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CONSOLIDATED STATEMENTS OF INCOME - (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        
Interest and fees on loans $ 18,114 $ 16,660 $ 35,532 $ 32,173
Interest and dividends on securities 975 880 1,910 1,689
Interest on cash and cash equivalents 325 148 579 262
Total interest income 19,414 17,688 38,021 34,124
Interest expense        
Interest expense on deposits 4,309 3,095 7,965 5,676
Interest on borrowings 1,197 952 2,443 1,859
Total interest expense 5,506 4,047 10,408 7,535
Net interest income 13,908 13,641 27,613 26,589
Provision for loan losses 310 895 323 1,438
Net interest income after provision for loan losses 13,598 12,746 27,290 25,151
Noninterest income        
Gains and fees from sales of loans 315 199 685 523
Bank owned life insurance 265 295 528 586
Service charges and fees 265 261 521 501
Net gain on sale of available for sale securities 0 0 222 165
Other 262 243 484 489
Total noninterest income 1,107 998 2,440 2,264
Noninterest expense        
Salaries and employee benefits 4,539 3,800 9,567 7,729
Occupancy and equipment 1,731 1,439 3,348 3,131
Data processing 509 401 1,034 846
Marketing 479 311 776 577
Professional services 424 523 1,199 935
Director fees 274 243 489 476
FDIC insurance 203 243 417 626
Amortization of intangibles 24 31 48 62
Other 581 590 1,089 1,433
Total noninterest expense 8,764 7,581 17,967 15,815
Income before income tax expense 5,941 6,163 11,763 11,600
Income tax expense 1,226 2,394 2,448 4,129
Net income $ 4,715 $ 3,769 $ 9,315 $ 7,471
Earnings Per Common Share:        
Basic (in dollars per share) $ 0.60 $ 0.49 $ 1.19 $ 0.98
Diluted (in dollars per share) $ 0.60 $ 0.49 $ 1.19 $ 0.97
Weighted Average Common Shares Outstanding:        
Basic (in shares) 7,722,892 7,550,734 7,699,977 7,538,069
Diluted (in shares) 7,761,560 7,645,930 7,747,068 7,638,350
Dividends per common share (in dollars per share) $ 0.12 $ 0.07 $ 0.24 $ 0.14