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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income        
Loans $ 22,817 $ 19,159 $ 65,804 $ 53,314
Investment securities 576 487 1,664 1,284
Federal funds sold and interest-bearing deposits with banks 663 219 1,288 980
Total interest income 24,056 19,865 68,756 55,578
Interest expense        
Deposits 6,409 3,928 17,959 10,191
Borrowings 368 436 1,161 1,232
Total interest expense 6,777 4,364 19,120 11,423
Net interest income 17,279 15,501 49,636 44,155
Provision for loan losses 650 400 1,250 1,300
Net interest income after provision for loan losses 16,629 15,101 48,386 42,855
Noninterest income        
Mortgage banking income 3,055 1,354 7,741 4,311
Service fees on deposit accounts 271 257 802 769
ATM and debit card income 464 381 1,287 1,085
Income from bank owned life insurance 282 221 720 662
Other income 324 320 930 898
Total noninterest income 4,396 2,533 11,480 7,725
Noninterest expenses        
Compensation and benefits 7,668 6,599 21,850 18,808
Occupancy 1,416 1,350 4,099 3,763
Outside service and data processing costs 1,073 841 3,078 2,400
Insurance 145 376 743 987
Professional fees 399 275 1,252 1,208
Marketing 237 215 733 652
Other 546 532 1,745 1,554
Total noninterest expenses 11,484 10,188 33,500 29,372
Income before income tax expense 9,541 7,446 26,366 21,208
Income tax expense 2,129 1,664 5,705 4,702
Net income available to common shareholders $ 7,412 $ 5,782 $ 20,661 $ 16,506
Earnings per common share        
Basic $ 0.98 $ 0.78 $ 2.75 $ 2.24
Diluted $ 0.95 $ 0.75 $ 2.66 $ 2.13
Weighted average common shares outstanding        
Basic 7,548,184 7,400,174 7,501,337 7,369,473
Diluted 7,780,504 7,746,205 7,759,611 7,741,483