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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest income        
Loans $ 10,941 $ 9,309 $ 21,341 $ 18,127
Investment securities 356 465 731 977
Federal funds sold 19 16 45 30
Total interest income 11,316 9,790 22,117 19,134
Interest expense        
Deposits 854 696 1,621 1,376
Borrowings 971 1,024 1,935 2,044
Total interest expense 1,825 1,720 3,556 3,420
Net interest income 9,491 8,070 18,561 15,714
Provision for loan losses 1,000 950 1,625 1,950
Net interest income after provision for loan losses 8,491 7,120 16,936 13,764
Noninterest income        
Loan and mortgage fee income 1,409 613 2,605 955
Service fees on deposit accounts 219 231 445 445
Income from bank owned life insurance 165 167 332 329
Gain on sale of investment securities 36 230 295 230
Other income 286 277 580 529
Total noninterest income 2,115 1,518 4,256 2,488
Noninterest expenses        
Compensation and benefits 4,106 3,514 8,382 6,925
Occupancy 842 730 1,579 1,457
Real estate owned expenses 93 12 855 25
Data processing and related costs 573 622 1,158 1,216
Insurance 213 203 415 395
Professional fees 233 294 466 517
Marketing 222 197 460 398
Other 364 743 791 1,152
Total noninterest expenses 6,646 6,315 14,106 12,085
Income before income tax expense 3,960 2,323 7,086 4,167
Income tax expense 1,400 757 2,498 1,351
Net income $ 2,560 1,566 $ 4,588 2,816
Preferred stock dividend   253   445
Net income available to common shareholders $ 2,560 $ 1,313 $ 4,588 $ 2,371
Earnings per common share        
Basic $ 0.41 $ 0.28 $ 0.74 $ 0.51
Diluted $ 0.39 $ 0.26 $ 0.70 $ 0.48
Weighted average common shares outstanding        
Basic 6,233,745 4,763,407 6,229,522 4,686,748
Diluted 6,533,658 5,036,553 6,524,317 4,957,000