XML 14 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Interest and dividend income:    
Loans, including fees $ 17,147 $ 11,867
Securities:    
Taxable 186 214
Tax-exempt 7 7
Money market funds and commercial paper 119 63
Other interest and dividends 1,169 290
Total interest income 18,628 12,441
Interest expense:    
Deposits 1,439 1,259
Borrowed funds 150 187
Trust preferred securities payable 184 140
Subordinated debt 404 74
Total interest expense 2,177 1,660
Net interest income 16,451 10,781
Provision for loan losses 1,477 570
Net interest income after provision for loan losses 14,974 10,211
Non-interest income:    
Service charges on deposit accounts 1,910 291
Other service charges and fees 2,494 166
Loan prepayment penalties 65  
Debit card income 908 788
Total non-interest income 5,377 1,245
Non-interest expense:    
Compensation and benefits 6,317 4,577
Bank premises and equipment 1,180 1,073
Directors Fees 361 174
Insurance Expense 76 79
Professional fees 778 410
FDIC assessment 140 170
Core processing fees 1,368 251
Other expenses 1,018 500
Total non-interest expense 11,238 7,234
Net income before income tax expense 9,113 4,222
Income tax expense 2,822 1,674
Net Income $ 6,291 $ 2,548
Earnings per common share    
Earnings per share - basic (in dollars per share) $ 0.77 $ 0.55
Earnings per share - diluted (in dollars per share) $ 0.75 $ 0.55
Weighted average shares outstanding - basic (in shares) 8,124,028 4,543,925
Weighted average shares outstanding - diluted (in shares) 8,275,243 4,576,925