XML 17 R4.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Interest and Dividend Income    
Interest and fees on loans $ 48,216 $ 37,505
Interest and dividends on securities held-to-maturity 51 51
Interest and dividends on securities available-for-sale 2,767 2,433
Dividends on restricted stock 291 223
Interest on deposits at other financial institutions 599 90
Total interest and dividend income 51,924 40,302
Interest Expense    
Interest on deposits 10,354 6,417
Interest on federal funds purchased 28 8
Interest on short-term debt 74 189
Interest on long-term debt 74 1
Interest on subordinated notes 1,580 1,580
Total interest expense 12,110 8,195
Net Interest Income 39,814 32,107
Provision for loan losses 1,920 1,200
Net interest income after provision for loan losses 37,894 30,907
Noninterest Income    
Service charges on deposit accounts 635 546
Gain (loss) on sale of securities available-for-sale (462) 164
Gain on foreclosure of other real estate owned   1,076
BOLI income 438 855
Other fee income 1,050 334
Total noninterest income 1,661 2,975
Noninterest Expenses    
Salaries and employee benefits 14,008 11,659
Occupancy and equipment expense 2,524 2,259
Data processing and network administration 1,233 1,074
State franchise taxes 1,184 1,041
Audit, legal and consulting fees 649 513
Merger and acquisition expense 3,339  
Loan related expenses 364 285
FDIC insurance 469 384
Marketing, business development and advertising 339 375
Director fees 457 405
Postage, courier and telephone 212 188
Internet banking 308 242
Core deposits intangible amortization 118 20
Other operating expenses 1,244 901
Total noninterest expenses 26,448 19,346
Net income before income tax expense 13,107 14,535
Income tax expense 2,238 6,846
Net income $ 10,869 $ 7,690
Earnings per share, basic $ 0.93 $ 0.74
Earnings per share, diluted $ 0.85 $ 0.67