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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Interest income      
Loans $ 75,071 $ 50,632 $ 40,623
Investment securities - taxable 14,530 10,858 7,478
Investment securities - tax-exempt 2,054 3,850 3,134
Short term investments 1,339 327 218
Total interest income 92,994 65,667 51,453
Interest expense      
Deposits 19,310 10,229 6,134
Short-term borrowings 623 1,577 784
Long-term debt 1,779 1,632 726
Subordinated notes 1,987 73 0
Total interest expense 23,699 13,511 7,644
Net interest income 69,295 52,156 43,809
Provision for loan losses 900 800 1,000
Net interest income after provision for loan losses 68,395 51,356 42,809
Noninterest income      
Service charges on deposit accounts 3,404 3,233 3,057
Interchange income 3,281 2,821 2,618
Other service charges, commissions and fees 805 907 570
Loan swap referral fees 1,197 0 0
Trust and investment management income 7,255 6,576 6,400
Brokerage income 2,426 2,035 1,896
Mortgage banking activities 3,049 2,663 2,919
Income from life insurance 2,044 1,463 1,109
Other income 331 320 190
Investment securities gains 4,749 1,006 1,190
Total noninterest income 28,541 21,024 19,949
Noninterest expenses      
Salaries and employee benefits 39,495 32,524 30,145
Occupancy 4,325 3,084 2,806
Furniture and equipment 4,723 4,079 3,434
Data processing 3,599 2,674 2,271
Automated teller and interchange fees 1,015 806 767
Advertising and bank promotions 1,967 1,592 1,600
FDIC insurance 367 681 606
Legal fees 585 413 802
Other professional services 2,369 1,434 1,571
Directors' compensation 1,003 984 996
Taxes other than income 1,018 1,012 866
Intangible asset amortization 1,570 286 102
Merger related and branch consolidation expenses 8,964 3,197 0
Insurance claim receivable write off 615 0 0
Other operating expenses 5,687 5,169 4,364
Total noninterest expenses 77,302 57,935 50,330
Income before income tax expense 19,634 14,445 12,428
Income tax expense 2,710 1,640 4,338
Net income $ 16,924 $ 12,805 $ 8,090
Per share information:      
Basic earnings per share (in dollars per share) $ 1.63 $ 1.53 $ 1.00
Diluted earnings per share (in dollars per share) 1.61 1.50 0.98
Dividends per share (in dollars per share) $ 0.60 $ 0.51 $ 0.42