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Condensed Consolidated Statements of 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        
Loans $ 26,019 $ 18,922 $ 71,833 $ 49,494
Securities – taxable 2,659 2,582 7,703 7,515
Securities – non-taxable 698 697 2,109 2,090
Other earning assets 847 493 1,973 960
Total interest income 30,223 22,694 83,618 60,059
Interest Expense        
Deposits 11,650 6,594 29,146 16,617
Other borrowed funds 2,603 1,909 7,626 4,820
Total interest expense 14,253 8,503 36,772 21,437
Net Interest Income 15,970 14,191 46,846 38,622
Provision for Loan Losses 888 1,336 2,405 3,693
Net Interest Income After Provision for Loan Losses 15,082 12,855 44,441 34,929
Noninterest Income        
Service charges and fees 236 226 697 657
Mortgage banking activities 1,402 2,535 4,577 6,306
Gain on sale of loans 0 0 414 0
Other 356 374 1,025 1,039
Total noninterest income 1,994 3,135 6,713 8,002
Noninterest Expense        
Salaries and employee benefits 5,704 5,197 17,436 15,463
Marketing, advertising and promotion 601 741 1,925 1,803
Consulting and professional services 709 897 2,193 2,474
Data processing 368 247 913 729
Loan expenses 241 262 738 724
Premises and equipment 1,244 1,080 3,689 3,058
Deposit insurance premium 441 375 1,386 990
Other 737 602 2,164 1,781
Total noninterest expense 10,045 9,401 30,444 27,022
Income Before Income Taxes 7,031 6,589 20,710 15,909
Income Tax Provision 743 1,694 2,386 4,181
Net Income $ 6,288 $ 4,895 $ 18,324 $ 11,728
Income Per Share of Common Stock        
Basic (in dollars per share) $ 0.61 $ 0.72 $ 1.99 $ 1.76
Diluted (in dollars per share) $ 0.61 $ 0.71 $ 1.98 $ 1.75
Weighted-Average Number of Common Shares Outstanding        
Basic (in shares) 10,261,967 6,834,011 9,230,149 6,656,160
Diluted (in shares) 10,273,766 6,854,614 9,250,839 6,683,379
Dividends Declared Per Share (in dollars per share) $ 0.06 $ 0.06 $ 0.18 $ 0.18