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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest income:        
Interest and fees on taxable loans $ 10,446 $ 9,518 $ 30,259 $ 27,611
Interest and fees on tax-exempt loans 261 130 702 384
Interest and dividends on taxable investment securities 2,591 1,509 7,805 4,396
Interest and dividends on tax-exempt investment securities 173 153 526 416
Interest on federal funds sold and other interest-earning assets 149 60 299 223
Total interest income 13,620 11,370 39,591 33,030
Interest expense:        
Demand- interest bearing 553 378 1,471 1,009
Money market and savings 677 538 1,923 1,592
Time deposits 301 183 625 528
Other borrowings 303 279 898 833
Total interest expense 1,834 1,378 4,917 3,962
Net interest income 11,786 9,992 34,674 29,068
Provision for loan losses 607 1,557
Net interest income after provision for loan losses 11,179 9,992 33,117 29,068
Non-interest income:        
Loan advisory and servicing fees 218 163 1,018 1,087
Gain on sales of loans 4,413 884 6,995 2,684
Service fees on deposit accounts 686 452 1,910 1,213
Gain on sale of investment securities 2 64 656 73
Other-than-temporary impairment (12) (39) (13)
Portion recognized in other comprehensive income (before taxes) 10 32 10
Net impairment loss on investment securities (2) (7) (3)
Other non-interest income (94) (41) (282) (149)
Total non-interest income 5,411 1,604 10,854 5,203
Non-interest expenses:        
Salaries and employee benefits 7,731 5,730 20,334 16,667
Occupancy 1,535 1,240 4,387 3,624
Depreciation and amortization 1,051 671 2,816 2,126
Legal 158 52 312 631
Other real estate owned 702 425 1,610 1,173
Advertising 218 233 537 475
Data processing 669 408 1,711 1,133
Insurance 262 162 656 532
Professional fees 352 293 1,167 968
Regulatory assessments and costs 296 318 1,011 911
Taxes, other 243 169 495 594
Other operating expenses 2,065 1,323 5,556 3,811
Total non-interest expense 15,282 11,024 40,592 32,645
Income before benefit for income taxes 1,308 572 3,379 1,626
Benefit for income taxes (32) (10) (69) (17)
Net income $ 1,340 $ 582 $ 3,448 $ 1,643
Net income per share:        
Basic (in dollars per share) $ 0.04 $ 0.02 $ 0.09 $ 0.04
Diluted (in dollars per share) $ 0.03 $ 0.02 $ 0.09 $ 0.04