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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest Income        
Loans receivable $ 25,313 $ 20,297 $ 65,854 $ 55,140
Investment securities        
Taxable 2,498 2,156 7,703 6,377
Tax exempt 1,151 1,125 3,583 3,281
Total interest income 28,962 23,578 77,140 64,798
Interest Expense        
Deposits 1,875 1,566 4,923 4,035
Borrowed funds 2,128 1,729 5,608 4,747
Subordinated debentures 549 507 1,556 1,504
Total interest expense 4,552 3,802 12,087 10,286
Net Interest Income 24,410 19,776 65,053 54,512
Provision for loan losses 455 300 1,219 2,820
Net Interest Income after Provision for Loan Losses 23,955 19,476 63,834 51,692
Non-interest Income        
Service charges on deposit accounts 1,483 1,359 4,056 3,443
Wire transfer fees 292 160 588 493
Interchange fees 2,016 1,625 5,137 4,093
Fiduciary activities 1,653 1,520 4,753 4,033
Gain on sale of investment securities (includes $0 for the three months ended and $875 for the nine months ended September 30, 2016 and $0 for the three months ended and $124 for the nine months ended September 30, 2015, related to accumulated other comprehensive earnings reclassifications)     875 124
Gain on sale of mortgage loans 3,528 2,794 9,171 7,815
Mortgage servicing income net of impairment 409 246 1,356 725
Increase in cash value of bank owned life insurance 449 374 1,145 889
Death benefit on bank owned life insurance       145
Other income 226 322 708 892
Total non-interest income 10,056 8,400 27,789 22,652
Non-interest Expense        
Salaries and employee benefits 12,210 10,652 32,592 27,541
Net occupancy expenses 2,174 1,723 6,011 4,649
Data processing 1,616 1,281 3,855 3,170
Professional fees 612 409 2,190 1,596
Outside services and consultants 2,686 3,209 5,983 4,753
Loan expense 1,482 1,351 4,086 3,975
FDIC insurance expense 465 423 1,279 1,099
Other losses 107 246 510 351
Other expense 3,468 2,941 9,616 7,819
Total non-interest expense 24,820 22,235 66,122 54,953
Income Before Income Tax 9,191 5,641 25,501 19,391
Income tax expense (includes $0 for the three months ended and $306 for the nine months ended September 30, 2016 and $0 for the three months ended and $43 for the nine months ended September 30, 2015, related to income tax expense from reclassification items) 2,589 1,353 7,192 5,017
Net Income 6,602 4,288 18,309 14,374
Preferred stock dividend   (31) (42) (94)
Net Income Available to Common Shareholders $ 6,602 $ 4,257 $ 18,267 $ 14,280
Basic Earnings Per Share $ 0.31 $ 0.24 $ 0.95 $ 0.95
Diluted Earnings Per Share $ 0.30 $ 0.24 $ 0.94 $ 0.92