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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
INTEREST AND DIVIDEND INCOME:        
Loans including fees $ 34,295 $ 28,975 $ 67,119 $ 55,432
Securities:        
Taxable 3,155 2,180 6,133 4,164
Tax-exempt 584 683 1,281 1,377
Dividends 248 261 502 513
Total interest and dividend income 38,282 32,099 75,035 61,486
INTEREST EXPENSE:        
Deposits 7,201 3,687 13,788 6,611
Borrowed funds 1,292 1,604 2,702 3,092
Subordinated debentures (includes $14, $46, $20 and $105 accumulated other comprehensive income reclassification for change in fair value of interest rate swap agreements, respectively) 995 982 1,993 1,857
Total interest expense 9,488 6,273 18,483 11,560
NET INTEREST INCOME 28,794 25,826 56,552 49,926
PROVISION FOR LOAN LOSSES 1,788 1,905 3,094 3,536
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 27,006 23,921 53,458 46,390
NON-INTEREST INCOME:        
Service charges on deposit accounts 1,569 1,271 3,050 2,518
Other service charges and fees 748 723 1,394 1,341
Wealth and asset management fees 1,202 1,090 2,244 2,120
Net realized gains on available-for-sale securities (includes $0, $0, $148 and $0 accumulated other comprehensive income reclassifications for net realized gains on available-for-sale securities, respectively) 0 0 148 0
Net realized and unrealized gains on trading securities 654 237 1,454 251
Mortgage banking 370 310 609 518
Bank owned life insurance 326 339 687 739
Card processing and interchange income 1,221 1,103 2,250 2,074
Other 702 533 1,109 796
Total non-interest income 6,792 5,606 12,945 10,357
NON-INTEREST EXPENSES:        
Salaries and benefits 11,507 10,131 22,407 19,666
Net occupancy expense 2,695 2,634 5,561 5,130
Amortization of core deposit intangible 166 248 331 496
Data processing 1,437 1,147 2,622 2,221
State and local taxes 954 833 1,722 1,686
Legal, professional, and examination fees 570 550 1,123 1,058
Advertising 473 581 884 1,178
FDIC insurance premiums 373 378 795 676
Card processing and interchange expenses 684 638 1,431 1,372
Other 3,125 2,403 6,283 5,059
Total non-interest expenses 21,984 19,543 43,159 38,542
INCOME BEFORE INCOME TAXES 11,814 9,984 23,244 18,205
INCOME TAX EXPENSE (includes ($3), ($10), $27 and ($22) income tax expense from reclassification items, respectively) 2,047 1,543 4,004 2,667
NET INCOME $ 9,767 $ 8,441 $ 19,240 $ 15,538
EARNINGS PER SHARE:        
Basic (in dollars per share) $ 0.64 $ 0.55 $ 1.26 $ 1.02
Diluted (in dollars per share) 0.64 0.55 1.26 1.02
DIVIDENDS PER SHARE:        
Cash dividends per share (in dollars per share) $ 0.170 $ 0.165 $ 0.340 $ 0.330