XML 16 R4.htm IDEA: XBRL DOCUMENT v3.4.0.3
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Interest income:    
Loans, including fees $ 19,188 $ 15,004
Securities, taxable 2,774 1,604
Securities, exempt from Federal tax 579 506
Other investments and interest-bearing deposits in other financial institutions 521 252
Total interest income 23,062 17,366
Interest expense:    
Deposits 747 508
Short-term borrowings 11  
Total interest expense 758 508
Net interest income before provision for loan losses 22,304 16,858
Provision (credit) for loan losses 401 (60)
Net interest income after provision for loan losses 21,903 16,918
Noninterest income:    
Service charges and fees on deposit accounts 767 623
Increase in cash surrender value of life insurance 449 400
Servicing income 371 306
Gain on sales of SBA loans 305 207
Gain on sales of securities 180  
Other 542 390
Total noninterest income 2,614 1,926
Noninterest expense:    
Salaries and employee benefits 8,947 8,042
Occupancy and equipment 1,085 1,045
Professional fees 825 95
Other 3,828 3,094
Total noninterest expense 14,685 12,276
Income before income taxes 9,832 6,568
Income tax expense 3,726 2,430
Net income 6,106 4,138
Dividends on preferred stock (504) (448)
Net income available to common shareholders $ 5,602 $ 3,690
Earnings per common share:    
Basic (in dollars per share) $ 0.16 $ 0.13
Diluted (in dollars per share) $ 0.16 $ 0.13