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Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Interest income:    
Interest and fees on loans $ 20,328 $ 17,441
Interest and dividends on investments 278 315
Interest on federal funds sold and deposits with banks 951 601
Total interest income 21,557 18,357
Interest expense:    
Interest on deposits 5,451 3,963
Interest on borrowings 907 962
Total interest expense 6,358 4,925
Net interest income 15,199 13,432
Provision for loan losses 1,396 700
Net interest income after provision for loan losses 13,803 12,732
Non-interest income    
Gain on sale of SBA loans 0 40
Other loan fees 241 191
Bank owned life insurance income 146 147
Service fees on deposit accounts 568 381
Net loss on sale of OREO (132) 0
Other 165 160
Total non-interest income 988 919
Non-interest expense    
Compensation and benefits 2,545 2,141
Professional services 355 391
Occupancy and equipment 480 471
Data processing 317 218
FDIC insurance and other assessments 141 27
OREO expense 111 75
Other operating expense 920 837
Total non-interest expense 4,869 4,160
Income before income tax expense 9,922 9,491
Income tax expense 2,554 2,316
Net income attributable to Company and noncontrolling interest 7,368 7,175
Less: Net income attributable to noncontrolling interest (156) (114)
Net income attributable to Company 7,212 7,061
Less: Preferred stock dividend (8) (1)
Net income available to common shareholders $ 7,204 $ 7,060
Earnings per common share    
Basic (in dollars per share) $ 0.61 $ 0.60
Diluted (in dollars per share) $ 0.60 $ 0.59
Weighted average common shares outstanding    
Basic (in shares) 11,848,964 11,819,386
Diluted (in shares) 12,008,200 12,003,380