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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2019
USD ($)
$ / shares
shares
Mar. 31, 2018
USD ($)
$ / shares
shares
Interest income    
Interest and fees on loans $ 20,695 $ 18,887
Interest on investment securities 4,097 3,157
Interest on federal funds sold and due from banks 139 403
Total interest income 24,931 22,447
Interest expense    
Interest on interest-bearing transaction accounts 77 52
Interest on savings accounts 18 18
Interest on money market accounts 764 216
Interest on time accounts 119 156
Interest on borrowings and other obligations 47 0
Interest on subordinated debentures 60 114
Total interest expense 1,085 556
Net interest income 23,846 21,891
Provision for loan losses 0 0
Net interest income after provision for loan losses 23,846 21,891
Non-interest income    
(Cost of) earnings on bank-owned life insurance, net (60) 228
Dividends on FHLB stock 196 196
(Losses) gains on investment securities, net (6) 0
Other income 257 350
Total non-interest income 1,771 2,242
Non-interest expense    
Salaries and related benefits 9,146 9,017
Occupancy and equipment 1,531 1,507
Depreciation and amortization 556 547
Federal Deposit Insurance Corporation insurance 179 191
Data processing 1,015 1,381
Professional services 586 1,299
Directors' expense 179 174
Information technology 259 269
Amortization of core deposit intangible 222 230
Provision for losses on off-balance sheet commitments 129 0
Other expense 1,726 1,466
Total non-interest expense 15,528 16,081
Income before provision for income taxes 10,089 8,052
Provision for income taxes 2,610 1,663
Net income $ 7,479 $ 6,389
Net income per common share:    
Basic (usd per share) | $ / shares [1] $ 0.54 $ 0.46
Diluted (usd per share) | $ / shares [1] $ 0.54 $ 0.46
Weighted average shares:    
Basic (shares) | shares [1] 13,737 13,827
Diluted (shares) | shares [1] 13,924 14,011
Comprehensive income:    
Net income $ 7,479 $ 6,389
Other comprehensive income (loss)    
Change in net unrealized gain or loss on available-for-sale securities 3,939 (6,170)
Reclassification adjustment for losses on available-for-sale securities in net income 6 0
Amortization of net unrealized losses on securities transferred from available-for-sale to held-to-maturity 101 136
Subtotal 4,046 (6,034)
Deferred tax expense (benefit) 1,198 (1,784)
Other comprehensive income (loss), net of tax 2,848 (4,250)
Comprehensive income 10,327 2,139
Deposit Account    
Non-interest income    
Service charges on deposit accounts, wealth management and trust services, debit card interchange fees net, and merchant interchange fees net 479 477
Fiduciary and Trust    
Non-interest income    
Service charges on deposit accounts, wealth management and trust services, debit card interchange fees net, and merchant interchange fees net 438 515
Debit Card    
Non-interest income    
Service charges on deposit accounts, wealth management and trust services, debit card interchange fees net, and merchant interchange fees net 380 396
Merchant Interchange Fees, Net    
Non-interest income    
Service charges on deposit accounts, wealth management and trust services, debit card interchange fees net, and merchant interchange fees net $ 87 $ 80
[1] Share and per share data have been adjusted to reflect the two-for-one stock split effective November 27, 2018.