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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Interest income:        
Loans (including fee income) $ 14,068 $ 11,182 $ 27,382 $ 21,850
Mortgage-backed securities, CMOs and other asset-backed securities 2,949 1,469 5,240 2,912
U.S. GSE securities 698 659 1,505 1,450
State and municipal obligations 691 646 1,392 1,326
Corporate Bonds 211 100 365 201
Deposits with banks 7 8 15 13
Other interest and dividend income 106 44 189 87
Total interest income 18,730 14,108 36,088 27,839
Interest expense:        
Savings, NOW and money market deposits 801 859 1,638 1,743
Certificates of deposit of $100,000 or more 209 341 384 670
Other time deposits 121 86 216 171
Federal funds purchased and repurchase agreements 140 131 269 255
Federal Home Loan Bank advances 302 43 547 83
Junior subordinated debentures 342 342 683 683
Total interest expense 1,915 1,802 3,737 3,605
Net interest income 16,815 12,306 32,351 24,234
Provision for loan losses 500 600 1,200 1,150
Net interest income after provision for loan losses 16,315 11,706 31,151 23,084
Non interest income:        
Service charges on deposit accounts 878 846 1,677 1,647
Fees for other customer services 861 908 1,546 1,561
Net securities (losses) gains (16) 310 (1,128) 648
Title fee income 461 398 783 684
Other operating income 108 6 216 32
Total non interest income 2,292 2,468 3,094 4,572
Non interest expense:        
Salaries and employee benefits 6,412 5,326 12,618 10,720
Occupancy and equipment 1,933 1,418 3,548 2,609
Technology and communications 766 617 1,483 1,159
Marketing and advertising 649 533 1,070 881
Professional services 400 312 756 621
FDIC assessments 346 220 634 436
Acquisition costs and branch restructuring 300   4,734  
Amortization of core deposit intangible 96 15 154 31
Other operating expenses 1,222 914 2,140 1,806
Total non interest expense 12,124 9,355 27,137 18,263
Income before income taxes 6,483 4,819 7,108 9,393
Income tax expense 2,165 1,567 2,384 3,028
Net income $ 4,318 $ 3,252 $ 4,724 $ 6,365
Basic earnings per share (in dollars per share) $ 0.37 $ 0.36 $ 0.41 $ 0.70
Diluted earnings per share (in dollars per share) $ 0.37 $ 0.36 $ 0.41 $ 0.70