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Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest income:        
Loans (including fee income) $ 32,571 $ 29,951 $ 92,206 $ 87,128
Mortgage-backed securities, CMOs and other asset-backed securities 3,777 2,840 11,492 10,337
U.S. GSE securities 300 342 901 994
State and municipal obligations 963 962 2,968 2,799
Corporate bonds 295 282 878 838
Deposits with banks 91 43 208 115
Other interest and dividend income 441 341 1,236 890
Total interest income 38,438 34,761 109,889 103,101
Interest expense:        
Savings, NOW and money market deposits 2,161 1,321 5,524 3,888
Certificates of deposit of $100,000 or more 496 227 1,306 558
Other time deposits 195 190 552 507
Federal funds purchased and repurchase agreements 402 301 1,073 779
Federal Home Loan Bank advances 1,704 562 4,382 2,233
Subordinated debentures 1,135 1,134 3,405 3,404
Junior subordinated debentures   342 48 1,026
Total interest expense 6,093 4,077 16,290 12,395
Net interest income 32,345 30,684 93,599 90,706
Provision for loan losses 1,900 2,000 3,650 4,150
Net interest income after provision for loan losses 30,445 28,684 89,949 86,556
Non-interest income:        
Service charges and other fees 2,392 2,354 6,662 6,437
Net securities gains 260   260 449
Title fee income 757 438 1,848 1,352
Gain on sale of Small Business Administration loans 100 213 1,442 670
BOLI income 563 556 1,690 1,358
Other operating income 900 473 1,701 2,032
Total non-interest income 4,972 4,034 13,603 12,298
Non-interest expense:        
Salaries and employee benefits 11,766 10,330 34,467 31,483
Occupancy and equipment 3,514 3,256 10,351 9,439
Technology and communications 1,469 1,235 4,194 3,638
Marketing and advertising 1,254 1,039 3,742 3,005
Professional services 678 768 2,101 2,815
FDIC assessments 341 446 984 1,491
Acquisition costs       (270)
Amortization of other intangible assets 247 462 800 1,810
Other operating expenses 2,002 1,668 5,934 5,141
Total non-interest expense 21,271 19,204 62,573 58,552
Income before income taxes 14,146 13,514 40,979 40,302
Income tax expense 4,703 4,663 13,524 13,971
Net income $ 9,443 $ 8,851 $ 27,455 $ 26,331
Basic earnings per share (in dollars per share) $ 0.48 $ 0.50 $ 1.39 $ 1.50
Diluted earnings per share (in dollars per share) $ 0.48 $ 0.50 $ 1.39 $ 1.50