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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest income        
Loans and leases $ 18,284 $ 18,701 $ 35,806 $ 37,145
Securities income 776 681 1,555 1,404
Short-term investments 165 173 311 349
Total interest income 19,225 19,555 37,672 38,898
Interest expense        
Deposits 2,658 3,038 5,331 6,091
Federal Home Loan Bank advances and other borrowings 811 499 1,422 973
Junior subordinated notes 277 277 552 555
Total interest expense 3,746 3,814 7,305 7,619
Net interest income 15,479 15,741 30,367 31,279
Provision for loan and lease losses 3,656 2,762 4,228 3,287
Net interest income after provision for loan and lease losses 11,823 12,979 26,139 27,992
Non-interest income        
Trust and investment services fee income 1,648 1,344 3,277 2,618
Gain on sale of Small Business Administration loans 535 2,131 895 3,506
Gain on sale of residential mortgage loans 15 198 26 342
Service charges on deposits 766 733 1,531 1,475
Loan fees 675 676 1,133 1,285
Increase in cash surrender value of bank-owned life insurance 316 243 627 486
Other non-interest income 783 498 1,312 704
Total non-interest income 4,738 5,823 8,801 10,416
Non-interest expense        
Compensation 8,382 8,447 17,065 16,818
Occupancy 519 500 994 1,008
Professional fees 1,041 961 2,051 1,822
Data processing 635 697 1,219 1,348
Marketing 582 448 952 1,182
Equipment 300 341 583 621
Computer software 639 574 1,322 1,068
FDIC insurance 381 254 761 545
Collateral liquidation costs 77 68 185 114
Net loss on foreclosed properties 0 93 0 93
Impairment of tax credit investments 112 94 225 206
SBA Business Administration recourse provision 774 74 780 160
Other non-interest expense 779 907 1,644 1,171
Total non-interest expense 14,221 13,458 27,781 26,156
Income before income tax expense 2,340 5,344 7,159 12,252
Income tax expense 454 1,621 1,876 3,976
Net income $ 1,886 $ 3,723 $ 5,283 $ 8,276
Earnings per common share        
Basic $ 0.22 $ 0.43 $ 0.61 $ 0.95
Diluted 0.22 0.43 0.61 0.95
Dividends declared per share $ 0.13 $ 0.12 $ 0.26 $ 0.24