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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
INTEREST INCOME    
Interest and fees on loans $ 13,291 $ 11,882
Interest on deposits with other banks 90 79
Interest on investment securities - taxable 895 546
Interest on tax exempt loans and securities 778 561
Total interest income 15,054 13,068
INTEREST EXPENSE    
Interest on deposits 2,298 1,906
Interest on repurchase agreements 19 17
Interest on FHLB and other borrowings 714 288
Interest on subordinated debt 558 551
Total interest expense 3,589 2,762
NET INTEREST INCOME 11,465 10,306
Provision for loan losses 474 518
Net interest income after provision for loan losses 10,991 9,788
NONINTEREST INCOME    
Service charges on deposit accounts 185 187
Income on bank owned life insurance 218 147
Interchange and debit card transaction fees 150 295
Mortgage fee income 6,563 9,634
Gain on sale of portfolio loans 212 9
Insurance and investment services income 164 124
Gain on sale of securities 326 183
Gain (loss) on derivatives 584 (1,947)
Commercial swap fee income 413 0
Other operating income 224 192
Total noninterest income 9,039 8,824
NONINTEREST EXPENSES    
Salary and employee benefits 10,473 9,962
Occupancy expense 1,049 994
Equipment depreciation and maintenance 784 689
Data processing and communications 835 1,214
Mortgage processing 892 894
Marketing, contributions, and sponsorships 347 327
Professional fees 745 677
Printing, postage, and supplies 165 217
Insurance, tax, and assessment expense 390 461
Travel, entertainment, dues, and subscriptions 648 501
Other operating expenses 411 381
Total noninterest expense 16,739 16,317
Income before income taxes 3,291 2,295
Income tax expense 697 721
Net income 2,594 1,574
Preferred dividends 121 129
Net income available to common shareholders - basic $ 2,473 $ 1,445
Earnings per share from continuing operations - basic (in dollars per share) $ 0.24 $ 0.14
Earnings per share from continuing operations - diluted (in dollars per share) 0.23 0.14
Cash dividends declared (in dollars per share) $ 0.025 $ 0.025
Weighted average shares outstanding - basic (in shares) 10,474,138 9,996,544
Weighted average shares outstanding - diluted (in shares) 12,714,353 10,009,341