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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income        
Loans $ 22,117 $ 20,167 $ 65,106 $ 57,613
Securities held-to-maturity 14,623 11,507 43,006 32,930
Securities available-for-sale 2,184 2,500 7,305 6,821
Federal funds sold and interest-bearing deposits in other banks 928 591 3,204 2,239
Total interest income 39,852 34,765 118,621 99,603
Interest expense        
Savings and NOW deposits 5,445 2,972 16,788 7,778
Money market accounts 5,050 3,652 15,805 9,039
Time deposits 3,038 2,571 8,724 7,465
Securities sold under agreements to repurchase 697 288 1,572 657
Other borrowed funds and subordinated debentures 1,852 2,078 5,274 5,793
Total interest expense 16,082 11,561 48,163 30,732
Net interest income 23,770 23,204 70,458 68,871
Provision for loan losses 75   700 900
Net interest income after provision for loan losses 23,695 23,204 69,758 67,971
Other operating income        
Service charges on deposit accounts 2,310 2,137 6,801 6,268
Lockbox fees 937 892 3,018 2,304
Net gains on sales of securities 53 105 61 302
Gains on sales of mortgage loans 0   154  
Other income 986 1,035 3,676 3,210
Total other operating income 4,286 4,169 13,710 12,084
Operating expenses        
Salaries and employee benefits 10,670 10,570 32,621 32,331
Occupancy 1,463 1,481 4,686 4,579
Equipment 862 781 2,440 2,355
Other 4,467 4,516 14,170 13,243
Total operating expenses 17,462 17,348 53,917 52,508
Income before income taxes 10,519 10,025 29,551 27,547
Provision for income taxes 435 444 584 1,259
Net income $ 10,084 $ 9,581 $ 28,967 $ 26,288
Class A Common Stock [Member]        
Share data:        
Weighted average number of shares outstanding, basic 3,650,449 3,608,329 3,627,076 3,608,129
Weighted average number of shares outstanding, diluted 5,567,909 5,567,909 5,567,909 5,567,909
Basic earnings per share $ 2.19 $ 2.09 $ 6.30 $ 5.73
Diluted earnings per share $ 1.81 $ 1.72 $ 5.20 $ 4.72
Class B Common Stock [Member]        
Share data:        
Weighted average number of shares outstanding, basic 1,917,460 1,959,580 1,940,833 1,959,780
Weighted average number of shares outstanding, diluted 1,917,460 1,959,580 1,940,833 1,959,780
Basic earnings per share $ 1.09 $ 1.04 $ 3.15 $ 2.86
Diluted earnings per share $ 1.09 $ 1.04 $ 3.15 $ 2.86