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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest income        
Loans and leases $ 17,686 $ 18,016 $ 53,492 $ 55,161
Securities 771 698 2,326 2,102
Short-term investments 177 184 488 533
Total interest income 18,634 18,898 56,306 57,796
Interest expense        
Deposits 2,708 2,870 8,039 8,961
Federal Home Loan Bank advances and other borrowings 763 453 2,185 1,425
Junior subordinated notes 280 280 832 835
Total interest expense 3,751 3,603 11,056 11,221
Net interest income 14,883 15,295 45,250 46,575
Provision for loan and lease losses 1,471 3,537 5,699 6,824
Net interest income after provision for loan and lease losses 13,412 11,758 39,551 39,751
Non-interest income        
Trust and investment services fee income 1,653 1,364 4,930 3,981
Gain on sale of Small Business Administration loans 606 347 1,501 3,854
Gain on sale of residential mortgage loans 0 198 26 540
Service charges on deposits 756 772 2,287 2,247
Loan fees 391 506 1,525 1,791
Increase in cash surrender value of bank-owned life insurance 314 244 940 730
Other non-interest income 619 209 1,931 914
Total non-interest income 4,339 3,640 13,140 14,057
Non-interest expense        
Compensation 7,645 7,637 24,710 24,454
Occupancy 527 530 1,521 1,538
Professional fees 995 1,065 3,046 2,888
Data processing 592 623 1,810 1,971
Marketing 594 528 1,546 1,710
Equipment 285 292 868 913
Computer software 715 539 2,037 1,607
FDIC insurance 320 444 1,081 989
Collateral liquidation costs 371 89 556 204
Net loss on foreclosed properties 0 0 0 93
Impairment of tax credit investments 112 3,314 338 3,520
SBA Business Administration recourse provision 1,315 375 2,095 449
Other non-interest expense 760 317 2,404 1,574
Total non-interest expense 14,231 15,753 42,012 41,910
Income (loss) before income tax expense 3,520 (355) 10,679 11,898
Income tax expense (benefit) 936 (3,020) 2,812 957
Net income $ 2,584 $ 2,665 $ 7,867 $ 10,941
Earnings per common share        
Basic $ 0.30 $ 0.31 $ 0.90 $ 1.26
Diluted 0.30 0.31 0.90 1.26
Dividends declared per share $ 0.13 $ 0.12 $ 0.39 $ 0.36