XML 19 R4.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Interest income:      
Loans, including fees $ 68,259 $ 49,207 $ 41,570
Securities, taxable 6,707 7,117 8,937
Securities, exempt from Federal tax 2,183 2,025 1,530
Other investments and interest-bearing deposits in other financial institutions 1,594 907 749
Total interest income 78,743 59,256 52,786
Interest expense:      
Deposits 2,403 2,032 2,369
Subordinated debt     229
Short-term borrowings 19 121 2
Total interest expense 2,422 2,153 2,600
Net interest income before provision for loan losses 76,321 57,103 50,186
Provision (credit) for loan losses 32 (338) (816)
Net interest income after provision for loan losses 76,289 57,441 51,002
Noninterest income:      
Service charges and fees on deposit accounts 2,803 2,519 2,457
Increase in cash surrender value of life insurance 1,697 1,600 1,654
Servicing income 1,143 1,296 1,446
Gain on sales of SBA loans 843 971 449
Gain on sales of securities 642 97 38
Other 1,857 1,263 1,170
Total noninterest income 8,985 7,746 7,214
Noninterest expense:      
Salaries and employee benefits 35,146 26,250 23,450
Occupancy and equipment 4,300 4,053 4,043
Professional fees 1,828 1,891 2,588
Other 17,399 12,028 10,389
Total noninterest expense 58,673 44,222 40,470
Income before income taxes 26,601 20,965 17,746
Income tax expense 10,104 7,538 6,206
Net income 16,497 13,427 11,540
Dividends and discount accretion on preferred stock (1,792) (1,008) (336)
Net income available to common shareholders $ 14,705 $ 12,419 $ 11,204
Earnings per common share:      
Basic (in dollars per share) $ 0.48 $ 0.42 $ 0.36
Diluted (in dollars per share) $ 0.48 $ 0.42 $ 0.36