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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        
Loans and leases, including fees $ 8,112 $ 5,616 $ 15,602 $ 10,483
Securities 43 47 85 90
FHLB and FRB stock dividends 53 48 107 95
Federal funds sold and other 297 156 652 303
Total interest and dividend income 8,505 5,867 16,446 10,971
Interest expense        
Deposits 2,876 1,288 5,309 2,330
FHLB advances and other debt 144 165 295 257
Subordinated debentures 256 67 513 126
Total interest expense 3,276 1,520 6,117 2,713
Net interest income 5,229 4,347 10,329 8,258
Provision for loan and lease losses
Net interest income after provision for loan losses 5,229 4,347 10,329 8,258
Noninterest income        
Service charges on deposit accounts 138 118 262 236
Net gains on sales of loans 2,362 509 3,865 817
Earnings on bank owned life insurance 35 35 69 68
Other 30 70 63 92
Total noninterest income 2,565 732 4,259 1,213
Noninterest expense        
Salaries and employee benefits 2,643 2,013 5,144 3,910
Occupancy and equipment 228 182 446 349
Data processing 293 227 609 458
Franchise and other taxes 106 103 212 205
Professional fees 356 254 644 504
Director fees 133 98 264 195
Postage, printing and supplies 59 52 126 101
Advertising and marketing 616 370 1,242 637
Telephone 45 38 90 70
Loan expenses 45 28 91 43
Foreclosed assets, net     (9)  
Depreciation 78 62 149 121
FDIC premiums 152 99 304 187
Regulatory assessment 40 35 82 69
Other insurance 24 19 47 41
Other 113 90 184 194
Total noninterest expense 4,931 3,670 9,625 7,084
Income before incomes taxes 2,863 1,409 4,963 2,387
Income tax expense 583 279 1,002 465
Net income 2,280 1,130 3,961 1,922
Accretion of discount and value of warrants exercised related to Series B preferred stock 157 (12) 183 (38)
Net income attributable to common stockholders $ 2,437 $ 1,118 $ 4,144 $ 1,884
Earnings per common share:        
Basic (Restated - See Note 1) $ 0.55 $ 0.26 $ 0.95 $ 0.44
Diluted (Restated - See Note 1) $ 0.55 $ 0.25 $ 0.93 $ 0.42