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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 fees $ 16,438 $ 13,731 $ 48,954 $ 41,449
Securities available for sale        
Taxable 2,266 1,745 6,917 4,787
Tax-exempt 85 52 265 166
Federal funds sold and other 519 473 1,342 1,151
Total interest income 19,308 16,001 57,478 47,553
Interest expense        
Deposits 2,367 1,355 6,702 3,583
Repurchase agreements and other 24 10 45 25
Other borrowings 0 37 31 125
FHLB advances 48 0 151 0
Subordinated debt 91 90 281 257
Total interest expense 2,530 1,492 7,210 3,990
Net interest income 16,778 14,509 50,268 43,563
Provision for loan losses 425 275 1,315 1,890
Net interest income after provision for loan losses 16,353 14,234 48,953 41,673
Non-interest income        
Service charges on deposit accounts 1,216 1,183 3,432 3,343
Electronic banking income 891 968 2,640 2,677
Secondary market mortgage income 97 29 154 142
Other 267 257 768 572
Total non-interest income 2,471 2,437 6,994 6,734
Non-interest expenses        
Salaries and employee benefits 5,422 4,846 16,048 14,667
Occupancy and equipment expenses 1,700 1,570 5,241 4,660
Outside data processing 1,478 1,315 4,288 3,841
Professional fees 286 526 957 1,261
Taxes, other than payroll, property and income 235 217 734 669
Write-downs, expenses, sales of other real estate owned, net 213 26 690 (335)
Amortization of intangibles 223 190 673 575
FDIC insurance (5) 171 238 443
Other expenses 1,198 1,306 3,515 3,833
Total non-interest expenses 10,750 10,167 32,384 29,614
Income before income taxes 8,074 6,504 23,563 18,793
Provision for income taxes 1,807 1,483 5,261 4,264
Net income $ 6,267 $ 5,021 $ 18,302 $ 14,529
Net income per share:        
Basic (in dollars per share) $ 0.43 $ 0.38 $ 1.25 $ 1.09
Diluted (in dollars per share) $ 0.43 $ 0.37 $ 1.24 $ 1.08