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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest income:        
Loans and leases $ 17,323 $ 12,968 $ 51,328 $ 38,094
Securities income 722 821 2,246 2,543
Short-term investments 90 82 297 201
Total interest income 18,135 13,871 53,871 40,838
Interest expense:        
Deposits 2,785 2,405 7,947 6,911
Notes payable and other borrowings 460 251 1,364 561
Junior subordinated notes 280 280 832 831
Total interest expense 3,525 2,936 10,143 8,303
Net interest income 14,610 10,935 43,728 32,535
Provision for loan and lease losses 287 (89) 1,491 0
Net interest income after provision for loan and lease losses 14,323 11,024 42,237 32,535
Non-interest income:        
Trust and investment services fee income 1,251 1,137 3,737 3,315
Gain on sale of SBA loans 927 0 2,274 0
Gain on sale of residential mortgage loans 244 0 614 0
Service charges on deposits 705 620 2,094 1,787
Loan fees 486 386 1,487 1,156
Increase in cash surrender value of bank-owned life insurance 243 215 715 630
Other 246 101 1,155 250
Total non-interest income 4,102 2,459 12,076 7,138
Non-interest expense:        
Compensation 7,320 5,193 21,598 14,991
Occupancy 486 324 1,472 963
Professional fees 1,268 674 3,772 2,201
Data processing 587 389 1,772 1,227
Marketing 693 409 2,036 1,120
Equipment 308 145 914 400
FDIC insurance 260 179 693 542
Collateral liquidation costs 22 32 402 276
Net gain on foreclosed properties (163) (9) (178) (5)
Other 1,203 711 3,209 1,933
Total non-interest expense 11,984 8,047 35,690 23,648
Income before income tax expense 6,441 5,436 18,623 16,025
Income tax expense 2,060 1,883 6,192 5,630
Net income $ 4,381 $ 3,553 $ 12,431 $ 10,395
Earnings per common share:        
Basic $ 0.50 $ 0.45 $ 1.43 $ 1.32
Diluted 0.50 0.45 1.43 1.31
Dividends declared per share $ 0.11 $ 0.105 $ 0.33 $ 0.315