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Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Interest Income    
Loans receivable $ 35,131 $ 24,791
Investment securities    
Taxable 2,430 2,406
Tax exempt 1,865 1,637
Total interest income 39,426 28,834
Interest Expense    
Deposits 2,871 1,753
Borrowed funds 2,572 937
Subordinated debentures 572 576
Total interest expense 6,015 3,266
Net Interest Income 33,411 25,568
Provision for loan losses 567 330
Net Interest Income after Provision for Loan Losses 32,844 25,238
Non-interest Income    
Service charges on deposit accounts 1,888 1,400
Wire transfer fees 150 150
Interchange fees 1,328 1,176
Fiduciary activities 1,925 1,922
Gains on sale of investment securities (includes $11 and $35 for the three months ended March 31, 2018 and 2017, respectively, related to accumulated other comprehensive earnings reclassifications) 11 35
Gain on sale of mortgage loans 1,423 1,914
Mortgage servicing income net of impairment 349 447
Increase in cash value of bank owned life insurance 435 464
Other income 809 51
Total non-interest income 8,318 7,559
Non-interest Expense    
Salaries and employee benefits 14,373 11,709
Net occupancy expenses 2,966 2,452
Data processing 1,696 1,307
Professional fees 501 613
Outside services and consultants 1,264 1,222
Loan expense 1,257 1,107
FDIC insurance expense 310 263
Other losses 146 50
Other expense 3,324 2,798
Total non-interest expense 25,837 21,521
Income Before Income Taxes 15,325 11,276
Income tax expense (includes $2 and $12 for the three months ended March 31, 2018 and 2017, respectively, related to income tax expense from reclassification items) 2,521 3,052
Net Income $ 12,804 $ 8,224
Basic Earnings Per Share $ 0.50 $ 0.37
Diluted Earnings Per Share $ 0.50 $ 0.37