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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest and dividend income        
Loans $ 27,660 $ 25,934 $ 54,524 $ 51,060
Securities and other 6,125 5,784 12,488 11,435
Total interest and dividend income 33,785 31,718 67,012 62,495
Interest expense        
Deposits 6,886 4,405 13,193 8,390
Borrowings 5,403 4,321 10,558 7,955
Total interest expense 12,289 8,726 23,751 16,345
Net interest income 21,496 22,992 43,261 46,150
Provision for loan losses 562 770 886 1,565
Net interest income after provision for loan losses 20,934 22,222 42,375 44,585
Non-interest income        
Trust and investment management fee income 3,066 3,122 5,823 6,084
Customer service fees 2,618 2,347 4,783 4,571
Bank-owned life insurance income 519 377 1,061 823
Customer derivative income 696 545 725 545
Other income 554 730 1,228 1,336
Total non-interest income 7,453 7,121 13,620 13,359
Non-interest expense        
Salaries and employee benefits 11,685 10,375 22,204 21,364
Occupancy and equipment 3,300 2,925 6,686 5,998
Loss on premises and equipment, net 21 0 21 0
Outside services 443 581 854 1,141
Professional services 570 360 1,114 793
Communication 283 304 518 484
Marketing 511 588 806 914
Amortization of intangible assets 207 207 414 414
Acquisition, conversion and other expenses 280 214 280 549
Other expenses 3,606 3,131 6,633 5,880
Total non-interest expense 20,906 18,685 39,530 37,537
Income before income taxes 7,481 10,658 16,465 20,407
Income tax expense 1,364 2,123 3,067 4,060
Net income $ 6,117 $ 8,535 $ 13,398 $ 16,347
Earnings per share:        
Basic (in dollars per share) $ 0.39 $ 0.55 $ 0.86 $ 1.06
Diluted (in dollars per share) $ 0.39 $ 0.55 $ 0.86 $ 1.05
Weighted average common shares outstanding:        
Basic (in shares) 15,538,282 15,482,188 15,530,893 15,465,357
Diluted (in shares) 15,585,581 15,571,451 15,582,233 15,559,971