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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest and Dividend Income:        
Interest and fees on loans $ 22,629 $ 14,766 $ 38,267 $ 29,423
Interest and dividends on securities:        
Taxable 1,980 1,540 3,801 2,864
Tax-exempt 239 423 526 842
Dividends 105 78 189 158
Other interest income 258 185 524 373
Total interest and dividend income 25,211 16,992 43,307 33,660
Interest Expense:        
Interest on deposits 3,520 1,873 5,992 3,698
Interest on short-term borrowings 178 2 350 12
Interest on long-term borrowings 14 0 14 0
Interest on subordinated debt 122 0 122 0
Interest on junior subordinated debt 388 329 772 619
Total interest expense 4,222 2,204 7,250 4,329
Net Interest Income 20,989 14,788 36,057 29,331
Provision for (recovery of) loan losses (10) (30) 6 (74)
Net Interest Income After Provision for (Recovery of) Loan Losses 20,999 14,818 36,051 29,405
Noninterest Income:        
Trust fees 933 945 1,847 1,874
Service charges on deposit accounts 724 592 1,318 1,204
Other fees and commissions 1,015 679 1,723 1,321
Mortgage banking income 586 491 992 941
Securities gains, net 147 289 470 410
Brokerage fees 186 209 333 431
Income (loss) from Small Business Investment Companies (137) 171 31 326
Gains (losses) on premises and equipment, net (87) 0 (87) 3
Other 315 187 506 386
Total noninterest income 3,682 3,563 7,133 6,896
Noninterest Expense:        
Salaries 7,048 5,095 11,712 10,092
Employee benefits 1,425 1,111 2,655 2,286
Occupancy and equipment 1,431 1,100 2,515 2,228
FDIC assessment 169 132 294 278
Bank franchise tax 412 291 702 572
Core deposit intangible amortization 458 77 513 154
Data processing 717 467 1,249 889
Software 321 354 645 659
Other real estate owned, net (44) 25 (31) 55
Merger related expense 10,871 0 11,322 0
Other 3,508 2,350 5,669 4,491
Total noninterest expense 26,316 11,002 37,245 21,704
Income (Loss) Before Income Taxes (1,635) 7,379 5,939 14,597
Income Taxes (405) 1,399 1,166 2,805
Net Income (Loss) $ (1,230) $ 5,980 $ 4,773 $ 11,792
Net Income (Loss) Per Common Share:        
Basic (in dollars per share) $ (0.11) $ 0.69 $ 0.48 $ 1.36
Diluted (in dollars per share) $ (0.11) $ 0.69 $ 0.48 $ 1.36
Weighted Average Common Shares Outstanding:        
Basic (in shares) 11,126,800 8,692,107 9,942,566 8,680,739
Diluted (in shares) 11,126,800 8,704,726 9,952,115 8,695,860