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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest income        
Loans $ 15,282 $ 12,486 $ 43,089 $ 36,280
Investment securities 443 395 1,208 1,342
Federal funds sold 230 31 548 122
Total interest income 15,955 12,912 44,845 37,744
Interest expense        
Deposits 2,084 957 5,073 2,891
Borrowings 562 1,075 2,504 3,153
Total interest expense 2,646 2,032 7,577 6,044
Net interest income 13,309 10,880 37,268 31,700
Provision for loan losses 500 825 1,500 2,025
Net interest income after provision for loan losses 12,809 10,055 35,768 29,675
Noninterest income        
Mortgage banking income 1,403 2,003 4,063 5,685
Service fees on deposit accounts 324 269 886 732
Income from bank owned life insurance 224 187 590 553
Gain on sale of investment securities 106 2 431
Loss on disposal of fixed assets (50)
Other income 591 452 1,665 1,320
Total noninterest income 2,542 3,017 7,156 8,721
Noninterest expenses        
Compensation and benefits 5,698 4,948 16,496 14,353
Occupancy 1,043 908 3,042 2,670
Real estate owned expenses 28 81 38 725
Outside service and data processing costs 794 690 2,362 1,916
Insurance 258 227 845 678
Professional fees 334 326 1,029 864
Marketing 199 195 605 625
Other 452 425 1,512 1,339
Total noninterest expenses 8,806 7,800 25,929 23,170
Income before income tax expense 6,545 5,272 16,995 15,226
Income tax expense 2,295 1,839 6,030 5,481
Net income available to common shareholders $ 4,250 $ 3,433 $ 10,965 $ 9,745
Earnings per common share        
Basic $ 0.58 $ 0.54 $ 1.59 $ 1.55
Diluted $ 0.55 $ 0.51 $ 1.50 $ 1.45
Weighted average common shares outstanding        
Basic 7,281,594 6,322,073 6,905,017 6,299,009
Diluted 7,668,476 6,740,751 7,291,164 6,702,475