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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
INTEREST AND DIVIDEND INCOME        
Loans, including fees $ 15,537 $ 10,922 $ 40,771 $ 30,874
Securities, Taxable 201 224 620 708
Securities, Tax-exempt 7 8 22 23
Money market funds and commercial paper 82 11 215 54
Other interest and dividends 574 159 1,261 565
Total interest and dividend income 16,401 11,324 42,889 32,224
INTEREST EXPENSE items        
Deposits 1,588 1,274 4,316 3,620
Borrowed funds 244 110 674 585
Trust Preferred Securities 165 122 469 380
Subordinated debt expense 440   918  
Total interest expense 2,437 1,506 6,377 4,585
Net interest income 13,964 9,818 36,512 27,639
Provision for loan and lease losses 1,200 190 3,560 2,000
Net interest income after provision for loan and lease losses 12,764 9,628 32,952 25,639
NON-INTEREST INCOME        
Service charges on deposit accounts 836 223 1,633 627
Other service charges and fees 523 201 939 982
Loan prepayment penalties 27 119 40 388
Debit card income 847 777 2,440 2,098
Net gains on sales of securities       40
Total non-interest income 2,233 1,320 5,052 4,135
NON-INTEREST EXPENSE        
Compensation and benefits 4,847 5,640 13,688 13,437
Bank premises and equipment 1,075 987 3,185 2,903
Directors fees 316 183 665 499
Insurance expense 60 88 204 251
Professional fees 976 407 1,865 1,184
FDIC assessment 349 182 624 507
Core processing fees 423 198 953 700
Other expenses 544 741 1,782 1,851
Total non-interest expense 8,590 8,426 22,966 21,332
Income before income taxes 6,407 2,522 15,038 8,442
Income tax expense 2,562 1,072 5,994 3,478
Net Income $ 3,845 $ 1,450 $ 9,044 $ 4,964
PER COMMON SHARE DATA        
Earnings (Loss) per share - basic $ 0.83 $ (0.52) $ 1.95 $ 0.45
Earnings (Loss) per share - diluted $ 0.82 $ (0.52) $ 1.94 $ 0.45