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CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest and dividend income:        
Loans, including fees $ 28,019 $ 17,996 $ 53,069 $ 35,208
Securities:        
Taxable 376 177 619 363
Tax-exempt 4 8 11 15
Money market funds 92 121 146 240
Overnight deposits 2,060 1,534 3,449 2,577
Other interest and dividends 277 162 524 288
Total interest income 30,828 19,998 57,818 38,691
Interest expense:        
Deposits 5,936 1,799 10,582 3,238
Borrowed funds 1,322 191 2,426 341
Trust preferred securities interest expense 228 208 485 392
Subordinated debt interest expense 405 405 810 809
Total interest expense 7,891 2,603 14,303 4,780
Net interest income 22,937 17,395 43,515 33,911
Provision (credit) for loan losses 1,950 1,270 (81) 2,747
Net interest income after provision for loan losses 20,987 16,125 43,596 31,164
Non-interest income:        
Service charges on deposit accounts 908 821 1,727 2,731
Prepaid third-party debit card income 1,422 1,519 2,679 2,427
Other service charges and fees 313 346 591 2,840
Unrealized gain on equity securities 31   70  
Losses on call of securities   (37)   (37)
Total non-interest income 2,674 2,649 5,067 7,961
Non-interest expense:        
Compensation and benefits 7,921 6,126 15,411 12,443
Bank premises and equipment 1,348 1,288 2,683 2,468
Professional fees 917 841 1,711 1,619
Technology costs 2,618 609 4,003 2,115
Other expenses 1,920 1,411 3,610 2,868
Total non-interest expense 14,724 10,275 27,418 21,513
Net income before income tax expense 8,937 8,499 21,245 17,612
Income tax expense 2,880 2,634 6,657 5,456
Net income $ 6,057 $ 5,865 $ 14,588 $ 12,156
Earnings per common share:        
Basic earnings per common share (in dollars per share) $ 0.73 $ 0.72 $ 1.76 $ 1.48
Diluted earnings per common share (in dollars per share) $ 0.71 $ 0.70 $ 1.72 $ 1.46