XML 35 R4.htm IDEA: XBRL DOCUMENT v3.3.0.814
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:        
Interest and fees on loans $ 9,532 $ 9,132 $ 28,238 $ 27,864
Interest and dividends on investments 365 256 950 811
Interest on federal funds sold and cash equivalents 21 29 63 84
Total interest income 9,918 9,417 29,251 28,759
Interest expense:        
Interest on deposits 1,219 1,206 3,548 3,569
Interest on borrowings 282 201 771 638
Total interest expense 1,501 1,407 4,319 4,207
Net interest income 8,417 8,010 24,932 24,552
Provision for loan losses 1,450 250 3,040 2,250
Net interest income after provision for loan losses 6,967 7,760 21,892 22,302
Noninterest income:        
Gain on sale of SBA loans 1,527 2,810 3,284 4,142
Loan fees 399 302 1,052 763
Net income from BOLI 90 90 267 269
Service fees on deposit accounts 73 76 209 191
Gain (loss) on sale and write-down of real estate owned (173) 261 (1,296) (173)
Realized gain on sale of AFS securities 0 0 0 178
Other 136 359 645 1,146
Total noninterest income 2,052 3,898 4,161 6,516
Noninterest expense:        
Compensation and benefits 1,872 1,629 5,781 5,234
Professional services 395 339 1,269 1,086
Occupancy and equipment 318 287 946 879
Data processing 134 118 384 363
FDIC insurance 173 201 507 692
OREO expense 450 1,379 1,361 3,387
Other operating expense 1,019 868 2,718 2,616
Total noninterest expense 4,361 4,821 12,966 14,257
Income before income tax expense 4,658 6,837 13,087 14,561
Income tax expense 1,730 2,149 4,638 4,575
Net income attributable to Company and noncontrolling interest 2,928 4,688 8,449 9,986
Net income attributable to noncontrolling interest (498) (1,233) (999) (1,719)
Net income attributable to Company 2,430 3,455 7,450 8,267
Preferred stock dividend and discount accretion 300 300 900 900
Net income available to common shareholders $ 2,130 $ 3,155 $ 6,550 $ 7,367
Earnings per common share:        
Basic (in dollars per share) $ 0.35 $ 0.53 $ 1.08 $ 1.23
Diluted (in dollars per share) $ 0.30 $ 0.44 $ 0.94 $ 1.04
Weighted average shares outstanding:        
Basic (in shares) 6,127,877 5,991,859 6,058,190 5,990,831
Diluted (in shares) 8,030,549 7,933,251 7,958,842 7,925,889