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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest Income        
Loans $ 11,661 $ 9,043 $ 22,850 $ 17,433
Securities – taxable 1,747 945 2,916 1,667
Securities – non-taxable 368 59 533 59
Other earning assets 195 83 365 158
Total interest income 13,971 10,130 26,664 19,317
Interest Expense        
Deposits 3,930 2,137 6,818 4,090
Other borrowed funds 735 421 1,399 881
Total interest expense 4,665 2,558 8,217 4,971
Net Interest Income 9,306 7,572 18,447 14,346
Provision for Loan Losses 924 304 1,870 746
Net Interest Income After Provision for Loan Losses 8,382 7,268 16,577 13,600
Noninterest Income        
Service charges and fees 215 193 415 369
Mortgage banking activities 3,295 2,214 5,549 5,100
Gain on sale of securities 177 0 177 0
Loss on asset disposals (48) (33) (64) (47)
Other 109 102 211 202
Total noninterest income 3,748 2,476 6,288 5,624
Noninterest Expense        
Salaries and employee benefits 4,329 3,787 8,227 7,365
Marketing, advertising, and promotion 434 334 898 786
Consulting and professional services 895 564 1,533 1,156
Data processing 275 233 549 481
Loan expenses 200 181 384 362
Premises and equipment 963 691 1,761 1,333
Deposit insurance premium 215 160 395 310
Other 564 377 1,133 791
Total noninterest expense 7,875 6,327 14,880 12,584
Income Before Income Taxes 4,255 3,417 7,985 6,640
Income Tax Provision 1,421 1,152 2,719 2,312
Net Income $ 2,834 $ 2,265 $ 5,266 $ 4,328
Income Per Share of Common Stock        
Basic (in dollars per share) $ 0.57 $ 0.50 $ 1.11 $ 0.96
Diluted (in dollars per share) $ 0.57 $ 0.50 $ 1.10 $ 0.95
Weighted-Average Number of Common Shares Outstanding        
Basic (in shares) 4,972,759 4,529,823 4,757,243 4,523,336
Diluted (in shares) 4,992,025 4,550,034 4,782,700 4,536,736
Dividends Declared Per Share (in dollars per share) $ 0.06 $ 0.06 $ 0.12 $ 0.12