XML 21 R4.htm IDEA: XBRL DOCUMENT v3.19.2
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income        
Loans and leases $ 23,904 $ 21,243 $ 48,111 $ 40,904
Securities 1,175 938 2,270 1,794
Short-term investments 230 287 608 491
Total interest income 25,309 22,468 50,989 43,189
Interest expense        
Deposits 6,258 3,209 12,054 6,038
Federal Home Loan Bank advances and other borrowings 1,922 2,051 3,777 3,467
Junior subordinated notes 277 277 552 552
Total interest expense 8,457 5,537 16,383 10,057
Net interest income 16,852 16,931 34,606 33,132
Provision for loan and lease losses (784) 2,579 (736) 5,054
Net interest income after provision for loan and lease losses 17,636 14,352 35,342 28,078
Non-interest income        
Trust and investment service fees 2,138 1,987 4,065 3,884
Gain on sale of Small Business Administration loans 297 274 539 543
Service charges on deposits 743 720 1,520 1,504
Loan fees 464 389 877 917
Increase in cash surrender value of bank-owned life insurance 297 297 589 589
Commercial loan swap fees 1,051 70 1,523 703
Other non-interest income 815 245 1,330 508
Total non-interest income 5,805 3,982 10,443 8,648
Non-interest expense        
Compensation 10,503 9,116 20,667 18,187
Occupancy 559 544 1,149 1,073
Professional fees 784 928 1,994 1,963
Data processing 689 626 1,269 1,236
Marketing 581 591 1,063 925
Equipment 272 343 661 686
Computer software 827 679 1,626 1,420
FDIC insurance 302 369 595 668
Collateral liquidation costs 89 222 (1) 223
Net gain on foreclosed properties 21 0 21 0
Impairment of tax credit investments 2,088 329 4,102 442
SBA recourse provision 113 99 594 (196)
Other non-interest expense 678 621 1,508 1,747
Total non-interest expense 17,464 14,467 35,206 28,374
Income before income tax (benefit) expense 5,977 3,867 10,579 8,352
Income tax (benefit) expense (595) 578 (1,893) 1,414
Net income $ 6,572 $ 3,289 $ 12,472 $ 6,938
Earnings per common share        
Basic $ 0.75 $ 0.38 $ 1.43 $ 0.79
Diluted 0.75 0.38 1.43 0.79
Dividends declared per share $ 0.15 $ 0.14 $ 0.30 $ 0.28