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Consolidated Statements of Income - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Interest and Dividend Income      
Loans receivable $ 73,623,000 $ 68,474,000 $ 51,231,000
Investment securities 10,723,000 10,363,000 7,037,000
Federal Home Loan Bank stock 692,000 606,000 470,000
Deposits with financial institutions 291,000 251,000 130,000
Total interest and dividend income 85,329,000 79,694,000 58,868,000
Interest Expense      
Deposits 15,119,000 10,856,000 6,815,000
Federal Home Loan Bank advances 4,950,000 4,869,000 3,604,000
Other 963,000 866,000 192,000
Total interest expense 21,032,000 16,591,000 10,611,000
Net Interest Income 64,297,000 63,103,000 48,257,000
Provision for loan losses 1,950,000 2,120,000 1,220,000
Net Interest Income After Provision for Loan Losses 62,347,000 60,983,000 47,037,000
Non-interest Income      
Net realized gain on sales of available for sale securities 1,014,000 804,000 708,000
Net gains on sales of loans 5,871,000 3,126,000 3,887,000
Net servicing fees 595,000 591,000 391,000
Increase in cash value of life insurance 1,239,000 1,239,000 1,113,000
Loss on sale of other real estate and repossessed assets (19,000) (43,000) (122,000)
Other income 2,485,000 1,055,000 488,000
Total non-interest income 24,921,000 19,574,000 18,076,000
Non-interest Expenses      
Salaries and employee benefits 36,313,000 32,964,000 27,229,000
Net occupancy expenses 4,055,000 3,965,000 3,133,000
Equipment expenses 2,441,000 2,514,000 1,773,000
Data processing fees 2,613,000 2,624,000 2,321,000
ATM and debit card expenses 2,334,000 2,290,000 1,676,000
Deposit insurance 413,000 898,000 724,000
Professional fees 2,706,000 2,177,000 1,855,000
Advertising and promotion 1,323,000 1,606,000 1,223,000
Software subscriptions and maintenance 3,014,000 2,719,000 2,202,000
Intangible amortization 779,000 1,103,000 264,000
Other real estate and repossessed assets 256,000 189,000 165,000
Other expenses 4,911,000 5,684,000 3,440,000
Total non-interest expenses 61,158,000 58,733,000 46,005,000
Income Before Income Tax 26,110,000 21,824,000 19,108,000
Income tax expense 2,359,000 2,960,000 6,793,000
Net Income $ 23,751,000 $ 18,864,000 $ 12,315,000
Earnings Per Common Share      
Basic $ 2.77 $ 2.25 $ 1.67
Diluted 2.74 2.21 1.64
Dividends Per Common Share $ 0.80 $ 0.74 $ 0.66
Service Fees [Member]      
Non-interest Income      
Non-interest income $ 8,949,000 $ 7,937,000 $ 6,584,000
Commissions [Member]      
Non-interest Income      
Non-interest income $ 4,787,000 $ 4,865,000 $ 5,027,000