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Consolidated Statements of Earnings - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Interest income:    
Interest and fees on loans $ 25,774 $ 21,833
Interest and dividends on securities:    
Taxable securities 1,607 1,666
Exempt from Federal income taxes 167 303
Interest on loans held for sale 78 39
Interest on Federal funds sold 8 154
Interest on balances held at depository institutions 600 67
Interest and dividends on restricted securities 50 32
Total interest income 28,284 24,094
Interest expense:    
Interest on negotiable order of withdrawal accounts 572 344
Interest on money market and savings accounts 1,740 707
Interest on time deposits 2,886 1,592
Interest on federal home loan bank advances 13 0
Interest on securities sold under repurchase agreements 0 16
Total interest expense 5,211 2,659
Net interest income before provision for loan losses 23,073 21,435
Provision for loan losses 1,033 1,023
Net interest income after provision for loan losses 22,040 20,412
Non-interest income:    
Service charges on deposit accounts 1,663 1,542
Other fees and commissions 3,107 3,003
Income on BOLI and annuity contracts 199 214
Gain on sale of loans 1,646 1,031
Gain (loss) on the sale of fixed assets (1) 0
Gain (loss) on sale of other real estate (45) 0
Loss on sale of securities (309) 0
Total non-interest income 6,260 5,790
Non-interest expense:    
Salaries and employee benefits 10,410 9,823
Occupancy expenses, net 1,114 963
Advertising & public relations expense 477 482
Furniture and equipment expense 772 585
Data processing expense 834 710
ATM & interchange expense 784 684
Directors’ fees 134 149
Audit, legal & consulting expenses 495 521
Other operating expenses 2,398 2,132
Total non-interest expense 17,418 16,049
Earnings before income taxes 10,882 10,153
Income taxes 2,592 2,673
Net earnings $ 8,290 $ 7,480
Weighted average number of common shares outstanding-basic (in shares) 10,701,602 10,507,273
Weighted average number of common shares outstanding-diluted (in shares) 10,716,872 10,513,076
Basic earnings per common share (in dollars per share) $ 0.77 $ 0.71
Diluted earnings per common share (in dollars per share) 0.77 0.71
Dividends per share (in dollars per share) $ 0.55 $ 0.35