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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income        
Loans $ 19,999 $ 12,281 $ 54,611 $ 35,068
Investment securities - taxable 3,787 2,922 10,958 7,754
Investment securities - tax-exempt 309 955 1,783 2,834
Short-term investments 561 68 1,237 169
Total interest income 24,656 16,226 68,589 45,825
Interest expense        
Deposits 5,774 2,780 14,338 6,765
Short-term borrowings 39 332 316 1,097
Long-term debt 433 410 1,408 1,222
Subordinated notes 490 0 1,486 0
Total interest expense 6,736 3,522 17,548 9,084
Net interest income 17,920 12,704 51,041 36,741
Provision for loan losses 300 200 900 600
Net interest income after provision for loan losses 17,620 12,504 50,141 36,141
Noninterest income        
Service charges on deposit accounts 1,761 1,524 4,930 4,405
Other service charges, commissions and fees 372 492 959 1,430
Loan swap referral fees 629 0 629 0
Trust and investment management income 1,892 1,668 5,399 5,037
Brokerage income 654 455 1,804 1,514
Mortgage banking activities 623 735 1,743 2,049
Income from life insurance 479 533 1,505 1,101
Other income 44 56 188 272
Investment securities gains 2,328 29 4,731 891
Total noninterest income 8,782 5,492 21,888 16,699
Noninterest expenses        
Salaries and employee benefits 10,489 7,610 28,088 23,487
Occupancy 1,133 775 3,200 2,252
Furniture and equipment 1,252 990 3,415 2,977
Data processing 830 661 2,658 1,875
Telephone and communication 198 181 612 542
Automated teller and interchange fees 270 187 744 548
Advertising and bank promotions 279 279 1,348 898
FDIC insurance (9) 169 397 507
Legal fees 189 215 362 364
Other professional services 625 361 1,716 1,140
Directors' compensation 228 207 725 663
Real estate owned 22 18 36 96
Taxes other than income 306 259 926 761
Intangible asset amortization 486 24 1,096 72
Merger related 471 319 7,976 473
Insurance claim receivable write off 0 0 615 0
Other operating expenses 1,392 1,081 3,743 3,022
Total noninterest expenses 18,161 13,336 57,657 39,677
Income before income tax expense 8,241 4,660 14,372 13,163
Income tax expense 1,340 644 1,682 1,510
Net income $ 6,901 $ 4,016 $ 12,690 $ 11,653
Per share information:        
Basic earnings per share (in usd per share) $ 0.63 $ 0.50 $ 1.25 $ 1.44
Diluted earnings per share (in usd per share) $ 0.62 $ 0.49 $ 1.23 $ 1.41