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Consolidated Statements of Earnings - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest income:        
Loans, including fees $ 17,329 $ 17,087 $ 50,682 $ 50,525
Securities and other investments:        
Taxable 2,276 1,983 7,019 5,959
Nontaxable 363 416 1,144 1,294
Federal funds sold 13 3 28 11
Time and interest bearing deposits in other banks 305 83 540 274
Other investments 93 95 255 273
Total interest income 20,379 19,667 59,668 58,336
Interest expense:        
Deposits 1,094 915 3,002 2,725
Securities sold under agreements to repurchase 149 236 619 702
Other borrowings and payables 111 93 290 297
Junior subordinated debentures 212 170 632 507
Total interest expense 1,566 1,414 4,543 4,231
Net interest income 18,813 18,253 55,125 54,105
Provision for loan losses 4,300 2,900 19,600 8,000
Net interest income after provision for loan losses 14,513 15,353 35,525 46,105
Non-interest income:        
Service charges on deposits 2,463 2,584 7,339 7,404
Gain on sale of securities, net 338 0 347 20
ATM and debit card income 1,687 1,620 5,156 4,897
Other charges and fees 998 948 2,911 2,714
Total non-interest income 5,486 5,152 15,753 15,035
Non-interest expenses:        
Salaries and employee benefits 7,849 8,034 25,989 24,206
Occupancy expense 3,711 3,635 11,524 10,899
ATM and debit card expense 654 833 2,088 2,410
Data Processing 640 527 1,928 1,463
FDIC insurance 448 365 1,275 1,214
Legal and Professional Fees 1,404 516 2,983 1,335
Other 3,053 3,204 8,806 9,387
Total non-interest expenses 17,759 17,114 54,593 50,914
Income (loss) before income tax expense (benefit) 2,240 3,391 (3,315) 10,226
Income tax expense (benefit) 574 993 (2,058) 2,986
Net earnings (loss) 1,666 2,398 (1,257) 7,240
Dividends on preferred stock 810 811 2,432 2,049
Net earnings (loss) available to common shareholders $ 856 $ 1,587 $ (3,689) $ 5,191
Earnings (loss) per share:        
Basic (in dollars per share) $ 0.05 $ 0.14 $ (0.28) $ 0.46
Diluted (in dollars per share) $ 0.05 $ 0.14 $ (0.28) $ 0.46
Weighted average number of shares outstanding:        
Basic (in shares) 16,395 11,262 13,314 11,260
Diluted (in shares) 16,396 11,263 13,318 11,260
Dividends declared per common share (in dollars per share) $ 0.01 $ 0.09 $ 0.19 $ 0.27