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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest income:        
Loans and leases $ 18,701 $ 16,680 $ 37,145 $ 34,005
Securities income 681 748 1,404 1,524
Short-term investments 173 92 349 207
Total interest income 19,555 17,520 38,898 35,736
Interest expense:        
Deposits 3,038 2,593 6,091 5,162
Notes payable and other borrowings 499 461 973 904
Junior subordinated notes 277 278 555 552
Total interest expense 3,814 3,332 7,619 6,618
Net interest income 15,741 14,188 31,279 29,118
Provision for loan and lease losses 2,762 520 3,287 1,204
Net interest income after provision for loan and lease losses 12,979 13,668 27,992 27,914
Non-interest income:        
Trust and investment services fee income 1,344 1,279 2,618 2,486
Gain on sale of SBA loans 2,131 842 3,506 1,347
Gain on sale of residential mortgage loans 198 222 342 370
Service charges on deposits 733 693 1,475 1,389
Loan fees 676 499 1,285 1,001
Increase in cash surrender value of bank-owned life insurance 243 238 486 472
Other 498 353 704 909
Total non-interest income 5,823 4,126 10,416 7,974
Non-interest expense:        
Compensation 8,447 6,924 16,818 14,278
Occupancy 500 486 1,008 986
Professional fees 961 1,515 1,822 2,504
Data processing 697 655 1,348 1,185
Marketing 448 701 1,182 1,343
Equipment 341 298 621 606
FDIC insurance 254 220 545 433
Collateral liquidation costs 68 78 114 380
Net gain (loss) on foreclosed properties 93 1 93 (15)
Other 1,649 1,096 2,605 2,006
Total non-interest expense 13,458 11,974 26,156 23,706
Income before income tax expense 5,344 5,820 12,252 12,182
Income tax expense 1,628 1,962 3,990 4,132
Net income $ 3,716 $ 3,858 $ 8,262 $ 8,050
Earnings per common share:        
Basic $ 0.43 $ 0.45 $ 0.95 $ 0.93
Diluted 0.43 0.45 0.95 0.93
Dividends declared per share $ 0.12 $ 0.11 $ 0.24 $ 0.22