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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest Income:        
Interest and fees on loans $ 9,574 $ 5,091 $ 19,095 $ 10,159
Interest and dividends on investment securities: Taxable 757 752 1,454 1,434
Interest and dividends on investment securities: Exempt from federal taxes 236 294 478 628
Interest on cash and cash equivalents 94 43 128 64
Total interest and dividend income 10,661 6,180 21,155 12,285
Interest Expense:        
Interest on NOW, money market and savings 588 194 1,072 358
Interest on time deposits 313 140 614 257
Interest on brokered deposits 94 71 186 133
Interest on FHLB advances 168 90 337 184
Interest on repurchase agreements 7 10 13 21
Interest on junior subordinated debentures 95 84 187 165
Interest on subordinated debt 103 103 207 207
Interest on other borrowings 14 16 28 33
Total interest expense 1,382 708 2,644 1,358
Net interest income 9,279 5,472 18,511 10,927
Provision for credit losses 585 200 910 530
Net interest income after provision for credit losses 8,694 5,272 17,601 10,397
Non-interest Income:        
Service charges 291 240 654 547
Wealth management 471 441 845 838
Mortgage banking 14 81 50 113
Increase in cash surrender value of BOLI 55 55 110 110
Gains on sale of investment securities, net 25 203 25 234
Gain on sale of loans 97   97 39
Gains from insurance proceeds     80 1,150
Other fees 469 367 867 685
Total non-interest income 1,422 1,387 2,728 3,716
Non-interest Expense:        
Salaries and employee benefits 3,724 2,693 7,365 5,819
Furniture and equipment 505 342 1,001 671
Occupancy 656 467 1,375 935
Professional and consulting 456 333 849 642
Advertising and marketing 274 166 440 349
Printing and supplies 86 60 136 93
FDIC insurance 150 121 345 250
PA shares tax 233 157 458 319
Telecommunications 88 61 178 122
Postage 27 21 62 42
Loss on sale or write down of OREO, net 115 4 114 4
Due diligence and merger expense 26 275 77 463
Other expenses 744 472 1,429 881
Total non-interest expense 7,084 5,172 13,829 10,590
Income before income tax expense 3,032 1,487 6,500 3,523
Income tax expense 746 378 1,773 858
Net income $ 2,286 $ 1,109 $ 4,727 $ 2,665
Earnings per common share:        
Basic $ 0.54 $ 0.39 $ 1.11 $ 0.94
Diluted 0.53 0.39 1.10 0.93
Cash dividends per common share $ 0.07 $ 0.07 $ 0.14 $ 0.14
Weighted average common shares outstanding:        
Basic 4,257,633 2,848,648 4,252,207 2,840,677
Diluted 4,292,411 2,882,729 4,283,424 2,876,016