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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Interest income      
Interest and fees on loans $ 55,720 $ 48,108 $ 39,112
Interest on securities available for sale 1,353 985 676
Other interest income 1,706 975 495
Total interest income 58,779 50,068 40,283
Interest expense      
Interest on deposits 14,507 8,964 4,470
Interest on borrowed funds   147 103
Total interest expense 14,507 9,111 4,573
Net interest income 44,272 40,957 35,710
Provision for loan losses 1,102 1,267 1,311
Net interest income after provision for loan losses 43,170 39,690 34,399
Noninterest income      
Service charges on deposits 2,015 1,916 1,656
Loan servicing fees, net of amortization 1,186 1,078 1,127
Gain on sale of loans 5,905 4,880 4,939
Other income 2,320 1,455 1,264
Total noninterest income 11,426 9,329 8,986
Noninterest expense      
Salaries and employee benefits 20,267 18,195 16,474
Occupancy and equipment 4,648 4,111 3,918
Data processing and communication 1,530 1,231 1,323
Professional fees 980 921 589
FDIC insurance and regulatory assessments 259 405 377
Promotion and advertising 806 814 631
Directors’ fees 908 851 796
Foundation donation and other contributions 1,586 1,441 954
Other expenses 1,536 1,593 1,195
Total noninterest expense 32,520 29,562 26,257
Income before income taxes 22,076 19,457 17,128
Provision for income taxes 5,319 5,204 7,892
Net income $ 16,757 $ 14,253 $ 9,236
Basic EPS $ 1.04 $ 0.92 $ 0.68
Diluted EPS $ 1.03 $ 0.89 $ 0.66