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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest income        
Loans $ 23,275 $ 20,011 $ 46,034 $ 37,569
Loans held for sale 1,012 872 1,870 1,533
Securities available for sale, nontaxable 356 418 744 836
Securities available for sale, taxable 1,193 1,479 2,408 3,081
Securities held to maturity, nontaxable 61 52 112 114
Securities held to maturity, taxable 398 454 820 919
Federal Home Loan Bank stock dividends 274 227 554 441
Other interest earning assets 92 40 169 120
Total interest income 26,661 23,553 52,711 44,613
Interest expense        
Deposits 3,790 1,987 6,887 3,608
Federal Home Loan Bank advances 1,576 1,064 2,996 2,019
Repurchase agreements and other   8   16
Total interest expense 5,366 3,059 9,883 5,643
Net interest income 21,295 20,494 42,828 38,970
(Recovery) provision for loan losses (138) 842 269 2,317
Net interest income after provision for loan losses 21,433 19,652 42,559 36,653
Non-interest income        
Insurance agency income 513 472 1,090 945
Brokerage income 300 301 572 623
Deposit related fees 1,392 1,411 2,692 2,701
Mortgage servicing fees 813 729 1,625 1,465
Mortgage servicing rights valuation (20) (2) (11) (5)
Mortgage servicing rights amortization (542) (486) (1,042) (935)
Other service fees 61 33 99 62
Net gains (losses):        
Securities available for sale (includes $94, $301, $233, and $330, respectively, accumulated other comprehensive income reclassifications for unrealized net gains on available for sale securities) 94 301 233 330
Mortgage banking income 1,205 2,117 2,563 3,440
Real estate owned and other repossessed assets, net (113) (18) (191) (70)
Debit/credit card fees 1,177 1,326 2,126 2,249
Trust fees 473 420 942 702
Other income 499 486 973 967
Total non-interest income 5,852 7,090 11,671 12,474
Non-interest expense        
Salaries and employee benefits 8,937 8,749 18,935 17,724
Occupancy 950 943 2,050 1,907
Equipment and data processing 2,372 2,306 4,526 4,385
Financial institutions tax 495 510 991 1,000
Advertising 290 265 525 389
Amortization of intangible assets 132 113 245 196
FDIC insurance premiums 288 340 578 528
Other insurance premiums 109 109 218 221
Legal and consulting fees 147 184 446 413
Other professional fees 499 420 890 940
Supervisory fees 42   84  
Real estate owned and other repossessed asset expenses 34 23 70 85
Acquisition costs       4,962
Other expenses 1,235 1,214 2,572 2,716
Total non-interest expenses 15,530 15,176 32,130 35,466
Income before income taxes 11,755 11,566 22,100 13,661
Income tax expense (includes $20, $105, $49 and $115 income tax expense from reclassification items) 2,214 3,377 4,003 3,934
Net income 9,541 8,189 18,097 9,727
Other comprehensive (loss) income        
Unrealized (loss) gain on securities, available for sale, net of reclassifications and tax of $ 381, $842, $1,449 and $1,362, respectively (1,433) 1,562 (5,453) 2,527
Accretion of unrealized losses on securities transferred from available for sale to held to maturity, net of tax of $8, $17, $16 and $35, respectively 31 32 61 65
Total other comprehensive (loss) income (1,402) 1,594 (5,392) 2,592
Comprehensive income $ 8,139 $ 9,783 $ 12,705 $ 12,319
Earnings per share        
Basic $ 0.19 $ 0.16 $ 0.36 $ 0.20
Diluted $ 0.19 $ 0.16 $ 0.36 $ 0.20