XML 15 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest income        
Loans $ 12,486 $ 11,362 $ 36,280 $ 32,703
Investment securities 395 371 1,342 1,102
Federal funds sold 31 33 122 79
Total interest income 12,912 11,766 37,744 33,884
Interest expense        
Deposits 957 941 2,891 2,563
Borrowings 1,075 987 3,153 2,922
Total interest expense 2,032 1,928 6,044 5,485
Net interest income 10,880 9,838 31,700 28,399
Provision for loan losses 825 875 2,025 2,500
Net interest income after provision for loan losses 10,055 8,963 29,675 25,899
Noninterest income        
Mortgage banking income 2,003 1,332 5,685 3,816
Service fees on deposit accounts 269 230 732 676
Income from bank owned life insurance 187 167 553 498
Gain on sale of investment securities 106 2 431 297
Other income 452 393 1,320 1,093
Total noninterest income 3,017 2,124 8,721 6,380
Noninterest expenses        
Compensation and benefits 4,948 4,313 14,353 12,695
Occupancy 908 845 2,670 2,424
Real estate owned expenses 81 148 725 1,003
Data processing and related costs 690 588 1,916 1,747
Insurance 227 215 678 630
Professional fees 326 180 864 646
Marketing 195 217 625 677
Other 425 365 1,339 1,155
Total noninterest expenses 7,800 6,871 23,170 20,977
Income before income tax expense 5,272 4,216 15,226 11,302
Income tax expense 1,839 1,489 5,481 3,987
Net income available to common shareholders $ 3,433 $ 2,727 $ 9,745 $ 7,315
Earnings per common share        
Basic $ 0.54 $ 0.44 $ 1.55 $ 1.18
Diluted $ 0.51 $ 0.41 $ 1.45 $ 1.12
Weighted average common shares outstanding        
Basic 6,322,073 6,205,877 6,299,009 6,194,418
Diluted 6,740,751 6,579,448 6,702,475 6,542,896