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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest income        
Interest and fees on loans (includes tax-exempt income of $822,000 as of September 30, 2018 and $589,000 as of September 30, 2017) $ 13,735 $ 11,648 $ 39,164 $ 33,415
Interest on deposits with other banks 115 23 132 46
Interest and dividends on investments (includes tax-exempt income of $5,208,000 as of September 30, 2018 and $4,890,000 as of September 30, 2017) 4,236 3,846 12,446 11,549
Total interest income 18,086 15,517 51,742 45,010
Interest expense        
Interest on deposits 4,274 2,473 11,131 6,769
Interest on borrowed funds 1,276 1,090 3,397 3,146
Total interest expense 5,550 3,563 14,528 9,915
Net interest income 12,536 11,954 37,214 35,095
Provision for loan losses 333 750 1,333 1,750
Net interest income after provision for loan losses 12,203 11,204 35,881 33,345
Non-interest income        
Net securities gains 1 468 137 471
Other operating income 1,413 1,360 4,259 4,050
Total non-interest income 3,034 3,493 9,347 9,338
Non-interest expense        
Salaries and employee benefits 4,460 4,267 13,230 12,110
Occupancy expense 574 589 1,871 1,816
Furniture and equipment expense 972 942 2,816 2,702
FDIC insurance premiums 337 259 950 762
Amortization of identified intangibles 10 10 32 32
Other operating expense 1,863 1,946 6,072 5,929
Total non-interest expense 8,216 8,013 24,971 23,351
Income before income taxes 7,021 6,684 20,257 19,332
Income tax expense 1,088 1,702 3,084 4,830
NET INCOME $ 5,933 $ 4,982 $ 17,173 $ 14,502
Basic earnings per common share (usd per share) $ 0.55 $ 0.46 $ 1.59 $ 1.35
Diluted earnings per common share (usd per share) $ 0.55 $ 0.46 $ 1.58 $ 1.34
Other comprehensive income (loss) net of tax        
Net unrealized gain (loss) on securities available for sale $ (1,888) $ (240) $ (6,232) $ 110
Net unrealized loss on securities transferred from available for sale to held to maturity, net of amortization (5) (3) (20) (11)
Net unrealized gain (loss) on cash flow hedging derivative instruments 216 (20) 738 (128)
Other comprehensive loss (1,677) (263) (5,514) (29)
Comprehensive income 4,256 4,719 11,659 14,473
Investment management and fiduciary income        
Non-interest income        
Non-interest income 743 655 2,285 1,995
Service charges on deposit accounts        
Non-interest income        
Non-interest income 527 511 1,624 1,562
Mortgage origination and servicing income, net of amortization        
Non-interest income        
Non-interest income $ 350 $ 499 $ 1,042 $ 1,260