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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest income        
Loans $ 14,280 $ 11,999 $ 27,806 $ 23,794
Investment securities 390 458 766 947
Federal funds sold 261 46 318 91
Total interest income 14,931 12,503 28,890 24,832
Interest expense        
Deposits 1,739 946 2,989 1,934
Borrowings 840 1,044 1,942 2,078
Total interest expense 2,579 1,990 4,931 4,012
Net interest income 12,352 10,513 23,959 20,820
Provision for loan losses 500 575 1,000 1,200
Net interest income after provision for loan losses 11,852 9,938 22,959 19,620
Noninterest income        
Mortgage banking income 1,603 2,235 2,660 3,682
Service fees on deposit accounts 284 244 561 463
Income from bank owned life insurance 183 180 366 366
Gain on sale of investment securities 2 19 2 325
Loss on disposal of fixed assets (50) (50)
Other income 540 468 1,075 868
Total noninterest income 2,562 3,146 4,614 5,704
Noninterest expenses        
Compensation and benefits 5,524 4,855 10,798 9,405
Occupancy 1,033 892 1,999 1,762
Real estate owned expenses (3) 359 10 644
Outside service and data processing costs 823 628 1,568 1,226
Insurance 297 217 587 450
Professional fees 382 284 695 538
Marketing 196 199 407 430
Other 510 419 1,059 914
Total noninterest expenses 8,762 7,853 17,123 15,369
Income before income tax expense 5,652 5,231 10,450 9,955
Income tax expense 2,048 1,925 3,734 3,643
Net income available to common shareholders $ 3,604 $ 3,306 $ 6,716 $ 6,312
Earnings per common share        
Basic $ 0.52 $ 0.52 $ 1.00 $ 1.00
Diluted $ 0.49 $ 0.49 $ 0.95 $ 0.94
Weighted average common shares outstanding        
Basic 6,986,948 6,301,853 6,713,608 6,287,350
Diluted 7,366,208 6,702,820 7,099,381 6,683,126