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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
INTEREST INCOME        
Federal funds sold, interest-bearing deposits and repos $ 187 $ 262 $ 563 $ 595
FHLB stock 101 85 359 252
Securities:        
Taxable 465 512 1,442 1,543
Tax-exempt 28 40 88 127
Total securities 493 552 1,530 1,670
Loans:        
SBA loans 1,050 1,042 3,365 2,781
Commercial loans 8,784 7,211 24,718 20,562
Residential mortgage loans 4,803 3,636 13,666 10,603
Consumer loans 1,776 1,407 5,003 3,806
Total loans 16,413 13,296 46,752 37,752
Total interest income 17,194 14,195 49,204 40,269
INTEREST EXPENSE        
Interest-bearing demand deposits 330 168 813 482
Savings deposits 1,049 733 2,768 1,994
Time deposits 1,739 823 4,042 2,441
Borrowed funds and subordinated debentures 509 654 1,997 1,992
Total interest expense 3,627 2,378 9,620 6,909
Net interest income 13,567 11,817 39,584 33,360
Provision for loan losses 500 500 1,550 1,150
Net interest income after provision for loan losses 13,067 11,317 38,034 32,210
NONINTEREST INCOME        
Branch fee income 357 355 1,107 1,029
Service and loan fee income 465 448 1,441 1,472
Gain on sale of SBA loans held for sale, net 253 385 1,383 1,348
Gain on sale of mortgage loans, net 597 392 1,442 1,188
BOLI income 464 111 810 289
Net security gains (losses) 2 53 (6) 69
Other income 341 264 900 838
Total noninterest income 2,479 2,008 7,077 6,233
NONINTEREST EXPENSE        
Compensation and benefits 5,704 4,268 15,274 12,662
Occupancy 675 600 2,057 1,791
Processing and communications 709 656 2,072 1,892
Furniture and equipment 586 513 1,732 1,537
Professional services 270 247 682 724
Loan collection and OREO (recoveries) expenses (331) 114 (320) 493
Other loan expenses 51 47 137 149
Deposit insurance 191 156 593 376
Advertising 370 299 1,051 859
Director fees 175 150 502 496
Other expenses 401 504 1,373 1,439
Total noninterest expense 8,801 7,554 25,153 22,418
Income before provision for income taxes 6,745 5,771 19,958 16,025
Provision for income taxes 1,255 2,014 3,841 5,632
Net income $ 5,490 $ 3,757 $ 16,117 $ 10,393
Net income per common share - Basic (in dollars per share) $ 0.51 $ 0.36 $ 1.50 $ 0.99
Net income per common share - Diluted (in dollars per share) $ 0.50 $ 0.35 $ 1.48 $ 0.97
Weighted average common shares outstanding - Basic (in shares) 10,743 10,572 10,713 10,543
Weighted average common shares outstanding - Diluted (in shares) 10,936 10,761 10,910 10,734