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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
INTEREST INCOME    
Interest and fees on loans $ 17,662 $ 13,291
Interest on deposits with other banks 122 90
Interest on investment securities - taxable 879 895
Interest on tax exempt loans and securities 960 778
Total interest income 19,623 15,054
INTEREST EXPENSE    
Interest on deposits 4,123 2,298
Interest on repurchase agreements 14 19
Interest on FHLB and other borrowings 1,229 714
Interest on subordinated debt 285 558
Total interest expense 5,651 3,589
NET INTEREST INCOME 13,972 11,465
Provision for loan losses 300 474
Net interest income after provision for loan losses 13,672 10,991
NONINTEREST INCOME    
Service charges on deposit accounts 315 185
Income on bank owned life insurance 525 218
Interchange and debit card transaction fees 141 150
Mortgage fee income 6,670 6,563
Gain on sale of portfolio loans 55 212
Insurance and investment services income 156 164
(Loss) gain on sale of available-for-sale securities, net (118) 326
Gain on derivatives, net 450 584
Commercial swap fee income 80 413
Holding gain (loss) on equity securities 180 (30)
Other operating income 311 254
Total noninterest income 8,765 9,039
NONINTEREST EXPENSES    
Salaries and employee benefits 11,734 10,473
Occupancy expense 1,185 1,049
Equipment depreciation and maintenance 854 784
Data processing and communications 988 835
Mortgage processing 809 892
Marketing, contributions, and sponsorships 214 347
Professional fees 828 745
Printing, postage, and supplies 135 165
Insurance, tax, and assessment expense 505 390
Travel, entertainment, dues, and subscriptions 690 648
Other operating expenses 506 411
Total noninterest expenses 18,448 16,739
Income before income taxes 3,989 3,291
Income tax expense 797 697
Net income 3,192 2,594
Preferred dividends 121 121
Net income available to common shareholders - basic $ 3,071 $ 2,473
Earnings per share - basic (in dollars per share) $ 0.26 $ 0.24
Earnings per share - diluted (in dollars per share) 0.26 0.23
Cash dividends declared (in dollars per share) $ 0.035 $ 0.025
Weighted average shares outstanding - basic (in shares) 11,607,543 10,474,138
Weighted average shares outstanding - diluted (in shares) 13,177,281 12,714,353