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Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income:        
Interest and fees on loans $ 18,523 $ 14,243 $ 35,964 $ 27,256
Interest and dividends on investments 290 332 605 681
Interests on federal funds sold and deposits with banks 1,011 308 1,612 453
Total interest income 19,824 14,883 38,181 28,390
Interest expense:        
Interest on deposits 4,520 2,620 8,483 4,573
Interest on borrowings 1,013 665 1,975 1,196
Total interest expense 5,533 3,285 10,458 5,769
Net interest income 14,291 11,598 27,723 22,621
Provision for loan losses 450 200 1,150 600
Net interest income after provision for loan losses 13,841 11,398 26,573 22,021
Noninterest income:        
Gain on sale of SBA loans 0 36 40 214
Loan fees 285 409 476 560
Bank owned life insurance income 150 153 297 303
Service fees on deposit accounts 487 399 868 685
Loss on sale and valuation adjustments of OREO (343) (509) (343) (509)
Other 187 158 347 260
Total noninterest income 766 646 1,685 1,513
Noninterest expense:        
Compensation and benefits 2,319 1,953 4,460 3,907
Professional services 521 418 912 792
Occupancy and equipment 473 419 944 840
Data processing 250 194 468 391
FDIC insurance and other assessments 34 92 61 169
OREO expense 117 165 192 334
Other operating expense 803 753 1,640 1,456
Total noninterest expense 4,517 3,994 8,677 7,889
Income before income tax expense 10,090 8,050 19,581 15,645
Income tax expense 2,481 1,923 4,797 3,758
Net income attributable to Company and noncontrolling interest 7,609 6,127 14,784 11,887
Less: Net income attributable to noncontrolling interest (141) (16) (255) (16)
Net income attributable to Company 7,468 6,111 14,529 11,871
Preferred stock dividend and discount accretion 8 168 9 407
Net income available to common shareholders $ 7,460 $ 5,943 $ 14,520 $ 11,464
Earnings per common share:        
Basic (in dollars per share) $ 0.69 $ 0.66 $ 1.35 $ 1.28
Diluted (in dollars per share) $ 0.68 $ 0.56 $ 1.33 $ 1.09
Weighted average shares outstanding:        
Basic (in shares) 10,761,253 9,044,159 10,753,120 8,933,820
Diluted (in shares) 10,918,872 10,909,130 10,915,533 10,909,294