XML 14 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Interest income:    
Loans (including fee income) $ 35,613 $ 29,383
Mortgage-backed securities, CMOs and other asset-backed securities 3,724 3,817
U.S. GSE securities 279 300
State and municipal obligations 812 995
Corporate bonds 355 290
Deposits with banks 90 46
Other interest and dividend income 491 386
Total interest income 41,364 35,217
Interest expense:    
Savings, NOW and money market deposits 2,514 1,551
Certificates of deposit of $100,000 or more 517 379
Other time deposits 195 178
Federal funds purchased and repurchase agreements 1,115 316
Federal Home Loan Bank advances 1,349 1,149
Subordinated debentures 1,135 1,135
Junior subordinated debentures   48
Total interest expense 6,825 4,756
Net interest income 34,539 30,461
Provision for loan losses 800 800
Net interest income after provision for loan losses 33,739 29,661
Non-interest income:    
Service charges and other fees 2,163 2,050
Title fee income 505 550
Gain on sale of Small Business Administration loans 371 543
BOLI income 546 560
Other operating income 528 419
Total non-interest income 4,113 4,122
Non-interest expense:    
Salaries and employee benefits 12,812 11,500
Occupancy and equipment 3,243 3,398
Technology and communications 1,643 1,335
Marketing and advertising 962 911
Professional services 1,212 781
FDIC assessments 464 311
Amortization of other intangible assets 246 279
Other operating expenses 2,016 1,781
Total non-interest expense 22,598 20,296
Income before income taxes 15,254 13,487
Income tax expense 3,181 4,316
Net income $ 12,073 $ 9,171
Basic earnings per share (in dollars per share) $ 0.61 $ 0.47
Diluted earnings per share (in dollars per share) $ 0.61 $ 0.47