| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||
|---|---|---|---|---|---|---|
Interest and dividend income: | ||||||
Loans, including fees | ||||||
117,124 | 77,342 | 57,186 | 42,360 | 31,110 | ||
Securities: | ||||||
Taxable | ||||||
3,730 | 743 | 813 | 886 | 1,024 | ||
Tax-exempt | ||||||
11 | 29 | 30 | 30 | 31 | ||
Money market funds | ||||||
159 | 135 | 315 | 142 | 110 | ||
Overnight deposits | ||||||
7,739 | 5,042 | 2,074 | - | - | ||
Other interest and dividends | ||||||
1,017 | 654 | 446 | 737 | 407 | ||
Total interest income | ||||||
129,780 | 83,945 | 60,864 | 44,155 | 32,682 | ||
Interest expense: | ||||||
Deposits | ||||||
25,533 | 9,103 | 5,873 | 4,877 | 3,805 | ||
FHLB Advances | ||||||
- | - | - | 673 | 999 | ||
Borrowed funds | ||||||
4,118 | 1,149 | 840 | - | - | ||
Trust preferred securities interest expense | ||||||
899 | 846 | 636 | 539 | 456 | ||
Subordinated debt interest expense | ||||||
1,620 | 1,619 | 1,322 | - | - | ||
Total interest expense | ||||||
32,170 | 12,717 | 8,671 | 6,089 | 5,260 | ||
Net interest income | ||||||
97,610 | 71,228 | 52,193 | 38,066 | 27,422 | ||
Provision (credit) for loan losses | ||||||
4,223 | 3,138 | 7,059 | 8,060 | 2,015 | ||
Net interest income after provision for loan losses | ||||||
93,387 | 68,090 | 45,134 | 30,006 | 25,407 | ||
Non-interest income: | ||||||
Service charges on deposit accounts | ||||||
3,556 | 4,248 | - | - | - | ||
Prepaid third-party debit card income | ||||||
5,643 | 4,640 | - | - | - | ||
Other service charges and fees | ||||||
1,366 | 3,305 | - | - | - | ||
Unrealized gain on equity securities | ||||||
64 | - | - | - | - | ||
Loss on call of securities | ||||||
- | -37 | - | - | - | ||
Service charges on deposit accounts | ||||||
- | - | - | 876 | 754 | ||
Other service charges and fees | ||||||
- | - | - | 1,179 | 476 | ||
Loan prepayment penalties | ||||||
- | - | - | 402 | 700 | ||
Debit card income | ||||||
- | - | - | 2,926 | 2,568 | ||
Net gains on securities transactions | ||||||
- | - | - | 40 | - | ||
Total non-interest income | ||||||
10,629 | 12,156 | 11,189 | 5,423 | 4,498 | ||
Non-interest expense: | ||||||
Compensation and benefits | ||||||
31,242 | 25,658 | 19,166 | 17,010 | 13,221 | ||
Bank premises and equipment | ||||||
6,530 | 5,063 | 4,385 | 3,985 | 3,620 | ||
Directors fees | ||||||
- | - | - | 611 | 540 | ||
Insurance expense | ||||||
- | - | - | 333 | 363 | ||
Professional fees | ||||||
3,427 | 2,922 | 2,544 | 1,595 | 1,360 | ||
Technology costs | ||||||
10,992 | 3,987 | - | - | - | ||
FDIC assessment | ||||||
- | - | - | 675 | 554 | ||
Data processing fees | ||||||
- | - | 1,592 | - | - | ||
Core processing fees | ||||||
- | - | - | 862 | 788 | ||
Other expenses | ||||||
7,764 | 5,841 | 5,058 | 2,300 | 2,631 | ||
Total non-interest expense | ||||||
59,955 | 43,471 | 32,745 | 27,371 | 23,077 | ||
Net income before income tax expense | ||||||
44,061 | 36,775 | 23,578 | 8,058 | 6,828 | ||
Income tax expense | ||||||
13,927 | 11,221 | 11,209 | 3,045 | 2,559 | ||
Net income | ||||||
30,134 | 25,554 | 12,369 | 5,013 | 4,269 | ||
Earnings per common share: | ||||||
Basic earnings per common share (in dollars per share) | ||||||
3.63 | 3.12 | 2.40 | 0.43 | 1.54 | ||
Diluted earnings per common share (in dollars per share) | ||||||
3.56 | 3.06 | 2.34 | 0.43 | 1.54 | ||
Service charges on deposit accounts | ||||||
Service charges on deposit accounts | ||||||
- | - | 3,452 | - | - | ||
Prepaid debit card income | ||||||
Prepaid third-party debit card income | ||||||
- | - | 3,369 | - | - | ||
Other service charges and fees | ||||||
Other service charges and fees | ||||||
- | - | 4,368 | - | - | ||