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Consolidated Statements of Earnings - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest income:        
Loans, including fees $ 16,731 $ 16,572 $ 33,353 $ 33,438
Securities and other investments:        
Taxable 2,416 1,940 4,743 3,976
Nontaxable 374 420 781 878
Federal funds sold 9 3 15 8
Time and interest bearing deposits in other banks 150 97 235 191
Other investments 78 90 162 178
Total interest income 19,758 19,122 39,289 38,669
Interest expense:        
Deposits 973 903 1,908 1,810
Securities sold under agreements to repurchase 236 233 470 466
Other borrowings and payables 91 91 179 204
Junior subordinated debentures 212 170 420 337
Total interest expense 1,512 1,397 2,977 2,817
Net interest income 18,246 17,725 36,312 35,852
Provision for loan losses 12,500 2,300 15,300 5,100
Net interest income after provision for loan losses 5,746 15,425 21,012 30,752
Non-interest income:        
Service charges on deposits 2,396 2,451 4,876 4,820
Gain on sale of securities, net 3 20 9 20
ATM and debit card income 1,766 1,668 3,469 3,277
Other charges and fees 1,058 1,000 1,913 1,766
Total non-interest income 5,223 5,139 10,267 9,883
Non-interest expenses:        
Salaries and employee benefits 9,451 8,182 18,140 16,172
Occupancy expense 4,189 3,667 7,813 7,264
ATM and debit card expense 713 792 1,434 1,577
Data Processing 667 478 1,288 936
FDIC insurance 430 420 827 849
Legal and Professional Fees 936 436 1,321 819
Other 3,218 3,066 6,011 6,183
Total non-interest expenses 19,604 17,041 36,834 33,800
(Loss) income before income tax (benefit) expense (8,635) 3,523 (5,555) 6,835
Income tax (benefit) expense (3,221) 1,030 (2,632) 1,993
Net (loss) earnings (5,414) 2,493 (2,923) 4,842
Dividends on preferred stock 811 811 1,622 1,238
Net (loss) earnings available to common shareholders $ (6,225) $ 1,682 $ (4,545) $ 3,604
(Loss) earnings per share:        
Basic (in dollars per share) $ (0.51) $ 0.15 $ (0.39) $ 0.32
Diluted (in dollars per share) $ (0.51) $ 0.15 $ (0.39) $ 0.32
Weighted average number of shares outstanding:        
Basic (in shares) 12,227 11,255 11,749 11,258
Diluted (in shares) 12,237 11,255 11,762 11,258
Dividends declared per common share (in dollars per share) $ 0.09 $ 0.09 $ 0.18 $ 0.18