| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
Interest income: | |||||||||
Interest and fees on loans | |||||||||
75,172 | 59,139 | 46,847 | 40,740 | 38,035 | 36,967 | 35,944 | 36,474 | 39,851 | 39,934 |
Interest and dividends on investments | |||||||||
1,161 | 1,342 | 1,429 | 1,245 | 1,296 | 1,054 | 731 | 1,026 | 1,329 | 1,702 |
Interest on federal funds sold and deposits with banks | |||||||||
3,207 | 1,393 | 379 | 217 | 79 | 111 | 109 | 246 | 129 | 48 |
Total interest income | |||||||||
79,540 | 61,874 | 48,655 | 42,202 | 39,410 | 38,132 | 36,784 | 37,746 | 41,309 | 41,684 |
Interest expense: | |||||||||
Interest on deposits | |||||||||
18,687 | 11,071 | 6,478 | 5,418 | 4,744 | 4,746 | 5,032 | 6,483 | 7,878 | 9,600 |
Interest on borrowings | |||||||||
3,968 | 2,700 | 1,802 | 1,346 | 1,068 | 833 | 763 | 941 | 1,353 | 1,750 |
Total interest expense | |||||||||
22,655 | 13,771 | 8,280 | 6,764 | 5,812 | 5,579 | 5,795 | 7,424 | 9,231 | 11,350 |
Net interest income | |||||||||
56,885 | 48,103 | 40,375 | 35,438 | 33,598 | 32,553 | 30,989 | 30,322 | 32,078 | 30,334 |
Provision for loan losses | |||||||||
2,700 | 1,800 | 2,500 | 1,462 | 3,040 | 3,250 | 2,700 | 7,300 | 10,450 | 9,001 |
Net interest income after provision for loan losses | |||||||||
54,185 | 46,303 | 37,875 | 33,976 | 30,558 | 29,303 | 28,289 | 23,022 | 21,628 | 21,333 |
Non-interest income | |||||||||
Gain on sale of SBA loans | |||||||||
116 | 378 | 477 | 1,819 | 4,147 | 5,040 | 2,225 | 3,582 | 4,439 | 1,789 |
Other loan fees | |||||||||
982 | 1,121 | 654 | - | - | - | - | - | - | - |
Gain on sale of SBA related assets | |||||||||
- | - | - | 7,611 | 0 | 178 | 251 | 0 | - | - |
Loan fees | |||||||||
- | - | - | 777 | 1,387 | 1,071 | 702 | 394 | 220 | 301 |
Bank Owned Life Insurance Income | |||||||||
601 | 613 | 652 | 722 | 357 | 359 | 363 | 202 | 179 | 178 |
Service fees on deposit accounts | |||||||||
1,921 | 1,482 | 416 | - | - | - | - | - | - | - |
Service fees on deposit accounts | |||||||||
- | - | - | 315 | 290 | 269 | 268 | 220 | 221 | 252 |
Other than temporary impairment losses | |||||||||
- | - | - | - | - | - | 955 | 0 | 132 | 124 |
Portion of loss recognized in other comprehensive income (OCI) (before taxes) | |||||||||
- | - | - | - | - | - | - | 0 | -3 | 0 |
Net impairment losses recognized in earnings | |||||||||
- | - | - | - | - | - | - | 0 | 129 | 124 |
Gains (Losses) on Sales of Other Real Estate | |||||||||
-246 | -690 | -1,421 | -1,830 | -2,019 | -596 | -662 | -999 | -557 | -1,272 |
Realized loss on sale of AFS securities | |||||||||
- | - | - | 0 | 0 | - | - | - | - | - |
Other | |||||||||
465 | 503 | 867 | 876 | 918 | 1,310 | 1,234 | 969 | 352 | 281 |
Total non-interest income | |||||||||
