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Condensed Consolidated Statements of Income - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest Income        
Loans $ 22,016,000 $ 16,804,000 $ 56,821,000 $ 44,870,000
Investment securities:        
Trading 1,300,000 1,516,000 4,124,000 3,015,000
Available for sale 1,259,000 825,000 3,175,000 2,393,000
Federal Home Loan Bank stock 80,000 80,000 240,000 240,000
Other 1,351,000 602,000 3,117,000 1,730,000
Total interest income 26,006,000 19,827,000 67,477,000 52,248,000
Interest Expense        
Deposits 5,659,000 3,016,000 14,170,000 7,976,000
Borrowed funds 1,957,000 1,841,000 5,662,000 5,483,000
Total interest expense 7,616,000 4,857,000 19,832,000 13,459,000
Net interest income 18,390,000 14,970,000 47,645,000 38,789,000
Provision for loan losses 592,000 240,000 1,072,000 720,000
Net Interest Income After Provision for Loan Losses 17,798,000 14,730,000 46,573,000 38,069,000
Non interest Income        
Gain on sale of loans 7,204,000 10,499,000 27,813,000 17,109,000
Loan servicing fees (costs), net (83,000) 116,000 2,301,000 2,207,000
Mortgage warehouse fees 749,000 890,000 2,007,000 2,068,000
Gains on sale of investments available for sale (includes $0, $24, $0 and $24, respectively, related to accumulated other comprehensive earnings reclassifications)   24,000   24,000
Other income 186,000 100,000 652,000 172,000
Total noninterest income 8,056,000 11,629,000 32,773,000 21,580,000
Noninterest Expense        
Salaries and employee benefits 5,350,000 3,798,000 14,417,000 10,069,000
Loan expenses 1,119,000 1,171,000 3,072,000 3,077,000
Occupancy and equipment 326,000 331,000 1,080,000 1,003,000
Professional fees 561,000 204,000 1,091,000 943,000
Deposit insurance expense 230,000 324,000 704,000 914,000
Technology expense 325,000 276,000 831,000 697,000
Other expense 1,031,000 1,069,000 2,649,000 2,633,000
Total noninterest expense 8,942,000 7,173,000 23,844,000 19,336,000
Income Before Income Taxes 16,912,000 19,186,000 55,502,000 40,313,000
Provision for Income Taxes (includes $0, $10, $0 and $10, respectively, related to income tax expense for reclassification items) 6,445,000 7,587,000 21,147,000 15,940,000
Net Income $ 10,467,000 $ 11,599,000 $ 34,355,000 $ 24,373,000
Basic earnings per share (in dollar per share) $ 0.45 $ 0.51 $ 1.50 $ 1.10
Diluted earnings per share (in dollar per share) $ 0.45 $ 0.51 $ 1.50 $ 1.10
Weighted-average shares outstanding Basic (in Shares) 21,310,199 21,111,200 21,180,384 21,111,200
Weighted-average shares outstanding Diluted (in Shares) 21,318,359 21,113,961 21,186,444 21,112,842
Dividends per share $ 0.05 $ 0.05 $ 0.15 $ 0.15