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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income:        
Loans $ 8,312 $ 6,432 $ 23,524 $ 17,378
Securities 950 1,035 3,073 2,906
Interest earning deposits and other 236 153 706 470
Total interest income 9,498 7,620 27,303 20,754
Interest expense:        
Savings, NOW and money market deposits 625 291 1,665 580
Time deposits 125 41 375 140
Borrowings 1 12 4 21
Total interest expense 751 344 2,044 741
Net interest income 8,747 7,276 25,259 20,013
Provision for loan losses 425 450 1,250 975
Net interest income after provision for loan losses 8,322 6,826 24,009 19,038
Non-interest income:        
Total non-interest income 3,475 1,800 8,647 5,854
Non-interest expense:        
Employee compensation and benefits 3,817 4,161 10,841 10,230
Occupancy and equipment, net 517 429 1,399 1,287
Professional and consulting services 816 547 2,146 1,859
FDIC and regulatory assessments 40 79 211 235
Advertising and marketing 230 146 592 442
Travel and business relations 136 116 372 384
Data processing 638 485 1,857 1,415
Other operating expenses 410 367 1,175 1,039
Total non-interest expense 6,604 6,330 18,593 16,891
Net income before income taxes 5,193 2,296 14,063 8,001
Income tax expense 1,376 614 3,793 2,140
Net income $ 3,817 $ 1,682 $ 10,270 $ 5,861
Earnings per share        
Basic (in dollars per share) $ 0.52 $ 0.23 $ 1.39 $ 0.80
Diluted (in dollars per share) $ 0.49 $ 0.22 $ 1.32 $ 0.76
Merchant processing income        
Non-interest income:        
Noninterest income $ 3,284 $ 1,300 $ 7,994 $ 3,532
Customer related fees and service charges        
Non-interest income:        
Noninterest income $ 191 $ 500 $ 653 $ 2,322