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Consolidated Statements of Earnings (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Loans:        
Taxable $ 6,168 $ 5,359 $ 17,227 $ 15,624
Tax-exempt 152 33 216 102
Investment securities:        
Taxable 1,341 1,133 3,843 3,527
Tax-exempt 985 996 3,044 2,912
Total interest income 8,646 7,521 24,330 22,165
Interest expense:        
Deposits 833 418 2,005 1,150
Borrowings 633 501 1,715 1,469
Total interest expense 1,466 919 3,720 2,619
Net interest income 7,180 6,602 20,610 19,546
Provision for loan losses 450 100 900 250
Net interest income after provision for loan losses 6,730 6,502 19,710 19,296
Non-interest income:        
Fees and service charges 1,812 1,896 5,376 5,528
Gains on sales of loans, net [1] 1,476 1,220 4,105 4,301
Bank owned life insurance [1] 160 514 481 750
(Losses) gains on sales of investment securities, net (15) 39 20 363
Other 1,134 267 2,239 852
Total non-interest income 4,567 3,936 12,221 11,794
Non-interest expense:        
Compensation and benefits 4,244 3,933 11,999 11,608
Occupancy and equipment 1,108 1,107 3,258 3,228
Professional fees 386 478 1,204 1,244
Data processing 394 360 1,135 1,027
Amortization of intangibles 278 320 838 946
Advertising 166 166 498 498
Federal deposit insurance premiums 73 74 217 219
Foreclosure and real estate owned expense 24 (18) 49 83
Deposit-related loss 8,082 8,082
Other 1,039 1,120 3,520 3,316
Total non-interest expense 7,712 15,622 22,718 30,251
Earnings (loss) before income taxes 3,585 (5,184) 9,213 839
Income tax expense (benefit) 565 (2,523) 1,249 (1,088)
Net earnings (loss) $ 3,020 $ (2,661) $ 7,964 $ 1,927
Earnings (loss) per share:        
Basic [2] $ 0.73 $ (0.65) $ 1.93 $ 0.47
Diluted [2] 0.72 (0.65) 1.92 0.47
Dividends per share [2] $ 0.2 $ 0.19 $ 0.6 $ 0.57
[1] Not within the scope of ASC 606.
[2] Per share amounts for the periods ended September 30, 2017 have been adjusted to give effect to the 5% stock dividend paid during December 2017.