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Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest income:        
Interest and fees on loans $ 15,337 $ 12,404 $ 42,593 $ 34,409
Interest and dividends on investments 333 349 1,014 1,073
Interest on federal funds sold and cash equivalents 343 85 791 220
Total interest income 16,013 12,838 44,398 35,702
Interest expense:        
Interest on deposits 3,051 1,667 7,624 4,679
Interest on borrowings 686 480 1,882 1,276
Total interest expense 3,737 2,147 9,506 5,955
Net interest income 12,276 10,691 34,892 29,747
Provision for loan losses 600 500 1,200 2,000
Net interest income after provision for loan losses 11,676 10,191 33,692 27,747
Noninterest income:        
Gain on sale of SBA loans 13 351 227 435
Loan fees 277 221 837 463
Bank owned life insurance income 155 165 458 489
Service fees on deposit accounts 420 107 1,105 294
Gain (loss) on sale and valuation adjustments of OREO 150 (958) (359) (1,352)
Other 76 128 341 674
Total noninterest income 1,091 14 2,609 1,003
Noninterest expense:        
Compensation and benefits 2,048 1,677 5,955 5,270
Professional services 258 405 1,050 1,151
Occupancy and equipment 444 376 1,284 1,045
Data processing 213 164 604 532
FDIC insurance and other assessments 122 77 291 218
OREO expense 146 152 480 456
Other operating expense 703 761 2,159 2,189
Total noninterest expense 3,934 3,612 11,823 10,861
Income before income tax expense 8,833 6,593 24,478 17,889
Income tax expense 2,615 2,435 6,373 6,590
Net income attributable to Company and noncontrolling interest 6,218 4,158 18,105 11,299
Net (income) loss attributable to noncontrolling interest (92) 3 (108) 21
Net income attributable to Company 6,126 4,161 17,997 11,320
Preferred stock dividend and discount accretion 22 297 429 893
Net income available to common shareholders $ 6,104 $ 3,864 $ 17,568 $ 10,427
Earnings per common share:        
Basic (in dollars per share) $ 0.60 $ 0.46 $ 1.88 $ 1.25
Diluted (in dollars per share) $ 0.56 $ 0.38 $ 1.65 $ 1.05
Weighted average shares outstanding:        
Basic (in shares) 10,168,991 8,417,694 9,350,068 8,358,288
Diluted (in shares) 10,920,025 10,889,186 10,912,879 10,828,260