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Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income:        
Loans (including fee income) $ 41,005 $ 36,197 $ 118,495 $ 107,580
Mortgage-backed securities, CMOs and other asset-backed securities 3,775 4,370 13,007 11,919
U.S. GSE securities 56 158 414 680
State and municipal obligations 507 614 1,711 2,173
Corporate bonds 296 356 951 1,069
Deposits with banks 342 437 1,485 633
Other interest and dividend income 373 457 1,158 1,450
Total interest income 46,354 42,589 137,221 125,504
Interest expense:        
Savings, NOW and money market deposits 5,816 4,584 19,182 10,536
Certificates of deposit of $100,000 or more 1,139 927 3,201 2,026
Other time deposits 300 536 1,150 1,224
Federal funds purchased and repurchase agreements 70 13 273 1,185
FHLB advances 1,179 1,181 3,455 4,447
Subordinated debentures 1,135 1,134 3,405 3,404
Total interest expense 9,639 8,375 30,666 22,822
Net interest income 36,715 34,214 106,555 102,682
Provision for loan losses 1,000 200 5,100 1,400
Net interest income after provision for loan losses 35,715 34,014 101,455 101,282
Non-interest income:        
Service charges and other fees 2,588 2,549 7,572 7,274
Net securities gains (losses)     201 (7,921)
Title fees 508 384 1,149 1,339
Gain on sale of Small Business Administration ("SBA") loans 601 524 1,662 1,586
Bank owned life insurance 561 557 1,670 1,658
Loan swap fees 1,557 404 3,200 713
Other 429 500 1,507 1,804
Total non-interest income 6,244 4,918 16,961 6,453
Non-interest expense:        
Salaries and employee benefits 14,294 12,134 41,233 38,001
Occupancy and equipment 3,490 3,325 10,581 9,773
Technology and communications 2,129 1,596 5,787 4,807
Marketing and advertising 1,282 1,274 3,729 3,476
Professional services 1,055 1,023 2,615 3,116
FDIC assessments 18 386 652 1,286
Net fraud loss   9,500   9,500
Amortization of other intangible assets 182 215 605 703
Other 1,754 1,551 5,605 5,447
Total non-interest expense 24,204 31,004 70,807 76,109
Income before income taxes 17,755 7,928 47,609 31,626
Income tax expense 3,852 1,381 10,126 6,263
Net income $ 13,903 $ 6,547 $ 37,483 $ 25,363
Basic earnings per share (in dollars per share) $ 0.70 $ 0.33 $ 1.88 $ 1.28
Diluted earnings per share (in dollars per share) $ 0.70 $ 0.33 $ 1.88 $ 1.28