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CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest and dividend income:        
Loans, including fees $ 31,208 $ 20,255 $ 84,277 $ 55,467
Securities:        
Taxable 1,561 183 2,181 547
Tax-exempt   7 11 22
Money market funds 93 48 239 288
Overnight deposits 2,381 1,233 5,830 3,810
Other interest and dividends 253 181 776 468
Total interest income 35,496 21,907 93,314 60,602
Interest expense:        
Deposits 7,881 2,565 18,463 5,802
Borrowed funds 943 355 3,369 697
Trust preferred securities interest expense 214 231 699 623
Subordinated debt interest expense 405 405 1,215 1,214
Total interest expense 9,443 3,556 23,746 8,336
Net interest income 26,053 18,351 69,568 52,266
Provision (credit) for loan losses 2,004 (453) 1,923 2,294
Net interest income after provision for loan losses 24,049 18,804 67,645 49,972
Non-interest income:        
Service charges on deposit accounts 852 693 2,579 3,422
Prepaid third-party debit card income 1,482 1,080 4,161 3,506
Other service charges and fees 349 239 940 3,076
Unrealized gain on equity securities 17   87  
Losses on call of securities       (37)
Total non-interest income 2,700 2,012 7,767 9,967
Non-interest expense:        
Compensation and benefits 7,875 6,253 23,286 18,696
Bank premises and equipment 1,790 1,273 4,473 3,739
Professional fees 906 587 2,617 2,207
Technology costs 3,526 847 7,529 2,961
Other expenses 1,398 1,395 5,008 4,265
Total non-interest expense 15,495 10,355 42,913 31,868
Net income before income tax expense 11,254 10,461 32,499 28,071
Income tax expense 3,571 3,348 10,228 8,803
Net income $ 7,683 $ 7,113 $ 22,271 $ 19,268
Earnings per common share:        
Basic earnings per common share (in dollars per share) $ 0.92 $ 0.87 $ 2.69 $ 2.35
Diluted earnings per common share (in dollars per share) $ 0.90 $ 0.85 $ 2.63 $ 2.31