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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income        
Loans $ 21,680 $ 19,179 $ 42,989 $ 37,446
Securities held-to-maturity 14,595 11,135 28,383 21,423
Securities available-for-sale 2,490 2,329 5,121 4,321
Federal funds sold and interest-bearing deposits in other banks 927 765 2,276 1,648
Total interest income 39,692 33,408 78,769 64,838
Interest expense        
Savings and NOW deposits 5,877 2,583 11,342 4,806
Money market accounts 5,412 2,934 10,756 5,387
Time deposits 2,893 2,531 5,686 4,894
Securities sold under agreements to repurchase 490 188 875 369
Other borrowed funds and subordinated debentures 1,770 1,973 3,422 3,715
Total interest expense 16,442 10,209 32,081 19,171
Net interest income 23,250 23,199 46,688 45,667
Provision for loan losses 250 450 625 900
Net interest income after provision for loan losses 23,000 22,749 46,063 44,767
Other operating income        
Service charges on deposit accounts 2,282 2,064 4,491 4,131
Lockbox fees 992 621 2,081 1,412
Net gains on sales of securities 7   7 197
Gains on sales of mortgage loans 139   154  
Other income 1,577 1,037 2,691 2,175
Total other operating income 4,997 3,722 9,424 7,915
Operating expenses        
Salaries and employee benefits 10,916 10,536 21,951 21,761
Occupancy 1,522 1,461 3,223 3,098
Equipment 795 780 1,578 1,574
FDIC assessments 349 359 722 742
Other 4,682 4,023 8,980 7,985
Total operating expenses 18,264 17,159 36,454 35,160
Income before income taxes 9,733 9,312 19,033 17,522
Provision for income taxes 267 314 149 815
Net income $ 9,466 $ 8,998 $ 18,884 $ 16,707
Class A Common Stock [Member]        
Share data:        
Weighted average number of shares outstanding, basic 3,620,449 3,608,029 3,615,389 3,608,029
Weighted average number of shares outstanding, diluted 5,567,909 5,567,909 5,567,909 5,567,909
Basic earnings per share $ 2.06 $ 1.96 $ 4.11 $ 3.64
Diluted earnings per share $ 1.70 $ 1.62 $ 3.39 $ 3.00
Class B Common Stock [Member]        
Share data:        
Weighted average number of shares outstanding, basic 1,947,460 1,959,880 1,952,520 1,959,880
Weighted average number of shares outstanding, diluted 1,947,460 1,959,880 1,952,520 1,959,880
Basic earnings per share $ 1.03 $ 0.98 $ 2.06 $ 1.82
Diluted earnings per share $ 1.03 $ 0.98 $ 2.06 $ 1.82