XML 17 R4.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Income - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Interest income:      
Interest and fees on taxable loans $ 62,502,000 $ 48,993,000 $ 40,827,000
Interest and fees on tax-exempt loans 1,543,000 1,101,000 960,000
Interest and dividends on taxable investment securities 26,677,000 19,643,000 11,264,000
Interest and dividends on tax-exempt investment securities 505,000 535,000 703,000
Interest on federal funds sold and other interest-earning assets 847,000 577,000 473,000
Total interest income 92,074,000 70,849,000 54,227,000
Interest expense:      
Demand- interest bearing 7,946,000 3,020,000 2,088,000
Money market and savings 4,898,000 3,160,000 2,639,000
Time deposits 1,588,000 1,238,000 942,000
Other borrowings 1,738,000 1,366,000 1,194,000
Total interest expense 16,170,000 8,784,000 6,863,000
Net interest income 75,904,000 62,065,000 47,364,000
Provision for loan losses 2,300,000 900,000 1,557,000
Net interest income after provision for loan losses 73,604,000 61,165,000 45,807,000
Non-interest income:      
Non-interest income 5,650,000 4,081,000 2,993,000
Gain on sales of SBA loans 3,105,000 3,378,000 4,981,000
Gain (loss) on sale of investment securities (67,000) (146,000) 656,000
Net securities impairment losses recognized in earnings (7,000)
Other non-interest income 174,000 177,000 335,000
Total non-interest income 20,322,000 20,097,000 15,312,000
Non-interest expenses:      
Salaries and employee benefits 44,082,000 37,959,000 28,602,000
Occupancy 8,046,000 7,156,000 6,109,000
Depreciation and amortization 5,447,000 4,618,000 3,518,000
Legal 985,000 984,000 459,000
Other real estate owned 1,588,000 4,092,000 2,182,000
Appraisal and other loan expenses 1,840,000 1,878,000 866,000
Advertising 1,211,000 1,279,000 811,000
Data processing 3,855,000 3,134,000 2,408,000
Insurance 996,000 982,000 962,000
Professional fees 2,048,000 1,893,000 1,580,000
Automated teller machine expenses 1,868,000 1,264,000 814,000
Regulatory assessments and costs 1,675,000 1,367,000 1,413,000
Taxes, other 796,000 817,000 366,000
Other operating expenses 9,284,000 7,853,000 6,203,000
Total non-interest expense 83,721,000 75,276,000 56,293,000
Income before benefit for income taxes 10,205,000 5,986,000 4,826,000
Provision (benefit) for income taxes 1,578,000 (2,919,000) (119,000)
Net income $ 8,627,000 $ 8,905,000 $ 4,945,000
Net income per share      
Basic (in dollars per share) $ 0.15 $ 0.16 $ 0.13
Diluted (in dollars per share) $ 0.15 $ 0.15 $ 0.12
Loan and Servicing Fees [Member]      
Non-interest income:      
Non-interest income $ 1,401,000 $ 1,614,000 $ 1,627,000
Mortgage Banking [Member]      
Non-interest income:      
Non-interest income 10,233,000 11,170,000 5,062,000
Deposit Account [Member]      
Non-interest income:      
Non-interest income $ 5,476,000 $ 3,904,000 $ 2,658,000