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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest and fees on loans:        
Taxable $ 10,799 $ 9,441 $ 31,016 $ 26,085
Tax-exempt 21 19 73 34
Interest on securities:        
Taxable 401 387 1,195 953
Tax-exempt 72 57 226 114
Other interest income 230 91 475 212
Total interest income 11,523 9,995 32,985 27,398
INTEREST EXPENSE:        
Deposits 1,157 870 3,170 2,410
Borrowings 577 429 1,541 1,008
Total interest expense 1,734 1,299 4,711 3,418
Net interest income 9,789 8,696 28,274 23,980
Provision for loan losses 200 200 400 350
Net interest income after provision for loan losses 9,589 8,496 27,874 23,630
OTHER INCOME:        
Deposit service fees 262 259 803 723
Income from mortgage loans sold on the secondary market 434 512 1,048 1,118
SBA/USDA loan sale gains 278 551 426 717
Net mortgage servicing (amortization) income (6) (12) (24) (74)
Net realized security gains 38 40 38 149
Other 147 139 433 379
Total other income 1,153 1,489 2,724 3,012
OTHER EXPENSE:        
Salaries and employee benefits 3,934 3,687 11,388 10,592
Occupancy 761 680 2,322 1,960
Furniture and equipment 616 440 1,640 1,248
Data processing 533 440 1,482 1,118
Advertising 227 157 524 494
Professional service fees 323 309 1,049 807
Loan origination expenses and deposit and card related fees 181 152 515 434
Writedowns and losses on other real estate held for sale 43 60 298 62
FDIC insurance assessment 210 131 556 356
Telephone 154 140 445 374
Transaction related expenses   359   2,928
Other 742 730 2,199 2,003
Total other expenses 7,724 7,285 22,418 22,376
Income before provision for income taxes 3,018 2,700 8,180 4,266
Provision for income taxes 925 922 2,681 1,481
NET INCOME $ 2,093 $ 1,778 $ 5,499 $ 2,785
INCOME PER COMMON SHARE:        
Basic (in dollars per share) $ 0.33 $ 0.29 $ 0.88 $ 0.45
Diluted (in dollars per share) $ 0.33 $ 0.28 $ 0.87 $ 0.45