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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 and dividend income:        
Interest and fees on loans $ 17,200 $ 18,169 $ 49,992 $ 50,042
Interest on interest-earning deposits 371 80 731 236
Interest on investment securities 331 203 922 620
Dividend income on FHLB stock 118 155 353 416
Interest on federal funds sold and other 326 92 628 159
Total interest income 18,346 18,699 52,626 51,473
Interest expense:        
Interest on savings deposits, now and money market accounts 649 521 1,698 1,489
Interest on time deposits 2,061 1,801 5,903 5,144
Interest on subordinated debentures and other 908 903 2,720 1,824
Interest on other borrowed funds   16 29 24
Total interest expense 3,618 3,241 10,350 8,481
Net interest income 14,728 15,458 42,276 42,992
Provision (recapture) for credit losses 700 1,250 (3,488) 3,599
Net interest income after provision (recapture) for credit losses 14,028 14,208 45,764 39,393
Noninterest income:        
Service charges, fees and other 518 443 1,624 1,182
Gain on sale of loans 2,584 1,870 6,370 4,136
Loan servicing fees, net of amortization 314 95 571 384
Recoveries on loans acquired in business combinations 19 47 76 139
Increase in cash surrender value of life insurance 219 141 620 423
Gain on sale of securities       19
Gain on sale of OREO 142   142  
Total noninterest income 3,796 2,596 9,403 6,283
Noninterest expense:        
Salaries and employee benefits 4,178 3,481 12,604 10,547
Occupancy and equipment expenses 705 766 2,176 2,388
Data processing 458 563 1,264 1,488
Legal and professional 318 511 227 1,478
Office expenses 153 153 484 455
Marketing and business promotion 250 102 575 408
Insurance and regulatory assessments 201 284 611 810
Amortization of intangibles 87 103 268 268
OREO expenses 6 6 34 16
Other expenses 844 1,068 2,495 4,516
Total noninterest expense 7,200 7,037 20,738 22,374
Income before income taxes 10,624 9,767 34,429 23,302
Income tax expense 4,013 4,070 13,789 9,609
Net income $ 6,611 $ 5,697 $ 20,640 $ 13,693
Net income per share        
Basic $ 0.45 $ 0.44 $ 1.53 $ 1.07
Diluted $ 0.42 $ 0.42 1.42 1.00
Cash dividends declared per common share     $ 0.30 $ 0.20