XML 15 R4.htm IDEA: XBRL DOCUMENT v3.19.2
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest and dividend income        
Loans, including fees $ 21,657 $ 14,144 $ 42,619 $ 27,783
Taxable securities 1,694 1,040 3,442 2,026
Tax-exempt securities 1,408 886 2,760 1,764
Federal funds sold and other 167 90 689 511
Total interest and dividend income 24,926 16,160 49,510 32,084
Interest expense        
Deposits 1,976 570 3,867 1,277
Federal Home Loan Bank advances 831 482 1,429 634
Subordinated debentures 372 338 744 626
Securities sold under agreements to repurchase and other 5 4 10 9
Total interest expense 3,184 1,394 6,050 2,546
Net interest income 21,742 14,766 43,460 29,538
Net interest income after provision for loan losses 21,742 14,766 43,460 29,538
Noninterest income        
Service charges 1,552 1,359 3,008 2,493
Net gain on sale of securities 10 6 14 6
Net gain (loss) on equity securities (33) 35 (31) 75
Net gain on sale of loans 555 474 886 807
ATM/Interchange fees 951 588 1,857 1,142
Wealth management fees 911 836 1,758 1,688
Bank owned life insurance 252 144 499 286
Tax refund processing fees 550 550 2,750 2,750
Other 356 398 647 759
Total noninterest income 5,104 4,390 11,388 10,006
Noninterest expense        
Compensation expense 9,548 7,385 19,353 14,759
Net occupancy expense 964 862 2,004 1,623
Equipment expense 480 324 943 698
Contracted data processing 447 2,739 866 3,087
FDIC assessment 106 116 298 267
State franchise tax 499 363 899 681
Professional services 700 1,483 1,395 2,035
Amortization of intangible assets 235 26 475 59
ATM expense 546 208 924 426
Marketing 367 320 707 638
Other operating expenses 2,747 2,102 5,224 3,860
Total noninterest expense 16,639 15,928 33,088 28,133
Income before taxes 10,207 3,228 21,760 11,411
Income tax expense 1,546 214 3,430 1,408
Net Income 8,661 3,014 18,330 10,003
Preferred stock dividends 164 299 328 602
Net income available to common shareholders $ 8,497 $ 2,715 $ 18,002 $ 9,401
Earnings per common share, basic $ 0.54 $ 0.26 $ 1.15 $ 0.91
Earnings per common share, diluted $ 0.51 $ 0.24 $ 1.08 $ 0.79