,156
Total interest income 24,650 21,127 48,178 41,220
Interest Expense        
Deposits 1,557 1,237 3,048 2,469
Borrowed funds 1,721 1,539 3,480 3,018
Subordinated debentures 503 501 1,007 997
Total interest expense 3,781 3,277 7,535 6,484
Net Interest Income 20,869 17,850 40,643 34,736
Provision for loan losses 232 1,906 764 2,520
Net Interest Income after Provision for Loan Losses 20,637 15,944 39,879 32,216
Non-interest Income        
Service charges on deposit accounts 1,335 1,085 2,573 2,084
Wire transfer fees 175 182 296 333
Interchange fees 1,663 1,366 3,121 2,468
Fiduciary activities 1,465 1,216 3,100 2,513
Gain on sale of investment securities (includes $767 for the three months ended and $875 for the six months ended June 30, 2016 and $0 for the three months ended and $124 for the six months ended June 30, 2015, related to accumulated other comprehensive earnings reclassifications) 767   875 124
Gain on sale of mortgage loans 3,529 2,642 5,643 5,021
Mortgage servicing income net of impairment 500 300 947 479
Increase in cash value of bank owned life insurance 351 257 696 515
Death benefit on bank owned life insurance       145
Other income 84 138 482 570
Total non-interest income 9,869 7,186 17,733 14,252
Non-interest Expense        
Salaries and employee benefits 10,317 8,385 20,382 16,889
Net occupancy expenses 1,901 1,375 3,837 2,926
Data processing 1,134 966 2,239 1,889
Professional fees 747 660 1,578 1,187
Outside services and consultants 2,198 918 3,297 1,544
Loan expense 1,409 1,367 2,604 2,624
FDIC insurance expense 409 339 814 676
Other losses 136 150 403 105
Other expense 3,304 2,490 6,148 4,878
Total non-interest expense 21,555 16,650 41,302 32,718
Income Before Income Tax 8,951 6,480 16,310 13,750
Income tax expense (includes $268 for the three months ended and $306 for the six months ended June 30, 2016 and $0 for the three months ended and $43 for the six months ended June 30, 2015, related to income tax expense from reclassification items) 2,625 1,752 4,603 3,664
Net Income 6,326 4,728 11,707 10,086
Preferred stock dividend   (31) (42) (63)
Net Income Available to Common Shareholders $ 6,326 $ 4,697 $ 11,665 $ 10,023
Basic Earnings Per Share $ 0.52 $ 0.51 $ 0.97 $ 1.09
Diluted Earnings Per Share $ 0.52 $ 0.49 $ 0.96 $ 1.04