XML 34 R4.htm IDEA: XBRL DOCUMENT v3.19.3
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income:        
Loans, including fees $ 25,515 $ 21,571 $ 75,768 $ 61,451
Securities available-for-sale:        
Taxable 748 839 2,591 2,611
Tax-exempt 338 129 1,173 240
Federal funds sold and other earning assets 743 529 2,059 1,137
Total interest income 27,344 23,068 81,591 65,439
Interest expense:        
Deposits 5,605 3,969 16,644 9,608
Securities sold under agreements to repurchase 5 11 19 35
Federal Home Loan Bank advances and other borrowings 10 209 231 568
Subordinated debt 584 19 1,757 19
Total interest expense 6,204 4,208 18,651 10,230
Net interest income 21,140 18,860 62,940 55,209
Provision for loan losses 724 302 1,914 1,607
Net interest income after provision for loan losses 20,416 18,558 61,026 53,602
Noninterest income:        
Customer service fees 767 624 2,129 1,753
Gain (loss) on sale of securities, net 1 0 34 (1)
Mortgage banking 518 493 1,192 1,181
Interchange and debit card transaction fees 148 144 467 409
Merger termination fee 0 0 6,400 0
Other 762 570 2,089 1,562
Total noninterest income 2,196 1,831 12,311 4,904
Noninterest expense:        
Salaries and employee benefits 9,072 7,934 26,357 22,759
Occupancy and equipment 1,635 1,638 4,967 4,694
FDIC insurance (219) 158 140 577
Other real estate and loan related expense 335 578 1,067 2,173
Advertising and marketing 263 228 817 627
Data processing 273 407 1,465 1,534
Professional services 573 727 1,724 1,987
Amortization of intangibles 341 248 1,027 664
Software as service contracts 560 507 1,696 1,477
Merger related and restructuring expenses 73 838 2,792 2,458
Other 1,802 1,497 5,045 4,346
Total noninterest expense 14,708 14,760 47,097 43,296
Income before income tax expense 7,904 5,629 26,240 15,210
Income tax expense 1,941 1,305 6,425 3,540
Net income $ 5,963 $ 4,324 $ 19,815 $ 11,670
Earnings per common share:        
Basic (in dollars per share) $ 0.43 $ 0.34 $ 1.42 $ 0.97
Diluted (in dollars per share) $ 0.42 $ 0.34 $ 1.41 $ 0.96
Weighted average common shares outstanding:        
Basic (in shares) 13,955,859 12,718,861 13,949,325 12,049,151
Diluted (in shares) 14,053,432 12,817,556 14,038,414 12,143,838