XML 132 R4.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
INTEREST INCOME      
Federal funds sold, interest-bearing deposits and repos $ 906 $ 773 $ 851
FHLB stock 385 462 370
Securities:      
Taxable 1,926 1,907 2,029
Tax-exempt 104 117 159
Total securities 2,030 2,024 2,188
Loans:      
SBA loans 3,780 4,338 3,805
Commercial loans 37,577 33,886 28,150
Residential mortgage loans 22,483 18,837 14,650
Consumer loans 8,487 6,943 5,296
Total loans 72,327 64,004 51,901
Total interest income 75,648 67,263 55,310
INTEREST EXPENSE      
Interest-bearing demand deposits 1,795 1,202 665
Savings deposits 4,497 3,871 2,738
Time deposits 9,460 5,903 3,278
Borrowed funds and subordinated debentures 2,303 2,540 2,772
Total interest expense 18,055 13,516 9,453
Net interest income 57,593 53,747 45,857
Provision for loan losses 2,100 2,050 1,650
Net interest income after provision for loan losses 55,493 51,697 44,207
NONINTEREST INCOME      
Branch fee income 1,502 1,519 1,384
Service and loan fee income 1,965 2,130 2,100
Gain on sale of SBA loans held for sale, net 909 1,680 1,617
Gain on sale of mortgage loans, net 2,090 1,719 1,530
BOLI income 588 975 469
Net security gains (losses) 373 (199) 62
Gain on sale of premises and equipment 766 0 0
Other income 1,346 1,207 1,108
Total noninterest income 9,539 9,031 8,270
NONINTEREST EXPENSE      
Compensation and benefits 20,666 20,119 17,117
Occupancy 2,650 2,739 2,381
Processing and communications 2,924 2,788 2,551
Furniture and equipment 2,894 2,348 2,079
Professional services 1,061 934 1,022
Loan collection and OREO expenses (recoveries) 41 (361) 463
Other loan expenses 272 208 186
Deposit insurance 301 782 546
Advertising 1,358 1,411 1,179
Director fees 673 671 637
Other expenses 1,877 1,782 1,883
Total noninterest expense 34,717 33,421 30,044
Income before provision for income taxes 30,315 27,307 22,433
Provision for income taxes 6,662 5,388 9,540
Net income $ 23,653 $ 21,919 $ 12,893
Net income per common share - Basic (in dollars per share) $ 2.18 $ 2.04 $ 1.22
Net income per common share - Diluted (in dollars per share) $ 2.14 $ 2.01 $ 1.20
Weighted average common shares outstanding - Basic (in shares) 10,845 10,726 10,558
Weighted average common shares outstanding - Diluted (in shares) 11,029 10,916 10,749