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Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest income        
Loans $ 15,045 $ 14,051 $ 43,380 $ 38,597
Securities held-to-maturity 8,238 8,834 24,178 26,373
Securities available-for-sale 1,439 830 3,546 2,299
Federal funds sold and interest-bearing deposits in other banks 283 35 906 328
Total interest income 25,005 23,750 72,010 67,597
Interest expense        
Savings and NOW deposits 1,083 729 2,859 2,049
Money market accounts 909 760 2,485 2,276
Time deposits 1,464 1,231 4,216 3,594
Securities sold under agreements to repurchase 122 129 363 371
Other borrowed funds and subordinated debentures 2,213 2,285 6,767 6,570
Total interest expense 5,791 5,134 16,690 14,860
Net interest income 19,214 18,616 55,320 52,737
Provision for loan losses 375   1,175 200
Net interest income after provision for loan losses 18,839 18,616 54,145 52,537
Other operating income        
Service charges on deposit accounts 1,983 1,941 5,882 5,788
Lockbox fees 759 782 2,431 2,458
Net gains on sales of securities 19 52 64 170
Gains on sales of mortgage loans 533 225 1,331 742
Other income 931 830 2,814 2,387
Total other operating income 4,225 3,830 12,522 11,545
Operating expenses        
Salaries and employee benefits 10,544 10,087 30,360 28,701
Occupancy 1,509 1,499 4,639 4,621
Equipment 772 697 2,087 1,949
FDIC assessments 343 554 1,503 1,602
Other 3,462 3,263 10,012 9,531
Total operating expenses 16,630 16,100 48,601 46,404
Income before income taxes 6,434 6,346 18,066 17,678
Provision for income taxes (52) 180 32 628
Net income 6,486 6,166 18,034 17,050
Class A Common Stock [Member]        
Operating expenses        
Net income $ 5,094 $ 4,843 $ 14,165 $ 13,392
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 $ 1.41 $ 1.35 $ 3.93 $ 3.72
Diluted earnings per share $ 1.16 $ 1.11 $ 3.24 $ 3.06
Class B Common Stock [Member]        
Operating expenses        
Net income $ 1,392 $ 1,323 $ 3,869 $ 3,658
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 $ 0.71 $ 0.67 $ 1.97 $ 1.86
Diluted earnings per share $ 0.71 $ 0.67 $ 1.97 $ 1.86