| Dec'19 | Dec'18 | |||||
|---|---|---|---|---|---|---|
Interest Income | ||||||
Interest and fees on loans | ||||||
55,208 | 41,270 | |||||
Interest on investments securities | ||||||
2,202 | 1,470 | |||||
Interest on federal funds sold | ||||||
1,403 | 1,095 | |||||
Total Interest Income | ||||||
58,813 | 43,835 | |||||
Interest Expense | ||||||
Interest on interest bearing DDA deposits | ||||||
998 | 900 | |||||
Interest on savings and NOW deposits | ||||||
289 | 251 | |||||
Interest on money market deposits | ||||||
2,379 | 1,708 | |||||
Interest on time deposits | ||||||
14,196 | 8,065 | |||||
Interest on federal fund purchases | ||||||
1 | 6 | |||||
Interest on Federal Home Loan Bank advances | ||||||
548 | 770 | |||||
Interest on subordinated debt | ||||||
966 | 966 | |||||
Total Interest Expense | ||||||
19,377 | 12,666 | |||||
Net interest income | ||||||
39,436 | 31,169 | |||||
Provision for Loan Losses | ||||||
1,618 | 3,126 | |||||
Net interest income after provision for loan losses | ||||||
37,818 | 28,043 | |||||
Non-Interest Income | ||||||
Deposit account service charges | ||||||
-1,668 | -1,103 | |||||
Bank owned life insurance income | ||||||
498 | 427 | |||||
Loan swap fee income | ||||||
989 | 713 | |||||
Net gain on available-for-sale securities | ||||||
5 | - | |||||
Net gain on sale of loans | ||||||
566 | - | |||||
Other fee income | ||||||
1,136 | 996 | |||||
Total Non-Interest Income | ||||||
4,862 | 3,239 | |||||
Non-Interest Expense | ||||||
Salaries and employee benefits | ||||||
15,776 | 11,845 | |||||
Furniture and equipment expenses | ||||||
1,728 | 1,859 | |||||
Advertising and marketing | ||||||
906 | 614 | |||||
Occupancy expenses | ||||||
864 | 736 | |||||
Outside services | ||||||
863 | 838 | |||||
Franchise tax | ||||||
1,229 | 685 | |||||
FDIC insurance | ||||||
680 | 733 | |||||
Data processing | ||||||
995 | 811 | |||||
Administrative expenses | ||||||
731 | 576 | |||||
Other operating expenses | ||||||
1,604 | 1,282 | |||||
Total Non-Interest Expense | ||||||
25,376 | 19,979 | |||||
Income before income taxes | ||||||
17,304 | 11,303 | |||||
Income Tax Expense | ||||||
3,354 | 2,094 | |||||
Net Income | ||||||
13,950 | 9,209 | |||||
Net Income per common share: | ||||||
Basic | ||||||
1.69 | 1.38 | |||||
Diluted | ||||||
1.69 | 1.38 | |||||