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Consolidated Statements of Income - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest Income        
Interest and fees on loans and loans held for sale $ 15,353,000 $ 14,036,000 $ 30,330,000 $ 27,299,000
Interest on investment securities available for sale 1,690,000 1,302,000 3,322,000 2,556,000
Dividends on marketable equity securities 109,000 84,000 216,000 166,000
Dividends on Federal Home Loan Bank stock 19,000 14,000 38,000 26,000
Interest on deposits in other banks 135,000 159,000 278,000 343,000
Total Interest Income 17,306,000 15,595,000 34,184,000 30,390,000
Interest Expense        
Interest expense on deposits 1,174,000 446,000 2,112,000 818,000
Interest expense on securities sold under agreements to repurchase 18,000 8,000 40,000 17,000
Interest expense on borrowings 62,000 57,000 119,000 115,000
Interest expense on junior subordinated debentures 95,000 95,000 187,000 188,000
Total Interest Expense 1,349,000 606,000 2,458,000 1,138,000
Net Interest Income 15,957,000 14,989,000 31,726,000 29,252,000
Provision (benefit) for loan losses 300,000 (300,000) 1,050,000 (300,000)
Net Interest Income After Provision (Benefit) for Loan Losses 15,657,000 15,289,000 30,676,000 29,552,000
Other Operating Income        
Revenue from contracts with customers 1,608,000 1,519,000 3,036,000 2,861,000
Purchased receivable income 837,000 867,000 1,646,000 1,707,000
Interest rate swap income 734,000 0 734,000 0
Gain (loss) on marketable equity securities 118,000 (173,000) 652,000 (173,000)
Gain on sale of securities, net 0 0 23,000 0
Other income 773,000 1,059,000 1,579,000 1,758,000
Total Other Operating Income 9,569,000 8,314,000 17,102,000 15,776,000
Other Operating Expense        
Salaries and other personnel expense 12,945,000 11,362,000 24,247,000 21,947,000
Data processing expense 1,796,000 1,323,000 3,475,000 2,871,000
Occupancy expense 1,642,000 1,020,000 3,413,000 2,720,000
Marketing expense 833,000 462,000 1,252,000 1,094,000
Professional and outside services 684,000 554,000 1,240,000 1,053,000
Insurance expense 232,000 178,000 490,000 474,000
OREO (income) expense, net rental income and gains on sale 165,000 11,000 (155,000) 114,000
Intangible asset amortization expense 15,000 17,000 30,000 35,000
Other operating expense 1,507,000 1,679,000 2,907,000 3,093,000
Total Other Operating Expense 19,819,000 16,606,000 36,899,000 33,401,000
Income Before Provision for Income Taxes 5,407,000 6,997,000 10,879,000 11,927,000
Provision for income taxes 1,146,000 1,167,000 2,306,000 2,035,000
Net Income $ 4,261,000 $ 5,830,000 $ 8,573,000 $ 9,892,000
Earnings Per Share, Basic (in USD per share) $ 0.62 $ 0.85 $ 1.25 $ 1.44
Earnings Per Share, Diluted (in USD per share) $ 0.62 $ 0.84 $ 1.24 $ 1.42
Weighted Average Shares Outstanding, Basic (in shares) 6,798,352 6,872,371 6,838,986 6,872,167
Weighted Average Shares Outstanding, Diluted (in shares) 6,896,687 6,976,985 6,939,338 6,972,744
Mortgage banking income        
Other Operating Income        
Revenue from contracts with customers $ 5,950,000 $ 5,478,000 $ 10,248,000 $ 10,422,000
Bankcard fees        
Other Operating Income        
Revenue from contracts with customers 744,000 707,000 1,394,000 1,332,000
Service charges on deposit accounts        
Other Operating Income        
Revenue from contracts with customers $ 413,000 $ 376,000 $ 826,000 $ 730,000