3,839 | 3,407 | 1,645 | 10,290 | 5,080 | 7,631 | 3,426 | 4,368 | 4,725 | 2,709 |
Non-interest expense | |||||||||
Compensation and benefits | |||||||||
9,188 | 8,251 | 7,362 | 7,322 | 7,717 | 7,306 | 6,733 | 5,866 | 5,638 | 5,250 |
Professional services | |||||||||
1,946 | 1,419 | 1,573 | 1,639 | 1,657 | 1,456 | 1,646 | 1,746 | 1,235 | 1,160 |
Occupancy and equipment | |||||||||
1,793 | 1,675 | 1,443 | 1,314 | 1,273 | 1,165 | 1,087 | 1,043 | 1,006 | 937 |
Data processing | |||||||||
1,046 | 835 | 736 | 633 | 510 | 484 | 482 | 410 | 405 | 344 |
FDIC insurance and other assessments | |||||||||
56 | 420 | 296 | 584 | 682 | 858 | 1,127 | 1,094 | 985 | 873 |
OREO expense | |||||||||
415 | 611 | 625 | 1,040 | 1,642 | 3,883 | 4,563 | 1,529 | 642 | - |
OREO expense | |||||||||
- | - | - | - | - | - | - | - | - | 622 |
Other operating expense | |||||||||
3,508 | 3,084 | 3,258 | 4,096 | 3,371 | 3,759 | 3,214 | 3,391 | 2,714 | 2,464 |
Total non-interest expense | |||||||||
17,952 | 16,295 | 15,293 | 16,628 | 16,852 | 18,911 | 18,852 | 15,079 | 12,625 | 11,650 |
Income before income tax expense | |||||||||
40,072 | 33,415 | 24,227 | 27,638 | 18,786 | 18,023 | 12,863 | 12,311 | 13,728 | 12,392 |
Income tax expense | |||||||||
9,800 | 8,400 | 12,389 | 8,695 | 6,843 | 5,711 | 3,625 | 4,242 | 5,524 | 4,895 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | |||||||||
30,287 | 25,038 | 11,838 | 18,943 | 11,943 | 12,312 | 9,238 | 8,069 | 8,204 | 7,497 |
Less: Net income attributable to noncontrolling interest | |||||||||
446 | 214 | 32 | 433 | 1,246 | 1,839 | 1,667 | 756 | 932 | 157 |
Net Income (Loss) Attributable to Parent | |||||||||
29,841 | 24,824 | 11,870 | 18,510 | 10,697 | 10,473 | 7,571 | 7,313 | 7,272 | 7,340 |
Discount on retirement of preferred shares | |||||||||
- | - | - | - | - | - | 1,948 | 0 | - | - |
Less: Preferred stock dividend | |||||||||
24 | 446 | 1,119 | 1,200 | 1,200 | 1,200 | 1,058 | 1,012 | 1,000 | 988 |
Net income available to common shareholders | |||||||||
29,817 | 24,378 | 10,751 | 17,310 | 9,497 | 9,273 | 8,461 | 6,301 | 6,272 | 6,352 |
Earnings per common share | |||||||||
Earnings Per Share, Basic | |||||||||
2.52 | 2.30 | 1.28 | 2.31 | 1.30 | 1.55 | 1.42 | 1.06 | 1.17 | 1.31 |
Earnings Per Share, Diluted | |||||||||
2.48 | 2.07 | 1.13 | 1.92 | 1.12 | 1.32 | 1.42 | 1.06 | 1.15 | 1.27 |
Weighted average common shares outstanding | |||||||||
Weighted Average Number of Shares Outstanding, Basic | |||||||||
11,838 | 10,592 | 8,423 | 7,507 | 7,309 | 5,991 | 5,964 | 5,920 | 5,374 | 4,866 |
Weighted Average Number of Shares Outstanding, Diluted | |||||||||
12,011 | 12,002 | 10,515 | 9,622 | 9,568 | 7,924 | 5,965 | 5,924 | 5,466 | 4,986 |