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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 $ 12,095 $ 10,659 $ 33,935 $ 29,532
Securities:        
Taxable 838 787 2,827 2,596
Tax-exempt 304 291 944 841
Federal funds sold 7 4 26 12
Restricted equity securities 108 71 271 210
Interest-bearing deposits in financial institutions 169 63 387 197
Total interest income 13,521 11,875 38,390 33,388
Interest expense:        
Interest-bearing deposits 635 404 1,839 1,096
Savings and money market accounts 772 689 2,360 2,141
Time deposits 706 546 1,750 1,566
Federal funds purchased 2 13 13 21
Securities sold under agreements to repurchase       1
Federal Home Loan Bank advances 563 97 1,083 280
Total interest expense 2,678 1,749 7,045 5,105
Net interest income 10,843 10,126 31,345 28,283
Provision for loan losses (195) 1,639 12,900 2,759
Net interest income after provision for loan losses 11,038 8,487 18,445 25,524
Noninterest income:        
Treasury management and other deposit service charges 427 277 1,097 805
Loan commitment fees 223 329 646 901
Net gain (loss) on sale of securities 9 (4) 42 121
Tri-Net fees 367   748  
Mortgage banking income 2,030 2,339 4,617 5,342
Other noninterest income 316 250 1,021 961
Total noninterest income 3,372 3,191 8,171 8,130
Noninterest expense:        
Salaries and employee benefits 5,119 5,119 14,989 15,275
Data processing and software 709 627 2,040 1,831
Professional fees 336 391 1,050 1,148
Occupancy 531 352 1,518 1,133
Equipment 564 458 1,604 1,301
Regulatory fees 270 250 877 742
Other operating 946 1,330 2,988 3,057
Total noninterest expense 8,475 8,527 25,066 24,487
Income before income taxes 5,935 3,151 1,550 9,167
Income tax expense 1,516 1,042 141 2,998
Net income $ 4,419 $ 2,109 $ 1,409 $ 6,169
Per share information:        
Basic net income per share of common stock $ 0.39 $ 0.24 $ 0.13 $ 0.71
Diluted net income per share of common stock $ 0.35 $ 0.20 $ 0.11 $ 0.58
Weighted average shares outstanding:        
Basic 11,279,364 8,792,665 11,239,093 8,701,596
Diluted 12,750,423 10,799,536 12,758,091 10,682,976