| Dec'19 | Dec'18 | Dec'17 | ||||
|---|---|---|---|---|---|---|
Interest and Dividend Income | ||||||
Interest and fees on loans | ||||||
62,182 | 48,216 | 37,505 | ||||
Interest and dividends on securities held-to-maturity | ||||||
30 | 51 | 51 | ||||
Interest and dividends on securities available-for-sale | ||||||
3,496 | 2,767 | 2,433 | ||||
Dividends on restricted stock | ||||||
321 | 291 | 223 | ||||
Interest on deposits at other financial institutions | ||||||
705 | 599 | 90 | ||||
Total interest and dividend income | ||||||
66,734 | 51,924 | 40,302 | ||||
Interest Expense | ||||||
Interest on deposits | ||||||
16,830 | 10,354 | 6,417 | ||||
Interest on federal funds purchased | ||||||
145 | 28 | - | ||||
Interest on federal funds purchased | ||||||
- | - | 8 | ||||
Interest on short-term debt | ||||||
116 | 74 | 189 | ||||
Interest on long-term debt | ||||||
- | 74 | 1 | ||||
Interest on subordinated notes | ||||||
1,580 | 1,580 | 1,580 | ||||
Total interest expense | ||||||
18,671 | 12,110 | 8,195 | ||||
Net Interest Income | ||||||
48,063 | 39,814 | 32,107 | ||||
Provision for loan losses | ||||||
1,720 | 1,920 | 1,200 | ||||
Net interest income after provision for loan losses | ||||||
46,343 | 37,894 | 30,907 | ||||
Noninterest Income | ||||||
Service charges on deposit accounts | ||||||
890 | 635 | 546 | ||||
Gain on sale of securities available-for-sale | ||||||
- | -462 | 164 | ||||
Gains on calls of securities held-to-maturity | ||||||
3 | - | - | ||||
Loss on loans held for sale | ||||||
-145 | - | - | ||||
Gain on foreclosure of other real estate owned | ||||||
- | - | 1,076 | ||||
BOLI income | ||||||
662 | 438 | 855 | ||||
Other income | ||||||
1,136 | 1,050 | 334 | ||||
Total noninterest income | ||||||
2,546 | 1,661 | 2,975 | ||||
Noninterest Expenses | ||||||
Salaries and employee benefits | ||||||
17,047 | 14,008 | 11,659 | ||||
Occupancy and equipment expense | ||||||
3,400 | 2,524 | 2,259 | ||||
Data processing and network administration | ||||||
1,638 | 1,233 | 1,074 | ||||
State franchise taxes | ||||||
1,696 | 1,184 | 1,041 | ||||
Audit, legal and consulting fees | ||||||
826 | 649 | 513 | ||||
Merger and acquisition expense | ||||||
133 | 3,339 | - | ||||
Loan related expenses | ||||||
476 | 364 | 285 | ||||
FDIC insurance | ||||||
244 | 469 | 384 | ||||
Marketing, business development and advertising | ||||||
396 | 339 | 375 | ||||
Director fees | ||||||
532 | 457 | 405 | ||||
Postage, courier and telephone | ||||||
195 | 212 | 188 | ||||
Internet banking | ||||||
439 | 308 | 242 | ||||
Core deposits intangible amortization | ||||||
385 | 118 | 20 | ||||
Other operating expenses | ||||||
1,470 | 1,244 | 901 | ||||
Total noninterest expenses | ||||||
28,877 | 26,448 | 19,346 | ||||
Net income before income tax expense | ||||||
20,012 | 13,107 | 14,535 | ||||
Income tax expense | ||||||
4,184 | 2,238 | 6,846 | ||||
Net income | ||||||
15,828 | 10,869 | 7,690 | ||||
Earnings per share, basic | ||||||
1.15 | 0.93 | 0.74 | ||||
Earnings per share, diluted | ||||||
1.07 | 0.85 | 0.67 | ||||