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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
INTEREST INCOME    
Interest and fees on loans $ 18,939 $ 17,662
Interest on deposits with other banks 111 122
Interest on investment securities - taxable 666 879
Interest on tax exempt loans and securities 983 960
Total interest income 20,699 19,623
INTEREST EXPENSE    
Interest on deposits 3,910 4,123
Interest on repurchase agreements 10 14
Interest on FHLB and other borrowings 573 1,229
Interest on subordinated debt 35 285
Total interest expense 4,528 5,651
NET INTEREST INCOME 16,171 13,972
Provision for loan losses 1,138 300
Net interest income after provision for loan losses 15,033 13,672
NONINTEREST INCOME    
Noninterest income 1,820 569
Income on bank owned life insurance 223 525
Mortgage fee income 11,219 6,670
Gain on sale of portfolio loans 130 55
Insurance and investment services income 207 156
Gain (loss) on sale of available-for-sale securities, net 276 (118)
(Loss) gain on derivatives, net (3,562) 450
Commercial swap fee income 320 80
Holding gain on equity securities 14 180
Compliance consulting income 1,009 0
Other operating income 464 311
Total noninterest income 10,850 8,765
NONINTEREST EXPENSES    
Salaries and employee benefits 16,182 11,734
Occupancy expense 1,220 1,185
Equipment depreciation and maintenance 877 854
Data processing and communications 1,163 988
Mortgage processing 851 809
Marketing, contributions, and sponsorships 336 214
Professional fees 1,331 828
Printing, postage, and supplies 177 135
Insurance, tax, and assessment expense 464 505
Travel, entertainment, dues, and subscriptions 1,218 690
Other operating expenses 837 506
Total noninterest expenses 24,656 18,448
Income before income taxes 1,227 3,989
Income tax expense 179 797
Net income 1,048 3,192
Preferred dividends 114 121
Net income available to common shareholders - basic $ 934 $ 3,071
Earnings per share - basic (in dollars per share) $ 0.08 $ 0.26
Earnings per share - diluted (in dollars per share) $ 0.08 $ 0.26
Weighted average shares outstanding - basic (in shares) 11,942,767 11,607,543
Weighted average shares outstanding - diluted (in shares) 12,298,092 13,177,281
Service charges on deposit accounts    
NONINTEREST INCOME    
Noninterest income $ 450 $ 315
Debit card and interchange income    
NONINTEREST INCOME    
Noninterest income $ 100 $ 141