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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest Income        
Interest and fees on loans $ 16,006 $ 14,376 $ 31,879 $ 28,457
Interest and dividends on investment securities 3,116 3,731 6,340 7,426
Other interest income 208 156 379 307
Total interest income 19,330 18,263 38,598 36,190
Interest Expense        
Deposits 1,732 1,741 3,464 3,443
Retail repurchase agreements 5 3 9 6
Federal Home Loan Bank advances 488 514 957 983
Other borrowed funds 278 287 568 561
Total interest expense 2,503 2,545 4,998 4,993
Net Interest Income before Recovery of Loan Losses 16,827 15,718 33,600 31,197
Recovery of provision for loan losses (788) (1,685) (1,926) (2,369)
Net Interest Income after Recovery of Loan Losses 17,615 17,403 35,526 33,566
Noninterest Income        
Service charges on deposit accounts 1,433 1,619 2,867 3,183
Mortgage loan income 314 261 779 435
Cardholder and merchant services income 1,218 1,209 2,343 2,322
Trust and investment services 403 399 725 757
Bank-owned life insurance 268 278 518 530
Other service charges, commissions and fees 421 332 804 684
Securities gains, net 0 720 0 720
Other income 97 75 152 205
Total noninterest income 4,154 4,893 8,188 8,836
Noninterest Expense        
Personnel expense 10,462 9,956 21,056 20,349
Net occupancy expense 1,211 1,512 2,680 3,065
Furniture, equipment and data processing expense 1,875 2,047 3,864 4,050
Professional fees 528 467 1,067 1,100
Stationery, printing and supplies 141 173 317 335
Advertising and marketing 134 147 320 300
Other real estate owned expense 506 954 865 1,215
Credit/debit card expense 498 604 1,042 1,199
FDIC insurance 456 595 909 1,234
Loan collection expense 313 551 613 1,208
Core deposit premium intangible amortization 352 352 704 704
Other expense 1,351 1,910 2,398 3,315
Total noninterest expense 17,827 19,268 35,835 38,074
Income before income taxes 3,942 3,028 7,879 4,328
Income tax expense 1,419 236 2,837 259
Net income (loss) $ 2,523 $ 2,792 $ 5,042 $ 4,069
Weighted average number of shares outstanding - basic 24,202,012 21,888,772 24,192,744 21,912,084
Weighted average number of shares outstanding - diluted 24,214,578 21,899,994 24,204,832 21,925,798
Net income per share - basic and diluted $ 0.10 $ 0.13 $ 0.21 $ 0.19