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CONSOLIDATED INCOME STATEMENTS (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest income:        
Loans, including fees $ 9,340 $ 8,228 $ 26,570 $ 22,817
Investment securities and other 355 288 894 817
Total interest income 9,695 8,516 27,464 23,634
Interest expense:        
Deposits 1,185 733 2,984 2,088
Other borrowings 134 74 294 219
Total interest expense 1,319 807 3,278 2,307
Net interest income 8,376 7,709 24,186 21,327
Provision (credit) for loan losses 159 22 423 (164)
Net interest income after provision for loan losses 8,217 7,687 23,763 21,491
Non-interest income:        
Other loan fees 354 270 999 827
Document processing fees 146 130 430 381
Service charges 118 100 326 292
Other 98 59 299 215
Total non-interest income 716 559 2,054 1,715
Non-interest expenses:        
Salaries and employee benefits 3,839 3,809 11,566 10,755
Occupancy, net 754 564 2,085 1,631
Stock based compensation 283 97 454 261
Professional services 281 196 759 653
Data processing 192 173 525 513
FDIC assessment 172 74 461 270
Depreciation 168 162 519 486
Advertising and marketing 137 154 488 447
Loan servicing and collection 35 108 196 198
Other 526 499 1,264 1,464
Total non-interest expenses 6,387 5,836 18,317 16,678
Income before provision for income taxes 2,546 2,410 7,500 6,528
Provision for income taxes 992 929 3,034 2,639
Net income $ 1,554 $ 1,481 $ 4,466 $ 3,889
Earnings per share:        
Basic (in dollars per share) $ 0.19 $ 0.18 $ 0.55 $ 0.48
Diluted (in dollars per share) $ 0.18 $ 0.18 $ 0.52 $ 0.46
Weighted average number of common shares outstanding:        
Basic (in shares) 8,165 8,096 8,134 8,128
Diluted (in shares) 8,598 8,421 8,569 8,442
Dividends declared per common share (in dollars per share) $ 0.040 $ 0.035 $ 0.115 $ 0.100