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Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest income:        
Loans (including fee income) $ 36,197 $ 32,571 $ 107,580 $ 92,206
Mortgage-backed securities, CMOs and other asset-backed securities 4,370 3,777 11,919 11,492
U.S. GSE securities 158 300 680 901
State and municipal obligations 614 963 2,173 2,968
Corporate bonds 356 295 1,069 878
Deposits with banks 437 91 633 208
Other interest and dividend income 457 441 1,450 1,236
Total interest income 42,589 38,438 125,504 109,889
Interest expense:        
Savings, NOW and money market deposits 4,584 2,161 10,536 5,524
Certificates of deposit of $100,000 or more 927 496 2,026 1,306
Other time deposits 536 195 1,224 552
Federal funds purchased and repurchase agreements 13 402 1,185 1,073
Federal Home Loan Bank advances 1,181 1,704 4,447 4,382
Subordinated debentures 1,134 1,135 3,404 3,405
Junior subordinated debentures       48
Total interest expense 8,375 6,093 22,822 16,290
Net interest income 34,214 32,345 102,682 93,599
Provision for loan losses 200 1,900 1,400 3,650
Net interest income after provision for loan losses 34,014 30,445 101,282 89,949
Non-interest income:        
Service charges and other fees 2,549 2,392 7,274 6,662
Net securities gains (losses)   260 (7,921) 260
Title fee income 384 757 1,339 1,848
Gain on sale of loans     411 (33)
Gain on sale of Small Business Administration loans 524 100 1,586 1,442
BOLI income 557 563 1,658 1,690
Other operating income 904 900 2,517 1,701
Total non-interest income 4,918 4,972 6,453 13,603
Non-interest expense:        
Salaries and employee benefits 12,134 11,962 38,001 35,054
Occupancy and equipment 3,325 3,514 9,773 10,351
Technology and communications 1,596 1,469 4,807 4,194
Marketing and advertising 1,274 1,254 3,476 3,742
Professional services 1,023 678 3,116 2,101
FDIC assessments 386 341 1,286 984
Fraud loss 9,500   9,500  
Amortization of other intangible assets 215 247 703 800
Other operating expenses 1,551 1,806 5,447 5,347
Total non-interest expense 31,004 21,271 76,109 62,573
Income before income taxes 7,928 14,146 31,626 40,979
Income tax expense 1,381 4,703 6,263 13,524
Net income $ 6,547 $ 9,443 $ 25,363 $ 27,455
Basic earnings per share (in dollars per share) $ 0.33 $ 0.48 $ 1.28 $ 1.39
Diluted earnings per share (in dollars per share) $ 0.33 $ 0.48 $ 1.28 $ 1.39