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Consolidated Statements of Net Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Interest and dividend income:    
Interest and fees on loans $ 21,809 $ 17,382
Interest on securities 1,857 2,210
Dividends 204 157
Other 78 32
Total interest and dividend income 23,948 19,781
Interest expense:    
Interest on deposits 4,775 3,254
Interest on borrowings 814 646
Total interest expense 5,589 3,900
Net interest and dividend income 18,359 15,881
Provision (credit) for loan losses (460) 57
Net interest and dividend income, after provision (credit) for loan losses 18,819 15,824
Non-interest income:    
Deposit account fees 355 320
Interchange and ATM fees 391 348
Mortgage banking 740 740
Loan level derivative income 240 164
Net unrealized losses on equity securities (69) 0
Loss on sales of available for sale securities, net 0 (1,022)
Gain on exchange of investment in Northeast Retirement Services 653 5,947
Bank-owned life insurance income 276 257
Gain on sale of premises and equipment 271 0
Miscellaneous 1,041 62
Total non-interest income 3,898 6,816
Non-interest expense:    
Salaries and employee benefits 8,382 7,563
Occupancy and equipment 2,083 2,115
Data processing 1,044 1,044
Professional fees 453 869
Advertising 304 367
FDIC deposit insurance 233 212
Directors’ fees 409 374
Amortization of core deposit intangible 151 247
Other general and administrative 812 609
Total non-interest expense 13,871 13,400
Income before income taxes 8,846 9,240
Provision for income taxes 2,263 1,753
Net income $ 6,583 $ 7,487
Earnings per common share:    
Basic (dollars per share) $ 0.27 $ 0.31
Diluted (dollars per share) $ 0.27 $ 0.31
Weighted average shares outstanding:    
Basic (shares) 24,172,237 23,911,419
Diluted (shares) 24,827,850 24,275,665