| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||
|---|---|---|---|---|---|---|
Interest income: | ||||||
Loans | ||||||
31,790 | 24,375 | 17,554 | 14,071 | 10,594 | ||
Securities | ||||||
3,909 | 3,945 | 2,549 | 1,964 | - | ||
Securities | ||||||
- | - | - | - | 1,747 | ||
Interest earning deposits and other | ||||||
960 | 631 | 291 | 133 | 110 | ||
Total interest income | ||||||
36,659 | 28,951 | 20,394 | 16,168 | 12,451 | ||
Interest expense: | ||||||
Savings, NOW and money market deposits | ||||||
2,070 | 908 | 424 | 414 | 353 | ||
Time deposits | ||||||
473 | 275 | 93 | 72 | 78 | ||
Borrowings | ||||||
5 | 29 | 21 | 25 | 26 | ||
Total interest expense | ||||||
2,548 | 1,212 | 538 | 511 | 457 | ||
Net interest income | ||||||
34,111 | 27,739 | 19,856 | 15,657 | 11,994 | ||
Provision for loan losses | ||||||
1,850 | 1,375 | 905 | 595 | 930 | ||
Net interest income after provision for loan losses | ||||||
32,261 | 26,364 | 18,951 | 15,062 | 11,064 | ||
Non-interest income: | ||||||
Net gains on securities available-for-sale | ||||||
- | - | - | 6 | - | ||
Customer related fees and service charges | ||||||
- | - | - | - | 741 | ||
Merchant processing income | ||||||
- | - | - | - | 2,202 | ||
Total non-interest income | ||||||
11,811 | 7,855 | 5,516 | 4,125 | 2,943 | ||
Non-interest expense: | ||||||
Employee compensation and benefits | ||||||
14,677 | 13,039 | 10,072 | 8,244 | 6,251 | ||
Occupancy and equipment, net | ||||||
1,913 | 1,736 | 1,557 | 1,604 | 1,412 | ||
Professional and consulting services | ||||||
2,919 | 2,589 | 1,902 | 1,642 | 1,699 | ||
FDIC and regulatory assessments | ||||||
242 | 321 | 256 | 211 | 245 | ||
Advertising and marketing | ||||||
718 | 524 | 485 | 430 | 334 | ||
Travel and business relations | ||||||
548 | 504 | 428 | 324 | 301 | ||
OCC assessments | ||||||
- | - | - | - | 105 | ||
Data processing | ||||||
2,470 | 1,896 | 1,709 | 1,369 | 1,187 | ||
Other operating expenses | ||||||
1,447 | 1,686 | 1,024 | 775 | 637 | ||
Total non-interest expense | ||||||
24,934 | 22,295 | 17,433 | 14,599 | 12,171 | ||
Net income before income taxes | ||||||
19,138 | 11,924 | 7,034 | 4,588 | 1,836 | ||
Income tax expense | ||||||
4,995 | 3,190 | 3,390 | 1,766 | 664 | ||
Net income | ||||||
14,143 | 8,734 | 3,644 | 2,822 | 1,172 | ||
Earnings per share | ||||||
Basic (in dollars per share) | ||||||
1.91 | 1.18 | 0.59 | 0.56 | 0.25 | ||
Diluted (in dollars per share) | ||||||
1.82 | 1.13 | 0.58 | 0.55 | 0.25 | ||
Merchant processing income | ||||||
Noninterest income | ||||||
10,976 | 4,961 | 3,322 | 3,080 | - | ||
Customer related fees and service charges | ||||||
Noninterest income | ||||||
835 | 2,894 | 2,194 | 1,039 | - | ||