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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest Income        
Loans $ 12,544 $ 9,326 $ 35,394 $ 26,759
Securities – taxable 2,148 994 5,064 2,661
Securities – non-taxable 637 116 1,170 175
Other earning assets 142 100 507 258
Total interest income 15,471 10,536 42,135 29,853
Interest Expense        
Deposits 4,368 2,260 11,186 6,350
Other borrowed funds 765 437 2,164 1,318
Total interest expense 5,133 2,697 13,350 7,668
Net Interest Income 10,338 7,839 28,785 22,185
Provision for Loan Losses 2,204 454 4,074 1,200
Net Interest Income After Provision for Loan Losses 8,134 7,385 24,711 20,985
Noninterest Income        
Service charges and fees 207 202 622 571
Mortgage banking activities 4,442 2,095 9,991 7,195
Gain on sale of securities 0 0 177 0
Gain (loss) on asset disposals 5 (27) (59) (74)
Other 244 104 455 306
Total noninterest income 4,898 2,374 11,186 7,998
Noninterest Expense        
Salaries and employee benefits 4,550 3,446 12,777 10,811
Marketing, advertising, and promotion 454 544 1,352 1,330
Consulting and professional services 901 544 2,434 1,700
Data processing 286 248 835 729
Loan expenses 240 97 624 459
Premises and equipment 983 676 2,744 2,009
Deposit insurance premium 420 163 815 473
Other 579 489 1,712 1,280
Total noninterest expense 8,413 6,207 23,293 18,791
Income Before Income Taxes 4,619 3,552 12,604 10,192
Income Tax Provision 1,521 1,229 4,240 3,541
Net Income $ 3,098 $ 2,323 $ 8,364 $ 6,651
Income Per Share of Common Stock        
Basic (in dollars per share) $ 0.55 $ 0.51 $ 1.66 $ 1.47
Diluted (in dollars per share) $ 0.55 $ 0.51 $ 1.65 $ 1.46
Weighted-Average Number of Common Shares Outstanding        
Basic (in shares) 5,597,867 4,532,360 5,039,497 4,526,377
Diluted (in shares) 5,622,181 4,574,455 5,063,299 4,549,447
Dividends Declared Per Share (in dollars per share) $ 0.06 $ 0.06 $ 0.18 $ 0.18