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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest and dividend income:        
Loans/leases, including fees $ 28,114,729 $ 20,238,179 $ 55,326,146 $ 39,938,549
Securities:        
Taxable 1,260,575 1,192,541 2,402,810 2,548,744
Nontaxable 2,688,243 2,276,203 5,335,965 4,518,218
Interest-bearing deposits at financial institutions 219,714 62,242 418,366 122,559
Restricted investment securities 131,890 133,546 262,320 264,110
Federal funds sold 38,117 10,573 52,760 23,163
Total interest and dividend income 32,453,268 23,913,284 63,798,367 47,415,343
Interest expense:        
Deposits 2,990,603 1,344,398 5,223,359 2,634,196
Short-term borrowings 19,157 18,065 43,117 61,131
FHLB advances 354,213 415,933 757,682 857,637
Other borrowings 695,669 824,437 1,378,877 1,649,520
Junior subordinated debentures 346,929 301,638 679,752 606,524
Total interest expense 4,406,571 2,904,471 8,082,787 5,809,008
Net interest income 28,046,697 21,008,813 55,715,580 41,606,335
Provision for loan/lease losses (2,022,993) (1,197,850) (4,128,102) (3,270,835)
Net interest income after provision for loan/lease losses 26,023,704 19,810,963 51,587,478 38,335,500
Noninterest income:        
Trust department fees 1,692,001 1,512,083 3,432,208 3,087,990
Investment advisory and management fees 868,835 692,738 1,830,434 1,351,123
Deposit service fees 1,458,359 946,810 2,774,749 1,877,889
Gains on sales of residential real estate loans 112,628 84,413 208,951 144,799
Gains on sales of government guaranteed portions of loans 87,053 1,603,890 1,037,694 2,482,418
Swap fee income 327,577 167,582 441,097 1,024,540
Securities gains, net 38,464 18,030 38,464 376,510
Earnings on bank-owned life insurance 459,359 480,520 929,046 874,129
Debit card fees 743,521 343,748 1,446,322 651,399
Correspondent banking fees 200,057 244,939 445,246 547,069
Other 794,664 667,648 1,482,061 1,167,008
Total noninterest income 6,782,518 6,762,401 14,066,272 13,584,874
Noninterest expense:        
Salaries and employee benefits 12,930,944 10,917,473 26,238,275 21,718,380
Occupancy and equipment expense 2,698,336 1,884,556 5,200,555 3,711,544
Professional and data processing fees 2,340,699 1,542,322 4,424,091 2,989,735
Acquisition costs 354,969 354,969
FDIC insurance, other insurance and regulatory fees 645,277 649,604 1,266,519 1,283,969
Loan/lease expense 260,284 154,349 553,822 317,168
Net cost of operations of other real estate 27,957 277,911 42,187 380,094
Advertising and marketing 567,588 433,451 1,177,019 819,710
Bank service charges 447,445 415,350 871,346 831,281
Losses on debt extinguishment, net     83,197
Correspondent banking expense 201,693 181,776 400,044 358,765
Other 1,284,406 931,992 2,503,888 1,849,439
Total noninterest expense 21,404,629 17,743,753 42,677,746 34,698,251
Net income before income taxes 11,401,593 8,829,611 22,976,004 17,222,123
Federal and state income tax expense 2,635,576 2,153,144 5,025,022 4,172,167
Net income $ 8,766,017 $ 6,676,467 $ 17,950,982 $ 13,049,956
Basic earnings (loss) per common share (in dollars per share) (in dollars per share) $ 0.67 $ 0.54 $ 1.36 $ 1.08
Diluted earnings (loss) per common share (in dollars per share) (in dollars per share) $ 0.65 $ 0.53 $ 1.33 $ 1.07
Weighted average common shares outstanding (in shares) 13,170,283 12,335,077 13,151,833 12,064,349
Weighted average common and common equivalent shares outstanding (in shares) 13,516,592 12,516,474 13,502,505 12,235,212
Common cash dividends declared, dividends per share (in dollars per share) $ 0.05 $ 0.04 $ 0.10 $ 0.08
Cash dividends declared per common share (in dollars per share) $ 0.05 $ 0.04 $ 0.10 $ 0.08