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Condensed Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Interest Income        
Loans $ 7,218 $ 5,170 $ 19,918 $ 15,073
Securities – taxable 684 771 2,421 2,063
Securities – non-taxable 0 447 58 1,146
Other earning assets 45 54 195 148
Total interest income 7,947 6,442 22,592 18,430
Interest Expense        
Deposits 1,958 1,758 5,740 5,042
Other borrowed funds 316 329 940 904
Total interest expense 2,274 2,087 6,680 5,946
Net Interest Income 5,673 4,355 15,912 12,484
Provision (Credit) for Loan Losses (112) (57) (38) 101
Net Interest Income After Provision (Credit) for Loan Losses 5,785 4,412 15,950 12,383
Noninterest Income        
Service charges and fees 179 177 533 515
Mortgage banking activities 1,638 1,299 3,767 7,767
Other-than-temporary impairment        
Total loss related to other-than-temporarily impaired securities 0 0 0 (129)
Portion of loss recognized in other comprehensive income 0 0 0 80
Other-than-temporary impairment loss recognized in net income 0 0 0 (49)
Gain (loss) on sale of securities 54 97 538 (69)
Loss on asset disposals (28) (34) (59) (121)
Other 100 102 297 304
Total noninterest income 1,943 1,641 5,076 8,347
Noninterest Expense        
Salaries and employee benefits 3,346 2,512 9,422 7,737
Marketing, advertising, and promotion 403 562 1,179 1,389
Consulting and professional services 431 577 1,383 1,791
Data processing 246 247 722 693
Loan expenses 208 209 458 574
Premises and equipment 548 534 1,816 1,468
Deposit insurance premium 155 85 437 313
Other 448 414 1,366 1,263
Total noninterest expense 5,785 5,140 16,783 15,228
Income Before Income Taxes 1,943 913 4,243 5,502
Income Tax Provision 661 186 1,384 1,575
Net Income $ 1,282 $ 727 $ 2,859 $ 3,927
Income Per Share of Common Stock        
Basic (in dollars per share) $ 0.29 $ 0.25 $ 0.64 $ 1.36
Diluted (in dollars per share) $ 0.28 $ 0.25 $ 0.63 $ 1.36
Weighted-Average Number of Common Shares Outstanding        
Basic (in shares) 4,497,762 2,890,369 4,496,228 2,888,274
Diluted (in shares) 4,511,291 2,903,816 4,505,801 2,889,039
Dividends Declared Per Share (in dollars per share) $ 0.06 $ 0.06 $ 0.18 $ 0.16