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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
INTEREST INCOME:        
Loans, including fees $ 28,588 $ 24,057 $ 80,584 $ 69,124
Securities:        
Taxable 547 607 1,548 1,329
Tax-exempt 1,574 1,505 4,789 3,402
Deposits in other financial institutions 192 150 479 442
Total interest income 30,901 26,319 87,400 74,297
INTEREST EXPENSE:        
Demand, money market and savings deposits 811 651 2,167 1,764
Certificates and other time deposits 2,299 1,872 6,539 5,097
Borrowed funds 654 264 2,068 634
Subordinated debentures 140 123 394 360
Total interest expense 3,904 2,910 11,168 7,855
NET INTEREST INCOME 26,997 23,409 76,232 66,442
Provision for loan losses 6,908 2,214 11,258 4,569
Net interest income after provision for loan losses 20,089 21,195 64,974 61,873
NONINTEREST INCOME:        
Nonsufficient funds fees 144 175 527 483
Service charges on deposit accounts 204 182 604 500
Gain on sale of branch assets 0 0 0 2,050
Loss on sale of securities (12) 0 (12) 0
Gain on sale of other real estate 0 60 0 60
Bank owned life insurance income 146 154 440 473
Other 978 703 2,719 2,224
Total noninterest income 1,460 1,274 4,278 5,790
NONINTEREST EXPENSE:        
Salaries and employee benefits 11,580 9,781 32,557 28,231
Net occupancy and equipment 1,325 1,260 4,054 3,706
Depreciation 427 404 1,225 1,236
Data processing and software amortization 783 655 2,197 1,930
Professional fees 822 442 2,704 1,377
Regulatory assessments and FDIC insurance 582 396 1,740 1,096
Core deposit intangibles amortization 195 196 586 590
Communications 251 264 731 818
Advertising 302 228 853 626
Other 1,409 1,269 4,039 3,461
Total noninterest expense 17,676 14,895 50,686 43,071
INCOME BEFORE INCOME TAXES 3,873 7,574 18,566 24,592
Provision for income taxes 887 2,103 4,138 7,512
NET INCOME $ 2,986 $ 5,471 $ 14,428 $ 17,080
EARNINGS PER SHARE:        
Basic (in dollars per share) $ 0.23 $ 0.42 $ 1.10 $ 1.33
Diluted (in dollars per share) $ 0.22 $ 0.42 $ 1.07 $ 1.31