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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Income Statement [Abstract]        
Loans receivable including fees $ 7,730 $ 6,339 $ 22,042 $ 17,013
Interest and dividends on investment securities, cash and cash equivalents, and certificates of deposit at other financial institutions 329 264 874 950
Total interest and dividend income 8,059 6,603 22,916 17,963
Deposits 866 675 2,425 1,818
Borrowings 56 76 195 197
Total interest expense 922 751 2,620 2,015
NET INTEREST INCOME 7,137 5,852 20,296 15,948
PROVISION FOR LOAN LOSSES 600 450 1,800 1,350
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 6,537 5,402 18,496 14,598
Service charges and fee income 528 458 1,452 1,301
Gain on sale of loans 3,632 1,789 11,565 5,092
(Loss) gain on sale of investment securities 0 (51) 76 (41)
Increase in cash surrender value of BOLI 51 47 146 139
Other noninterest income 165 141 486 401
Total noninterest income 4,376 2,384 13,725 6,892
Salaries and benefits 4,295 3,557 12,461 9,920
Operations 1,118 932 3,209 2,403
Occupancy 497 420 1,388 1,221
Data processing 380 331 1,132 918
Other real estate owned (OREO) fair value impairments, net of loss on sales 0 11 0 42
OREO expense 0 10 0 13
Loan costs 379 316 1,129 1,012
Professional and board fees 479 317 1,268 919
FDIC insurance 69 62 229 188
Marketing and advertising 183 138 458 371
Business Combination, Acquisition Related Costs 432 0 432 0
Recovery on servicing rights 0 (18) 0 (19)
Total noninterest expense 7,832 6,076 21,706 16,988
INCOME BEFORE PROVISION FOR INCOME TAXES 3,081 1,710 10,515 4,502
PROVISION FOR INCOME TAXES 1,086 564 3,656 1,495
NET INCOME $ 1,995 $ 1,146 $ 6,859 $ 3,007
Basic earnings per share (in dollars per share) $ 0.67 $ 0.39 $ 2.31 $ 1.00
Diluted earnings per share (in dollars per share) $ 0.66 $ 0.39 $ 2.28 $ 1.00