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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest income        
Loans $ 11,362 $ 9,829 $ 32,703 $ 27,956
Investment securities 371 400 1,102 1,378
Federal funds sold 33 24 79 54
Total interest income 11,766 10,253 33,884 29,388
Interest expense        
Deposits 941 718 2,563 2,094
Borrowings 987 1,044 2,922 3,088
Total interest expense 1,928 1,762 5,485 5,182
Net interest income 9,838 8,491 28,399 24,206
Provision for loan losses 875 1,325 2,500 3,275
Net interest income after provision for loan losses 8,963 7,166 25,899 20,931
Noninterest income        
Loan and mortgage fee income 1,426 861 4,031 1,816
Service fees on deposit accounts 230 244 676 689
Income from bank owned life insurance 167 $ 169 498 498
Gain on sale of investment securities 2 297 230
Other income 299 $ 286 878 815
Total noninterest income 2,124 1,560 6,380 4,048
Noninterest expenses        
Compensation and benefits 4,313 3,459 12,695 10,384
Occupancy 845 777 2,424 2,235
Real estate owned expenses 148 71 1,003 96
Data processing and related costs 588 625 1,747 1,841
Insurance 215 209 630 604
Professional fees 180 193 646 591
Marketing 217 207 677 724
Other 365 525 1,155 1,676
Total noninterest expenses 6,871 6,066 20,977 18,151
Income before income tax expense 4,216 2,660 11,302 6,828
Income tax expense 1,489 834 3,987 2,185
Net income $ 2,727 1,826 $ 7,315 4,643
Preferred stock dividend 253 699
Net income available to common shareholders $ 2,727 $ 1,573 $ 7,315 $ 3,944
Earnings per common share        
Basic $ 0.44 $ 0.33 $ 1.17 $ 0.83
Diluted $ 0.41 $ 0.31 $ 1.12 $ 0.79
Weighted average common shares outstanding        
Basic 6,238,465 4,829,514 6,232,536 4,775,791
Diluted 6,579,448 5,046,487 6,542,896 4,984,553