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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Interest income:    
Interest and fees on loans $ 75,172 $ 59,139
Interest and dividends on investments 1,161 1,342
Interest on federal funds sold and deposits with banks 3,207 1,393
Total interest income 79,540 61,874
Interest expense:    
Interest on deposits 18,687 11,071
Interest on borrowings 3,968 2,700
Total interest expense 22,655 13,771
Net interest income 56,885 48,103
Provision for loan losses 2,700 1,800
Net interest income after provision for loan losses 54,185 46,303
Non-interest income    
Gain on sale of SBA loans 116 378
Other loan fees 982 1,121
Bank owned life insurance income 601 613
Service fees on deposit accounts 1,921 1,482
Net loss on sale and valuation adjustments of OREO (246) (690)
Other 465 503
Total non-interest income 3,839 3,407
Non-interest expense    
Compensation and benefits 9,188 8,251
Professional services 1,946 1,419
Occupancy and equipment 1,793 1,675
Data processing 1,046 835
FDIC insurance and other assessments 56 420
OREO expense 415 611
Other operating expense 3,508 3,084
Total non-interest expense 17,952 16,295
Income before income tax expense 40,072 33,415
Income tax expense 9,785 8,377
Net income attributable to Company and noncontrolling interest 30,287 25,038
Less: Net income attributable to noncontrolling interest (446) (214)
Net income attributable to Company 29,841 24,824
Less: Preferred stock dividend (24) (446)
Net income available to common shareholders $ 29,817 $ 24,378
Earnings per common share    
Basic (in dollars per share) $ 2.52 $ 2.30
Diluted (in dollars per share) $ 2.48 $ 2.07
Weighted average common shares outstanding    
Basic (in shares) 11,838,096 10,592,414
Diluted (in shares) 12,011,082 12,002,479