v3.19.1
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Interest income    
Loans, including fees $ 67,229 $ 54,996
Investment securities available for sale 1,041 1,068
Federal funds sold and other 857 602
Total interest income 69,127 56,666
Interest expense    
Deposits, including $1,727 and $1,172 paid to related parties for the years ended December 31, 2018 and 2017, respectively 9,792 6,434
Borrowed funds 1,447 1,321
Total interest expense 11,239 7,755
Net interest income 57,888 48,911
Provision for loan losses 2,140 2,655
Net interest income after provision for loan losses 55,748 46,256
Noninterest income    
Loss on sale of investment securities available for sale (2) 0
Loss on sale of foreclosed real estate (21) (52)
Loss on disposal of premises and equipment (276) (77)
Other fees and charges 414 427
Total noninterest income 16,124 15,149
Noninterest expenses    
Salaries and employee benefits 25,164 23,819
Occupancy and equipment 4,319 3,829
Professional fees 2,124 1,874
Data processing 14,184 9,621
Advertising 1,460 1,922
Loan processing 1,077 1,409
Other real estate expenses, net 28 32
Other operating 5,767 4,800
Total noninterest expenses 54,123 47,306
Income before income taxes 17,749 14,099
Income tax expense 4,982 6,990
Net income $ 12,767 $ 7,109
Basic earnings per share (in dollars per share) $ 1.05 $ 0.63
Diluted earnings per share (in dollars per share) $ 1.02 $ 0.62
Weighted average common shares outstanding:    
Basic (in shares) 12,116,459 11,261,132
Diluted (in shares) 12,462,138 11,428,000
Service charges on deposits    
Noninterest income    
Noninterest income $ 484 $ 460
Credit card fees    
Noninterest income    
Noninterest income 6,048 4,014
Mortgage banking revenue    
Noninterest income    
Noninterest income $ 9,477 $ 10,377