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CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest and dividend income:        
Loans, including fees $ 17,996 $ 13,367 $ 35,143 $ 25,234
Securities:        
Taxable 177 204 363 419
Tax-exempt 8 8 15 15
Money market funds and commercial paper 121 70 240 134
Overnight deposits 1,534 293 2,577 481
Other interest and dividends 162 105 288 206
Total interest income 19,998 14,047 38,626 26,489
Interest expense:        
Deposits 1,799 1,468 3,238 2,728
Borrowed funds 191 243 341 429
Trust preferred securities interest expense 208 165 392 305
Subordinated debt interest expense 405 405 809 478
Total interest expense 2,603 2,281 4,780 3,940
Net interest income 17,395 11,766 33,846 22,549
Provision for loan losses 1,270 1,790 2,747 2,360
Net interest income after provision for loan losses 16,125 9,976 31,099 20,189
Non-interest income:        
Loan prepayment penalties   13 65 13
Losses on call of securities (37)   (37)  
Total non-interest income 2,649 1,573 8,026 2,818
Non-interest expense:        
Compensation and benefits 6,126 4,264 12,443 8,841
Bank premises and equipment 1,288 1,037 2,468 2,110
Directors fees 210 175 571 349
Insurance expense 73 65 149 144
Professional fees 841 480 1,619 890
FDIC assessment 123 105 263 275
Data processing fees 609 291 2,115 550
Other expenses 1,005 724 1,885 1,216
Total non-interest expense 10,275 7,141 21,513 14,375
Net income before income tax expense 8,499 4,408 17,612 8,632
Income tax expense 2,634 1,757 5,456 3,431
Net income $ 5,865 $ 2,651 $ 12,156 $ 5,201
Earnings per share:        
Basic earnings (in dollars per share) $ 0.72 $ 0.57 $ 1.48 $ 1.12
Diluted earnings (in dollars per share) $ 0.70 $ 0.57 $ 1.46 $ 1.12
Service charges on deposit accounts        
Non-interest income:        
Non-interest income $ 821 $ 505 $ 2,731 $ 796
Prepaid debit card income        
Non-interest income:        
Non-interest income 1,519 805 2,427 1,593
Other service charges and fees        
Non-interest income:        
Non-interest income $ 346 $ 250 $ 2,840 $ 416