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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest Income:        
Interest and fees on loans $ 9,994 $ 5,218 $ 29,089 $ 15,377
Interest and dividends on investment securities: Taxable 721 716 2,175 2,150
Interest and dividends on investment securities: Exempt from federal taxes 236 316 714 944
Interest on cash and cash equivalents 38 27 166 91
Total interest and dividend income 10,989 6,277 32,144 18,562
Interest Expense:        
Interest on NOW, money market and savings 606 230 1,678 588
Interest on time deposits 307 139 921 396
Interest on brokered deposits 160 81 346 214
Interest on FHLB advances 185 92 522 276
Interest on repurchase agreements 8 9 21 30
Interest on junior subordinated debentures 99 89 286 254
Interest on subordinated debt 104 104 311 311
Interest on other borrowings 14 16 42 49
Total interest expense 1,483 760 4,127 2,118
Net interest income 9,506 5,517 28,017 16,444
Provision for credit losses 375 100 1,285 630
Net interest income after provision for credit losses 9,131 5,417 26,732 15,814
Non-interest Income:        
Service charges 282 280 936 827
Wealth management 411 393 1,256 1,231
Mortgage banking 62 76 112 189
Increase in cash surrender value of BOLI 55 56 165 166
Gains on sale of investment securities, net   197 25 431
Gain on sale of loans 35   132 39
Gains from insurance proceeds   30 80 1,180
Other fees 426 337 1,293 1,022
Total non-interest income 1,271 1,369 3,999 5,085
Non-interest Expense:        
Salaries and employee benefits 3,926 2,817 11,291 8,636
Furniture and equipment 525 422 1,526 1,093
Occupancy 631 524 2,006 1,459
Professional and consulting 485 306 1,334 948
Advertising and marketing 135 111 575 460
Printing and supplies 47 36 183 129
FDIC insurance 161 73 506 323
PA shares tax 219 157 677 476
Telecommunications 87 63 265 185
Postage 21 28 83 70
Loss on sale or write down of OREO, net 7 160 121 164
Due diligence and merger expense   1,498 77 1,961
Other expenses 746 509 2,175 1,390
Total non-interest expense 6,990 6,704 20,819 17,294
Income before income tax expense 3,412 82 9,912 3,605
Income tax expense 1,001 81 2,774 939
Net income $ 2,411 $ 1 $ 7,138 $ 2,666
Earnings per common share:        
Basic $ 0.57 $ 0.00 $ 1.68 $ 0.94
Diluted 0.56 0.00 1.66 0.93
Cash dividends per common share $ 0.07 $ 0.07 $ 0.21 $ 0.21
Weighted average common shares outstanding:        
Basic 4,262,165 2,853,080 4,255,520 2,844,780
Diluted 4,296,371 2,885,799 4,287,745 2,879,240