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Consolidated Statement 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 $ 10,443 $ 6,459 $ 29,539 $ 18,949
Interest-bearing deposits in other institutions 107 15 248 42
Federal funds sold 5 7 9 16
Investment securities:        
Taxable interest 159 235 600 865
Tax-exempt interest 579 687 1,846 2,227
Dividends on stock 37 17 189 74
Total interest and dividend income 11,330 7,420 32,431 22,173
INTEREST EXPENSE        
Deposits 1,468 921 3,820 2,665
Short-term borrowings 202 49 652 288
Other borrowings 148 56 413 164
Total interest expense 1,818 1,026 4,885 3,117
NET INTEREST INCOME 9,512 6,394 27,546 19,056
Provision for loan losses 280 105 615 315
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 9,232 6,289 26,931 18,741
NONINTEREST INCOME        
Service charges on deposit accounts 479 505 1,397 1,443
Investment securities gains, net 398 886 303
Earnings on bank-owned life insurance 109 101 316 297
Gain on sale of loans 255 129 720 322
Other income 200 242 622 694
Total noninterest income 1,441 977 3,941 3,059
NONINTEREST EXPENSE        
Salaries and employee benefits 3,725 2,677 10,624 7,740
Occupancy expense 476 306 1,397 933
Equipment expense 242 221 789 700
Data processing costs 468 334 1,376 928
Ohio state franchise tax 186 186 558 448
Federal deposit insurance expense 165 132 368 396
Professional fees 434 547 1,230 1,057
Net loss on other real estate owned 18 48 88 247
Advertising expense 248 206 660 604
Core deposit intangible amortization 101 10 276 30
Merger expense 338 1,032
Other expense 896 995 2,870 2,832
Total noninterest expense 7,297 5,662 21,268 15,915
Income before income taxes 3,376 1,604 9,604 5,885
Income taxes 914 261 2,535 1,129
NET INCOME $ 2,462 $ 1,343 $ 7,069 $ 4,756
EARNINGS PER SHARE        
Basic (in dollars per share) $ 0.77 $ 0.60 $ 2.38 $ 2.31
Diluted (in dollars per share) 0.76 0.60 2.37 2.30
DIVIDENDS DECLARED PER SHARE (in dollars per share) $ 0.27 $ 0.27 $ 0.81 $ 0.81