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Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income:        
Loans (including fee income) $ 39,878 $ 35,770 $ 77,490 $ 71,383
Mortgage-backed securities, CMOs and other asset-backed securities 4,443 3,825 9,232 7,549
U.S. GSE securities 166 243 358 522
State and municipal obligations 577 747 1,204 1,559
Corporate bonds 319 358 655 713
Deposits with banks 599 106 1,143 196
Other interest and dividend income 370 502 785 993
Total interest income 46,352 41,551 90,867 82,915
Interest expense:        
Savings, NOW and money market deposits 6,997 3,438 13,366 5,952
Certificates of deposit of $100,000 or more 1,079 582 2,062 1,099
Other time deposits 288 493 850 688
Federal funds purchased and repurchase agreements 158 566 203 1,172
FHLB advances 1,178 1,408 2,276 3,266
Subordinated debentures 1,135 1,135 2,270 2,270
Total interest expense 10,835 7,622 21,027 14,447
Net interest income 35,517 33,929 69,840 68,468
Provision for loan losses 3,500 400 4,100 1,200
Net interest income after provision for loan losses 32,017 33,529 65,740 67,268
Non-interest income (loss):        
Service charges and other fees 2,556 2,562 4,984 4,725
Net securities gains (losses) 201 (7,921) 201 (7,921)
Title fee income 335 450 641 955
Gain on sale of Small Business Administration ("SBA") loans 844 691 1,061 1,062
BOLI income 556 555 1,109 1,101
Other operating income 1,007 1,085 2,721 1,613
Total non-interest income (loss) 5,499 (2,578) 10,717 1,535
Non-interest expense:        
Salaries and employee benefits 13,659 13,055 26,939 25,867
Occupancy and equipment 3,560 3,205 7,091 6,448
Technology and communications 1,869 1,568 3,658 3,211
Marketing and advertising 1,424 1,240 2,447 2,202
Professional services 803 881 1,560 2,093
FDIC assessments 396 436 634 900
Amortization of other intangible assets 210 242 423 488
Other operating expenses 2,083 1,880 3,851 3,896
Total non-interest expense 24,004 22,507 46,603 45,105
Income before income taxes 13,512 8,444 29,854 23,698
Income tax expense 2,859 1,701 6,274 4,882
Net income $ 10,653 $ 6,743 $ 23,580 $ 18,816
Basic earnings per share (in dollars per share) $ 0.53 $ 0.34 $ 1.18 $ 0.95
Diluted earnings per share (in dollars per share) $ 0.53 $ 0.34 $ 1.18 $ 0.95