| Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Sep'09 |
|---|---|---|---|---|---|---|---|---|---|
Interest and dividend income: | |||||||||
Interest and fees on loans | |||||||||
91,337 | 72,011 | 57,513 | 44,890 | 35,293 | 28,403 | 24,568 | 19,525 | 17,967 | 20,071 |
Interest on taxable debt securities | |||||||||
3,494 | 3,356 | 3,159 | 3,064 | 3,131 | 2,455 | 2,124 | 2,536 | 2,914 | 3,085 |
Dividends | |||||||||
1,923 | 1,193 | 760 | 373 | 143 | 28 | 47 | 115 | 298 | 351 |
Other interest income | |||||||||
1,497 | 583 | 189 | 79 | 85 | 82 | 85 | 46 | 9 | 18 |
Total interest and dividend income | |||||||||
98,251 | 77,143 | 61,621 | 48,406 | 38,652 | 30,968 | 26,824 | 22,222 | 21,188 | 23,525 |
Interest expense: | |||||||||
Interest on deposits | |||||||||
23,761 | 12,900 | 9,434 | 7,768 | 5,809 | 4,215 | 4,125 | 3,656 | 3,817 | 4,889 |
Interest on Federal Home Loan Bank advances | |||||||||
13,391 | 8,150 | 4,788 | 2,394 | 1,209 | 735 | 958 | 1,892 | 3,457 | 5,829 |
Interest on securities sold under agreements to repurchase | |||||||||
5 | 4 | 4 | 4 | 3 | 4 | 8 | 16 | 33 | 50 |
Interest on other borrowed funds | |||||||||
- | - | 5 | 28 | 30 | 33 | 42 | 81 | 236 | 353 |
Total interest expense | |||||||||
37,157 | 21,054 | 14,231 | 10,194 | 7,051 | 4,987 | 5,133 | 5,645 | 7,543 | 11,121 |
Net interest and dividend income | |||||||||
61,094 | 56,089 | 47,390 | 38,212 | 31,601 | 25,981 | 21,691 | 16,577 | 13,645 | 12,404 |
Provision for loan losses | |||||||||
1,657 | 2,762 | 2,385 | 2,317 | 1,552 | 1,498 | 2,736 | 2,285 | 438 | 597 |
Net interest and dividend income after provision for loan losses | |||||||||
59,437 | 53,327 | 45,005 | 35,895 | 30,049 | 24,483 | 18,955 | 14,292 | 13,207 | 11,807 |
Noninterest income: | |||||||||
Customer service fees | |||||||||
- | - | - | 894 | 874 | 938 | 830 | 637 | 453 | 490 |
Income from bank-owned life insurance | |||||||||
1,478 | 1,120 | 1,050 | 893 | 559 | 435 | 439 | 435 | 474 | 534 |
Net gain on sales of securities | |||||||||
- | 38 | - | - | - | - | - | - | - | - |
Net gain on sales of securities | |||||||||
- | - | - | - | - | 34 | 59 | - | - | - |
Net gain on sales of securities | |||||||||
- | - | - | - | - | - | - | 2,790 | 166 | - |
Bank owned life insurance death benefit | |||||||||
- | - | - | - | - | - | - | - | - | 193 |
Net gain on sales of loans | |||||||||
756 | 936 | 271 | 395 | 486 | 1,024 | 2,520 | 462 | 340 | 333 |
Loan level derivative income | |||||||||
1,417 | - | - | - | - | - | - | - | - | - |
Loan servicing fee income | |||||||||
- | - | - | 614 | 826 | 750 | 467 | 142 | - | - |
Net (loss) gain on investments held in Rabbi Trust | |||||||||
-65 | 158 | 36 | - | - | - | - | - | - | - |
Net gain on trading securities | |||||||||
- | - | - | - | - | - | - | - | 322 | -511 |
Writedown of impaired securities | |||||||||
- | - | - | - | - | - | - | - | 204 | - |
Loan servicing fee income | |||||||||
- | - | - | - | - | - | - | - | 74 | - |
Other income | |||||||||
182 | 192 | 140 | 369 | 549 | 429 | 390 | 41 | 69 | 148 |
Total noninterest income | |||||||||
5,020 | 3,627 | 2,750 | 3,165 | 3,294 | 3,610 | 4,705 | 4,507 | 1,694 | 1,187 |
Noninterest expense: | |||||||||
Salaries and employee benefits | |||||||||
20,327 | 19,533 | 17,757 | 17,610 | 16,581 | 15,207 | 13,305 | 10,137 | 8,009 | 6,350 |
Director compensation | |||||||||
775 | 1,355 | 971 | 912 | 1,032 | 889 | 529 | 354 | - | - |
Director fees | |||||||||
- | - | - | - | - | - | - | - | 311 | - |
Trustee fees | |||||||||
- | - | - | - | - | - | - | - | - | 329 |
Occupancy expense | |||||||||
986 | 964 | 991 | 1,074 | 1,060 | 951 | 801 | 752 | 727 | 670 |
Equipment expense | |||||||||
383 | 422 | 452 | 533 | 605 | 650 | 450 | 350 | 247 | 256 |
Deposit insurance | |||||||||
1,972 | 1,733 | 1,285 | 969 | 749 | 575 | 500 | 456 | 497 | 679 |
Data processing | |||||||||
2,782 | 2,793 | 3,120 | 3,108 | 2,933 | 2,777 | 2,113 | 1,225 | 933 | 563 |
Professional fees | |||||||||
1,064 | 1,044 | 964 | 749 | 765 | 929 | 1,036 | 818 | 645 | 313 |
Marketing | |||||||||
982 | 912 | 872 | 926 | 975 | 999 | 928 | 930 | 533 | 280 |
Merger expense | |||||||||
1,700 | - | - | - | - | - | - | - | - | - |
Contribution to Belmont Savings Bank Foundation | |||||||||
- | - | - | - | - | - | - | 1,999 | - | - |
Other expense | |||||||||
2,045 | 1,930 | 1,937 | 1,943 | 1,790 | 2,114 | 1,884 | 1,184 | 952 | 713 |
Total noninterest expense | |||||||||
33,016 | 30,686 | 28,349 | 27,824 | 26,490 | 25,091 | 21,546 | 18,205 | 12,854 | 10,153 |
Income before income tax expense | |||||||||
31,441 | 26,268 | 19,406 | 11,236 | 6,853 | 3,002 | 2,114 | 594 | 2,047 | 2,841 |
Income tax expense | |||||||||
8,532 | 11,882 | 7,425 | 4,322 | 2,562 | 1,042 | 713 | 295 | 220 | 1,424 |
Net income | |||||||||
22,909 | 14,386 | 11,981 | 6,914 | 4,291 | 1,960 | 1,401 | 299 | 1,827 | 1,417 |
Net income available to common stockholders | |||||||||
22,906 | 14,278 | 11,791 | 6,747 | 4,152 | 1,881 | 1,396 | 299 | 1,827 | - |
Earnings per share | |||||||||
Basic | |||||||||
2.56 | 1.63 | 1.38 | 0.80 | 0.50 | 0.22 | 0.16 | - | - | - |
Diluted | |||||||||
2.44 | 1.55 | 1.33 | 0.78 | 0.49 | 0.22 | 0.16 | - | - | - |
Customer Service Fees | |||||||||
Income from Customer service and loan servicing | |||||||||
896 | 785 | 903 | - | - | - | - | - | - | - |
Loan Servicing Fee | |||||||||
Income from Customer service and loan servicing | |||||||||
356 | 398 | 350 | - | - | - | - | - | - | - |