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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest and Dividend Income:        
Interest and fees on loans $ 22,470 $ 15,062 $ 60,737 $ 44,485
Interest and dividends on securities:        
Taxable 1,890 1,568 5,691 4,432
Tax-exempt 134 362 660 1,204
Dividends 135 82 324 240
Other interest income 329 143 853 516
Total interest and dividend income 24,958 17,217 68,265 50,877
Interest Expense:        
Interest on deposits 3,655 2,048 9,647 5,746
Interest on short-term borrowings 162 29 512 41
Interest on long-term borrowings 0 0 14 0
Interest on subordinated debt 123 0 245 0
Interest on junior subordinated debt 396 389 1,168 1,008
Total interest expense 4,336 2,466 11,586 6,795
Net Interest Income 20,622 14,751 56,679 44,082
Recovery of loan losses (12) (23) (6) (97)
Net Interest Income After Recovery of Loan Losses 20,634 14,774 56,685 44,179
Noninterest Income:        
Trust fees 979 1,001 2,826 2,875
Service charges on deposit accounts 783 605 2,101 1,809
Other fees and commissions 1,003 656 2,726 1,977
Mortgage banking income 710 551 1,702 1,492
Securities gains (losses), net 105 (17) 575 393
Brokerage fees 183 172 516 603
Income from Small Business Investment Companies 143 150 174 476
Gains (losses) on premises and equipment, net (2) 63 (89) 66
Other 267 199 773 585
Total noninterest income 4,171 3,380 11,304 10,276
Noninterest Expense:        
Salaries 6,295 5,285 18,007 15,377
Employee benefits 1,367 1,036 4,022 3,322
Occupancy and equipment 1,448 1,069 3,963 3,297
FDIC assessment (credit) (175) 134 119 412
Bank franchise tax 411 291 1,113 863
Core deposit intangible amortization 448 56 961 210
Data processing 589 420 1,838 1,309
Software 287 307 932 966
Other real estate owned, net 47 46 16 101
Merger related expense 0 0 11,322 0
Other 3,075 2,260 8,744 6,751
Total noninterest expense 13,792 10,904 51,037 32,608
Income Before Income Taxes 11,013 7,250 16,952 21,847
Income Taxes 2,321 1,465 3,487 4,270
Net Income $ 8,692 $ 5,785 $ 13,465 $ 17,577
Net Income Per Common Share:        
Basic (in dollars per share) $ 0.78 $ 0.66 $ 1.30 $ 2.02
Diluted (in dollars per share) $ 0.78 $ 0.66 $ 1.30 $ 2.02
Weighted Average Common Shares Outstanding:        
Basic 11,127,603 8,712,443 10,341,919 8,691,423
Diluted 11,138,008 8,718,918 10,351,753 8,703,662