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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest income:        
Loans and leases $ 18,016 $ 17,323 $ 55,161 $ 51,328
Securities income 698 722 2,102 2,246
Short-term investments 184 90 533 297
Total interest income 18,898 18,135 57,796 53,871
Interest expense:        
Deposits 2,870 2,785 8,961 7,947
Notes payable and other borrowings 453 460 1,425 1,364
Junior subordinated notes 280 280 835 832
Total interest expense 3,603 3,525 11,221 10,143
Net interest income 15,295 14,610 46,575 43,728
Provision for loan and lease losses 3,537 287 6,824 1,491
Net interest income after provision for loan and lease losses 11,758 14,323 39,751 42,237
Non-interest income:        
Trust and investment services fee income 1,364 1,251 3,981 3,737
Gain on sale of Small Business Administration loans 347 927 3,854 2,274
Gain on sale of residential mortgage loans 198 244 540 614
Service charges on deposits 772 705 2,247 2,094
Loan fees 506 486 1,791 1,487
Increase in cash surrender value of bank-owned life insurance 244 243 730 715
Other non-interest income 209 246 914 1,155
Total non-interest income 3,640 4,102 14,057 12,076
Non-interest expense:        
Compensation 7,637 7,320 24,454 21,598
Occupancy 530 486 1,538 1,472
Professional fees 1,065 1,268 2,888 3,772
Data processing 623 587 1,971 1,772
Marketing 528 693 1,710 2,036
Equipment 292 308 913 914
FDIC insurance 444 260 989 693
Collateral liquidation costs 89 22 204 402
Net (gain) loss on foreclosed properties 0 (163) 93 (178)
Impairment of tax credit investments 3,314 0 3,520 0
Other non-interest expense 1,231 1,203 3,630 3,209
Total non-interest expense 15,753 11,984 41,910 35,690
(Loss) income before income tax expense (355) 6,441 11,898 18,623
Income tax (benefit) expense (2,895) 2,060 1,095 6,192
Net income $ 2,540 $ 4,381 $ 10,803 $ 12,431
Earnings per common share:        
Basic $ 0.29 $ 0.50 $ 1.24 $ 1.43
Diluted 0.29 0.50 1.24 1.43
Dividends declared per share $ 0.12 $ 0.11 $ 0.36 $ 0.33