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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest income        
Loans and leases $ 21,243 $ 18,284 $ 40,904 $ 35,806
Securities 938 776 1,794 1,555
Short-term investments 287 165 491 311
Total interest income 22,468 19,225 43,189 37,672
Interest expense        
Deposits 3,209 2,658 6,038 5,331
Federal Home Loan Bank advances and other borrowings 2,051 811 3,467 1,422
Junior subordinated notes 277 277 552 552
Total interest expense 5,537 3,746 10,057 7,305
Net interest income 16,931 15,479 33,132 30,367
Provision for loan and lease losses 2,579 3,656 5,054 4,228
Net interest income after provision for loan and lease losses 14,352 11,823 28,078 26,139
Non-interest income        
Trust and investment service fees 1,987 1,648 3,884 3,277
Gain on sale of Small Business Administration loans 274 535 543 895
Service charges on deposits 720 766 1,504 1,531
Loan fees 389 675 917 1,133
Increase in cash surrender value of bank-owned life insurance 297 316 589 627
Commercial loan swap fees 70 250 703 449
Other non-interest income 245 548 508 889
Total non-interest income 3,982 4,738 8,648 8,801
Non-interest expense        
Compensation 9,116 8,382 18,187 17,065
Occupancy 544 519 1,073 994
Professional fees 928 1,041 1,963 2,051
Data processing 626 635 1,236 1,219
Marketing 591 582 925 952
Equipment 343 300 686 583
Computer software 679 639 1,420 1,322
FDIC insurance 369 381 668 761
Collateral liquidation costs 222 77 223 185
Impairment of tax credit investments 329 112 442 225
SBA recourse provision (benefit) 99 774 (196) 780
Other non-interest expense 621 779 1,747 1,644
Total non-interest expense 14,467 14,221 28,374 27,781
Income before income tax expense 3,867 2,340 8,352 7,159
Income tax expense 578 454 1,414 1,876
Net income $ 3,289 $ 1,886 $ 6,938 $ 5,283
Earnings per common share        
Basic $ 0.38 $ 0.22 $ 0.79 $ 0.61
Diluted 0.38 0.22 0.79 0.61
Dividends declared per share $ 0.14 $ 0.13 $ 0.28 $ 0.26