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Consolidated Statements of Income - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Interest and Dividend Income      
Loans receivable $ 68,474,000 $ 51,231,000 $ 46,785,000
Investment securities 10,363,000 7,037,000 6,500,000
Federal Home Loan Bank stock 606,000 470,000 441,000
Deposits with financial institutions 251,000 130,000 76,000
Total interest and dividend income 79,694,000 58,868,000 53,802,000
Interest Expense      
Deposits 10,856,000 6,815,000 5,296,000
Federal Home Loan Bank advances 4,869,000 3,604,000 3,604,000
Other 866,000 192,000 347,000
Total interest expense 16,591,000 10,611,000 9,247,000
Net Interest Income 63,103,000 48,257,000 44,555,000
Provision for loan losses 2,120,000 1,220,000 850,000
Net Interest Income After Provision for Loan Losses 60,983,000 47,037,000 43,705,000
Non-interest Income      
Service fee income 7,937,000 6,584,000 6,124,000
Net realized gain on sales of available for sale securities 804,000 708,000 1,023,000
Commissions 4,865,000 5,027,000 5,049,000
Net gains on sales of loans 3,126,000 3,887,000 4,761,000
Net servicing fees 591,000 391,000 332,000
Increase in cash value of life insurance 1,239,000 1,113,000 1,159,000
Loss on sale of other real estate and repossessed assets (43,000) (122,000) (210,000)
Other income 1,055,000 488,000 1,184,000
Total non-interest income 19,574,000 18,076,000 19,422,000
Non-interest Expenses      
Salaries and employee benefits 32,964,000 27,229,000 27,427,000
Net occupancy expenses 3,965,000 3,133,000 2,308,000
Equipment expenses 2,514,000 1,773,000 1,818,000
Data processing fees 2,624,000 2,321,000 1,991,000
ATM and debit card expenses 2,290,000 1,676,000 1,536,000
Deposit insurance 898,000 724,000 788,000
Professional fees 2,177,000 1,855,000 1,807,000
Advertising and promotion 1,606,000 1,223,000 1,204,000
Software subscriptions and maintenance 2,719,000 2,202,000 2,117,000
Intangible amortization 1,103,000 264,000 420,000
Other real estate and repossessed assets 189,000 165,000 73,000
Other expenses 5,684,000 3,440,000 4,011,000
Total non-interest expenses 58,733,000 46,005,000 45,500,000
Income Before Income Tax 21,824,000 19,108,000 17,627,000
Income tax expense 2,960,000 6,793,000 4,386,000
Net Income $ 18,864,000 $ 12,315,000 $ 13,241,000
Earnings Per Common Share      
Basic $ 2.25 $ 1.67 $ 1.79
Diluted 2.21 1.64 1.76
Dividends Per Common Share $ 0.74 $ 0.66 $ 0.58