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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
INTEREST INCOME      
Loans $ 54,605 $ 53,796 $ 37,849
Federal funds sold and interest-earning deposits in other banks 1,838 1,618 480
Investments 2,003 1,421 1,288
TOTAL INTEREST INCOME 58,446 56,835 39,617
INTEREST EXPENSE      
Money market, NOW and savings deposits 1,616 1,339 547
Time deposits 8,061 6,293 3,779
Short-term debt 62 328 357
Long-term debt 1,817 1,490 423
TOTAL INTEREST EXPENSE 11,556 9,450 5,106
NET INTEREST INCOME 46,890 47,385 34,511
PROVISION FOR (RECOVERY OF) LOAN LOSSES 438 (156) 1,367
NET INTEREST INCOME AFTER PROVISION FOR (RECOVERY OF) LOAN LOSSES 46,452 47,541 33,144
NON-INTEREST INCOME      
Gain on the sale of securities 48 0 1
Service charges on deposit accounts 1,161 1,124 899
Fees on the sale of mortgages 753 497 0
Other fees and income 3,457 3,080 2,172
TOTAL NON-INTEREST INCOME 5,419 4,701 3,072
NON-INTEREST EXPENSE      
Personnel 20,278 18,304 14,552
Occupancy and equipment 3,695 3,666 2,192
Deposit insurance 184 628 357
Professional fees 1,886 1,394 1,181
Core deposit intangible amortization 825 1,016 409
Merger/acquisition related expenses 406 1,826 2,166
Information systems 3,492 3,372 2,257
Foreclosure-related expenses 140 115 562
Other 4,234 4,229 3,643
TOTAL NON-INTEREST EXPENSE 35,140 34,550 27,319
INCOME BEFORE INCOME TAX 16,731 17,692 8,897
INCOME TAXES 3,696 3,910 5,712
NET INCOME $ 13,035 $ 13,782 $ 3,185
NET INCOME PER COMMON SHARE      
Basic $ 0.69 $ 0.87 $ 0.27
Diluted $ 0.68 $ 0.87 $ 0.27
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING      
Basic 19,016,808 15,812,585 11,763,050
Diluted 19,063,237 15,877,633 11,826,977