XML 16 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest income:        
Interest and fees on taxable loans $ 10,096 $ 9,142 $ 19,813 $ 18,093
Interest and fees on tax-exempt loans 227 128 441 254
Interest and dividends on taxable investment securities 2,620 1,405 5,214 2,887
Interest and dividends on tax-exempt investment securities 179 138 353 263
Interest on federal funds sold and other interest-earning assets 87 86 150 163
Total interest income 13,209 10,899 25,971 21,660
Interest expense:        
Demand- interest bearing 503 341 918 631
Money market and savings 637 501 1,246 1,054
Time deposits 183 170 324 345
Other borrowings 289 278 595 554
Total interest expense 1,612 1,290 3,083 2,584
Net interest income 11,597 9,609 22,888 19,076
Provision for loan losses 650 950
Net interest income after provision for loan losses 10,947 9,609 21,938 19,076
Non-interest income:        
Loan advisory and servicing fees 197 325 800 924
Gain on sales of SBA loans 1,749 1,222 2,582 1,800
Service fees on deposit accounts 654 398 1,224 761
Gain on sale of investment securities 358 9 654 9
Other-than-temporary impairment (25) (27) (13)
Portion recognized in other comprehensive income (before taxes) 21 22 10
Net impairment loss on investment securities (4) (5) (3)
Other non-interest income (77) (68) (188) (108)
Total non-interest income 3,031 2,022 5,443 3,599
Non-interest expenses:        
Salaries and employee benefits 6,551 5,715 12,603 10,937
Occupancy 1,447 1,219 2,852 2,384
Depreciation and amortization 796 732 1,765 1,455
Legal 66 340 154 579
Other real estate owned 323 371 908 748
Advertising 190 91 319 242
Data processing 575 373 1,042 725
Insurance 188 190 394 370
Professional fees 455 350 815 675
Regulatory assessments and costs 373 301 715 593
Taxes, other 228 204 252 425
Other operating expenses 1,775 1,217 3,491 2,488
Total non-interest expense 12,967 11,103 25,310 21,621
Income before benefit for income taxes 1,011 528 2,071 1,054
Benefit for income taxes (12) (5) (37) (7)
Net income $ 1,023 $ 533 $ 2,108 $ 1,061
Net income per share:        
Basic (in dollars per share) $ 0.03 $ 0.01 $ 0.06 $ 0.03
Diluted (in dollars per share) $ 0.03 $ 0.01 $ 0.05 $ 0.03