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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
INTEREST INCOME      
Interest and fees on loans $ 50,018 $ 40,642 $ 31,949
Interest on deposits with other banks 322 274 223
Interest on investment securities - taxable 1,366 958 1,272
Interest on tax exempt loans and securities 2,417 2,226 2,724
Total interest income 54,123 44,100 36,168
INTEREST EXPENSE      
Interest on deposits 7,748 6,246 5,563
Interest on repurchase agreements 72 83 291
Interest on FHLB and other borrowings 1,086 692 515
Interest on subordinated debt 2,226 2,204 1,142
Total interest expense 11,132 9,225 7,511
NET INTEREST INCOME 42,991 34,875 28,657
Provision for loan losses 3,632 2,493 2,582
Net interest income after provision for loan losses 39,359 32,382 26,075
NONINTEREST INCOME      
Service charges on deposit accounts 764 646 677
Income on bank owned life insurance 638 653 588
Visa debit card and interchange income 1,185 987 778
Mortgage fee income 35,673 29,472 17,557
Gain on sale of portfolio loans 1,042 1,413 1,550
Insurance and investment services income 420 338 328
Gain on sale of securities 1,082 130 413
Gain (loss) on derivatives 1,467 675 (2)
Other operating income 934 641 133
Total noninterest income 43,205 34,955 22,022
NONINTEREST EXPENSES      
Salary and employee benefits 45,225 36,073 27,774
Occupancy expense 3,686 3,390 2,704
Equipment depreciation and maintenance 2,452 2,013 1,479
Data processing and communications 4,964 4,010 2,768
Mortgage processing 3,355 3,158 2,514
Marketing, contributions and sponsorships 1,253 1,352 1,137
Professional fees 2,720 3,232 2,237
Printing, postage and supplies 767 762 709
Insurance, tax and assessment expense 1,528 1,394 1,478
Travel, entertainment, dues and subscriptions 1,725 1,579 1,299
Other operating expenses 1,534 885 1,095
Total noninterest expense 69,209 57,848 45,194
Income from continuing operations, before income taxes 13,355 9,489 2,903
Income tax expense - continuing operations 4,378 2,886 248
Net Income from continuing operations 8,977 6,603 2,655
Income (loss) from discontinued operations, before income taxes 6,346 353 (920)
Income tax expense (benefit) - discontinued operations 2,411 140 (344)
Net Income (loss) from discontinued operations 3,935 213 (576)
Net Income 12,912 6,816 2,079
Preferred dividends 1,128 575 332
Net Income available to common shareholders $ 11,784 $ 6,241 $ 1,747
Earnings per share from continuing operations - basic (in dollars per share) $ 0.96 $ 0.75 $ 0.29
Earnings per share from discontinued operations - basic (in dollars per share) 0.48 0.03 (0.07)
Earnings per common shareholder - basic (in dollars per share) 1.44 0.78 0.22
Earnings per share from continuing operations - diluted (in dollars per share) 0.92 0.74 0.29
Earnings per share from discontinued operations - diluted (in dollars per share) 0.39 0.03 (0.07)
Earnings per common shareholder - diluted (in dollars per share) 1.31 0.77 0.22
Cash dividends declared (in dollars per share) $ 0.08 $ 0.08 $ 0.08
Weighted average shares outstanding - basic (in shares) 8,212,021 8,014,316 7,905,468
Weighted average shares outstanding - diluted (in shares) 10,068,733 8,140,116 8,102,117