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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest and Dividend Income        
Interest and fees on loans $ 15,819 $ 11,292 $ 30,686 $ 21,865
Interest and dividends on securities held-to-maturity 13 13 26 26
Interest and dividends on securities available-for-sale 886 673 1,777 1,330
Dividends on restricted stock 79 60 146 113
Interest on deposits at other financial institutions 193 32 315 77
Total interest and dividend income 16,990 12,070 32,950 23,411
Interest Expense        
Interest on deposits 4,192 2,286 7,932 4,434
Interest on federal funds purchased 32 1 93 1
Interest on short-term debt   32   67
Interest on subordinated notes 395 395 790 790
Total interest expense 4,619 2,714 8,815 5,292
Net Interest Income 12,371 9,356 24,135 18,119
Provision for loan losses 505 281 1,020 639
Net interest income after provision for loan losses 11,866 9,075 23,115 17,480
Noninterest Income        
Service charges on deposit accounts 229 152 411 293
BOLI income 110 108 215 219
Other fee income 200 103 651 236
Total noninterest income 539 363 1,277 748
Noninterest Expenses        
Salaries and employee benefits 4,245 3,324 8,183 6,509
Occupancy and equipment expense 873 580 1,700 1,152
Data processing and network administration 343 285 782 565
State franchise taxes 426 296 848 592
Audit, legal and consulting fees 274 132 404 288
Merger and acquisition expense 16 397 83 397
Loan related expenses 99 61 168 118
FDIC insurance 111 117 222 225
Marketing, business development and advertising 131 94 289 180
Director fees 122 122 243 233
Postage, courier and telephone 41 48 94 100
Internet banking 101 75 208 142
Core deposits intangible amortization 97 5 198 10
Other operating expenses 397 286 758 571
Total noninterest expenses 7,276 5,822 14,180 11,082
Net income before income tax expense 5,129 3,616 10,212 7,146
Income tax expense 1,044 539 2,201 1,072
Net income $ 4,085 $ 3,077 $ 8,011 $ 6,074
Earnings per share, basic $ 0.30 $ 0.28 $ 0.58 $ 0.55
Earnings per share, diluted $ 0.28 $ 0.26 $ 0.54 $ 0.50