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Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest and fees on loans        
Taxable $ 19,387 $ 14,009 $ 54,487 $ 40,788
Tax-exempt 103 133 391 412
Interest and dividends on securities        
Taxable 1,283 1,138 3,742 3,284
Tax-exempt 1,114 621 2,855 1,857
Interest on interest bearing deposits with other banks 149 5 466 13
Total interest income 22,036 15,906 61,941 46,354
Interest expense        
Interest on deposits 2,963 2,209 7,987 6,533
Interest on short-term borrowings 1,160 675 3,233 1,334
Interest on long-term borrowings and subordinated debentures 681 985 2,012 2,937
Total interest expense 4,804 3,869 13,232 10,804
Net interest income 17,232 12,037 48,709 35,550
Provision for loan losses 375 0 875 500
Net interest income after provision for loan losses 16,857 12,037 47,834 35,050
Noninterest income        
Insurance commissions 1,043 1,016 3,000 3,030
Fees and Commissions, Fiduciary and Trust Activities 589 126 1,284 358
Service fees related to deposit accounts 1,863 1,138 4,737 3,175
Realized securities gains, net 26 61 58 836
Bank owned life insurance income 255 258 758 772
Other 224 150 659 430
Total noninterest income 4,000 2,749 10,496 8,601
Noninterest expenses        
Salaries, commissions and employee benefits 6,610 4,819 18,555 14,265
Net occupancy expense 847 525 2,239 1,576
Equipment expense 1,093 716 2,859 2,059
Professional fees 373 270 1,012 1,171
Marketing and Advertising Expense 137 93 393 280
Amortization of intangibles 448 50 974 150
FDIC premiums 310 200 815 800
Business Combination, Acquisition Related Costs 11 80 1,575 345
Foreclosed properties expense 171 100 397 317
Gain on sales of foreclosed properties, net (29) (169) (111) (451)
Write-downs of foreclosed properties 91 134 538 503
Litigation Settlement 0 0 9,900 0
Other 2,385 1,601 6,253 4,395
Total noninterest expenses 12,447 8,419 45,399 25,410
Income before income tax expense 8,410 6,367 12,931 18,241
Income tax expense 2,480 2,086 3,339 5,655
Net income $ 5,930 $ 4,281 $ 9,592 $ 12,586
Basic earnings per common share $ 0.48 $ 0.40 $ 0.81 $ 1.18
Diluted earnings per common share $ 0.48 $ 0.40 $ 0.81 $ 1.18