XML 15 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest income:        
Loans, including fees $ 26,355 $ 21,207 $ 48,639 $ 41,605
Securities, taxable 3,767 3,442 7,629 6,319
Securities, exempt from Federal tax 560 565 1,120 1,131
Other investments and interest-bearing deposits in other financial institutions and Federal funds sold 1,298 893 2,469 1,749
Total interest income 31,980 26,107 59,857 50,804
Interest expense:        
Deposits 1,239 946 2,197 1,817
Subordinated debt 577 228 1,148 228
Total interest expense 1,816 1,174 3,345 2,045
Net interest income before provision for loan losses 30,164 24,933 56,512 48,759
Provision for loan losses 7,198 (46) 7,704 275
Net interest income after provision for loan losses 22,966 24,979 48,808 48,484
Noninterest income:        
Service charges and fees on deposit accounts 972 801 1,874 1,541
Increase in cash surrender value of life insurance 237 420 600 842
Gain on sales of SBA loans 80 164 315 488
Servicing income 189 205 370 490
Gain (loss) on sales of securities 179   266 (6)
Other 1,123 703 1,550 1,233
Total noninterest income 2,780 2,293 4,975 4,588
Noninterest expense:        
Salaries and employee benefits 14,806 9,209 24,583 18,695
Occupancy and equipment 1,262 1,216 2,368 2,284
Professional fees (289)      
Professional fees   673 395 1,744
Other 9,083 4,156 13,506 7,859
Total noninterest expense 24,862 15,254 40,852 30,582
Income before income taxes 884 12,018 12,931 22,490
Income tax expense (31) 4,569 3,207 8,503
Net income $ 915 $ 7,449 $ 9,724 $ 13,987
Earnings per common share:        
Basic (in dollars per share) $ 0.02 $ 0.20 $ 0.24 $ 0.37
Diluted (in dollars per share) $ 0.02 $ 0.19 $ 0.24 $ 0.36