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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
INTEREST INCOME      
Interest and fees on loans $ 51,217 $ 50,018 $ 40,642
Interest on deposits with other banks 340 322 274
Interest on investment securities - taxable 2,658 1,366 958
Interest on tax exempt loans and securities 2,383 2,417 2,226
Total interest income 56,598 54,123 44,100
INTEREST EXPENSE      
Interest on deposits 8,294 7,748 6,246
Interest on repurchase agreements 75 72 83
Interest on FHLB and other borrowings 1,690 1,086 692
Interest on subordinated debt 2,242 2,226 2,204
Total interest expense 12,301 11,132 9,225
NET INTEREST INCOME 44,297 42,991 34,875
Provision for loan losses 2,173 3,632 2,493
Net interest income after provision for loan losses 42,124 39,359 32,382
NONINTEREST INCOME      
Service charges on deposit accounts 765 764 646
Income on bank owned life insurance 646 638 653
Visa debit card and interchange income 1,258 1,185 987
Mortgage fee income 37,149 35,673 29,472
Gain on sale of portfolio loans 538 1,042 1,413
Insurance and investment services income 563 420 338
Gain on sale of securities 731 1,082 130
Gain (loss) on derivatives (2,722) 1,467 675
Commercial swap fee income 503 84 382
Other operating income 1,275 850 259
Total noninterest income 40,706 43,205 34,955
NONINTEREST EXPENSES      
Salary and employee benefits 44,108 45,225 36,073
Occupancy expense 4,084 3,686 3,390
Equipment depreciation and maintenance 3,005 2,452 2,013
Data processing and communications 5,116 4,964 4,010
Mortgage processing 3,207 3,355 3,158
Marketing, contributions and sponsorships 1,179 1,253 1,352
Professional fees 3,143 2,720 3,232
Printing, postage and supplies 988 767 762
Insurance, tax and assessment expense 1,797 1,528 1,394
Travel, entertainment, dues and subscriptions 2,221 1,725 1,579
Other operating expenses 1,652 1,534 885
Total noninterest expense 70,500 69,209 57,848
Income from continuing operations, before income taxes 12,330 13,355 9,489
Income tax expense - continuing operations 4,755 4,378 2,886
Net Income from continuing operations 7,575 8,977 6,603
Income from discontinued operations, before income taxes 0 6,346 353
Income tax expense - discontinued operations 0 2,411 140
Net Income from discontinued operations 0 3,935 213
Net Income 7,575 12,912 6,816
Preferred dividends 498 1,128 575
Net Income available to common shareholders $ 7,077 $ 11,784 $ 6,241
Earnings per share from continuing operations - basic (in dollars per share) $ 0.69 $ 0.96 $ 0.75
Earnings per share from discontinued operations - basic (in dollars per share) 0.00 0.48 0.03
Earnings per common shareholder - basic (in dollars per share) 0.69 1.44 0.78
Earnings per share from continuing operations - diluted (in dollars per share) 0.68 0.92 0.74
Earnings per share from discontinued operations - diluted (in dollars per share) 0.00 0.39 0.03
Earnings per common shareholder - diluted (in dollars per share) 0.68 1.31 0.77
Cash dividends declared (in dollars per share) $ 0.1 $ 0.08 $ 0.08
Weighted average shares outstanding - basic (in shares) 10,308,738 8,212,021 8,014,316
Weighted average shares outstanding - diluted (in shares) 10,440,228 10,068,733 8,140,116