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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
INTEREST INCOME        
Interest and fees on loans $ 7,414 $ 5,363 $ 14,772 $ 10,262
Interest and dividends on securities 56 27 111 57
Other interest income 14 7 27 21
Total interest income 7,484 5,397 14,910 10,340
INTEREST EXPENSE        
Deposits 596 485 1,173 926
Short-term borrowings 26 25 55 56
Long-term borrowings 63 58 116 101
Total interest expense 685 568 1,344 1,083
NET INTEREST INCOME 6,799 4,829 13,566 9,257
Provision for credit losses 535 325 785 501
Net interest income after provision for credit losses 6,264 4,504 12,781 8,756
NONINTEREST INCOME        
Service charges on deposit accounts 187 153 403 307
Realized and unrealized gains on mortgage banking activity 2,133 1,326 3,505 1,476
Income from bank owned life insurance 89 94 175 186
Loan fee income 824 376 1,292 519
Other operating income 205 110 412 194
Total noninterest income 3,438 2,059 5,787 2,682
NONINTEREST EXPENSE        
Compensation and benefits 3,939 2,907 7,789 5,667
Occupancy and equipment 904 586 1,879 1,056
Amortization of core deposit intangible 84 21 167 41
Marketing and business development 679 459 1,307 720
Professional fees 722 341 1,218 571
Data processing fees 521 170 1,166 314
FDIC Assessment 119 119 209 201
Loan production expense 590 274 935 419
Other operating expense 882 472 1,605 853
Total noninterest expense 8,440 5,349 16,275 9,842
INCOME BEFORE INCOME TAXES 1,262 1,214 2,293 1,596
Income tax expense 471 477 853 593
NET INCOME 791 737 1,440 1,003
Preferred stock dividends 31 32 63 63
Net income available to common shareholders $ 760 $ 705 $ 1,377 $ 940
NET INCOME PER COMMON SHARE        
Basic (in dollars per share) $ 0.16 $ 0.17 $ 0.31 $ 0.23
Diluted (in dollars per share) $ 0.16 $ 0.17 $ 0.31 $ 0.23