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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Interest income:      
Interest and fees on loans $ 39,112 $ 35,435 $ 32,871
Interest on taxable securities 3,921 2,986 3,284
Interest on tax-exempt securities 2,144 2,256 2,392
Interest on interest-bearing deposits in other banks 772 332 206
Total interest income 45,949 41,009 38,753
Interest expense:      
Interest on demand deposits 744 523 460
Interest on savings deposits 200 174 213
Interest on certificates of deposit 2,188 2,179 2,356
Interest on term debt 1,168 1,667 1,759
Interest on junior subordinated debentures 287 235 195
Total interest expense 4,587 4,778 4,983
Net interest income 41,362 36,231 33,770
Provision for loan and lease losses 950
Net interest income after provision for loan and lease losses 40,412 36,231 33,770
Noninterest income:      
Service charges on deposit accounts 542 413 204
ATM and point of sale fees 1,093 995 383
Fees on payroll and benefit processing 658 593 555
Life insurance 1,050 613 641
Gain on sale of investment securities, net 137 244 443
Impairment losses on investment securities 0 (546)
Federal Home Loan Bank of San Francisco dividends 318 644 630
Gain (loss) on sale of OREO 368 (109) 13
Insured cash sweep fees 197 3
Other income 461 636 314
Total noninterest income 4,824 3,486 3,183
Noninterest expense:      
Salaries and related benefits 17,819 16,425 14,303
Premises and equipment 4,242 3,869 2,894
Federal Deposit Insurance Corporation insurance premium 318 615 717
Data processing fees 1,749 1,675 1,016
Professional service fees 1,398 1,690 1,628
Telecommunications 879 751 449
Branch acquisition costs 580 347
Loss on cancellation of interest rate swap 2,325
Other expenses 4,559 4,570 3,551
Total noninterest expense 30,964 32,500 24,905
Income before provision for income taxes 14,272 7,217 12,048
Provision for income taxes 6,928 1,958 3,462
Net income 7,344 5,259 8,586
Less: Preferred stock extinguishment costs 102
Less: Preferred stock dividends 189
Income available to common shareholders $ 7,344 $ 5,259 $ 8,295
Earnings per share - basic (in dollars per share) $ 0.48 $ 0.39 $ 0.62
Weighted average shares - basic (in shares) [1] 15,207 13,367 13,331
Earnings per share - diluted (in dollars per share) $ 0.48 $ 0.39 $ 0.62
Weighted average shares - diluted (in shares) 15,310 13,425 13,365
[1] Excludes unvested restricted shares because they do not have dividend or voting rights.