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Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest income        
Loans $ 14,163 $ 12,470 $ 28,335 $ 24,546
Securities held-to-maturity 8,128 9,371 15,940 17,539
Securities available-for-sale 1,143 737 2,107 1,469
Federal funds sold and interest-bearing deposits in other banks 308 97 623 293
Total interest income 23,742 22,675 47,005 43,847
Interest expense        
Savings and NOW deposits 938 692 1,776 1,320
Money market accounts 781 734 1,576 1,516
Time deposits 1,394 1,207 2,752 2,363
Securities sold under agreements to repurchase 126 128 241 242
Other borrowed funds and subordinated debentures 2,247 2,200 4,554 4,285
Total interest expense 5,486 4,961 10,899 9,726
Net interest income 18,256 17,714 36,106 34,121
Provision for loan losses 350   800 200
Net interest income after provision for loan losses 17,906 17,714 35,306 33,921
Other operating income        
Service charges on deposit accounts 1,962 1,934 3,899 3,847
Lockbox fees 883 888 1,672 1,676
Net gains on sales of securities 45 118 45 118
Gains on sales of mortgage loans 798 418 798 517
Other income 955 852 1,883 1,557
Total other operating income 4,643 4,210 8,297 7,715
Operating expenses        
Salaries and employee benefits 10,040 9,480 19,816 18,614
Occupancy 1,551 1,517 3,130 3,122
Equipment 679 659 1,315 1,252
FDIC assessments 592 545 1,160 1,048
Other 3,426 3,565 6,549 6,268
Total operating expenses 16,288 15,766 31,970 30,304
Income before income taxes 6,261 6,158 11,633 11,332
Provision for income taxes 20 233 84 448
Net income 6,241 5,925 11,549 10,884
Class A Common Stock [Member]        
Operating expenses        
Net income $ 4,902 $ 4,654 $ 9,071 $ 8,549
Share data:        
Weighted average number of shares outstanding, basic 3,600,729 3,600,729 3,600,729 3,600,729
Weighted average number of shares outstanding, diluted 5,567,909 5,567,909 5,567,909 5,567,909
Basic earnings per share $ 1.36 $ 1.29 $ 2.52 $ 2.37
Diluted earnings per share $ 1.12 $ 1.06 $ 2.07 $ 1.95
Class B Common Stock [Member]        
Operating expenses        
Net income $ 1,339 $ 1,271 $ 2,478 $ 2,335
Share data:        
Weighted average number of shares outstanding, basic 1,967,180 1,967,180 1,967,180 1,967,180
Weighted average number of shares outstanding, diluted 1,967,180 1,967,180 1,967,180 1,967,180
Basic earnings per share $ 0.68 $ 0.65 $ 1.26 $ 1.19
Diluted earnings per share $ 0.68 $ 0.65 $ 1.26 $ 1.19