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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
INTEREST INCOME      
Interest and fees on loans $ 62,468 $ 51,217 $ 50,018
Interest on deposits with other banks 403 340 322
Interest on investment securities - taxable 3,580 2,658 1,366
Interest on tax exempt loans and securities 3,309 2,383 2,417
Total interest income 69,760 56,598 54,123
INTEREST EXPENSE      
Interest on deposits 11,635 8,294 7,748
Interest on repurchase agreements 56 75 72
Interest on FHLB and other borrowings 4,259 1,690 1,086
Interest on subordinated debt 1,756 2,242 2,226
Total interest expense 17,706 12,301 11,132
NET INTEREST INCOME 52,054 44,297 42,991
Provision for loan losses 2,440 2,173 3,632
Net interest income after provision for loan losses 49,614 42,124 39,359
NONINTEREST INCOME      
Service charges on deposit accounts 1,033 765 764
Income on bank owned life insurance 1,182 646 638
Visa debit card and interchange income 647 1,258 1,185
Mortgage fee income 32,337 37,149 35,673
Gain on sale of portfolio loans 198 538 1,042
Insurance and investment services income 716 563 420
Gain on sale of securities 327 731 1,082
Gain (loss) on derivatives (278) (2,722) 1,467
Commercial swap fee income 552 503 84
Holding gain on equity securities 590 0 0
Other operating income 1,336 1,275 850
Total noninterest income 38,640 40,706 43,205
NONINTEREST EXPENSES      
Salary and employee benefits 46,224 44,108 45,225
Occupancy expense 4,234 4,084 3,686
Equipment depreciation and maintenance 3,239 3,005 2,452
Data processing and communications 3,741 5,116 4,964
Mortgage processing 3,551 3,207 3,355
Marketing, contributions and sponsorships 1,141 1,179 1,253
Professional fees 3,559 3,143 2,720
Printing, postage and supplies 762 988 767
Insurance, tax and assessment expense 1,846 1,797 1,528
Travel, entertainment, dues and subscriptions 2,808 2,221 1,725
Other operating expenses 1,773 1,652 1,534
Total noninterest expense 72,878 70,500 69,209
Income from continuing operations, before income taxes 15,376 12,330 13,355
Income tax expense - continuing operations 3,373 4,755 4,378
Net Income from continuing operations 12,003 7,575 8,977
Income from discontinued operations, before income taxes 0 0 6,346
Income tax expense - discontinued operations 0 0 2,411
Net Income from discontinued operations 0 0 3,935
Net Income 12,003 7,575 12,912
Preferred dividends 489 498 1,128
Net Income available to common shareholders $ 11,514 $ 7,077 $ 11,784
Earnings per share from continuing operations - basic (in dollars per share) $ 1.04 $ 0.69 $ 0.96
Earnings per share from discontinued operations - basic (in dollars per share) 0.00 0.00 0.48
Earnings per common shareholder - basic (in dollars per share) 1.04 0.69 1.44
Earnings per share from continuing operations - diluted (in dollars per share) 1.00 0.68 0.92
Earnings per share from discontinued operations - diluted (in dollars per share) 0.00 0.00 0.39
Earnings per common shareholder - diluted (in dollars per share) 1.00 0.68 1.31
Cash dividends declared (in dollars per share) $ 0.11 $ 0.1 $ 0.08
Weighted average shares outstanding - basic (in shares) 11,030,984 10,308,738 8,212,021
Weighted average shares outstanding - diluted (in shares) 12,722,003 10,440,228 10,068,733