| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
INTEREST INCOME | |||||||||
Loans receivable, including fees | |||||||||
75,537 | 51,359 | 32,953 | 26,862 | 21,497 | 19,512 | 18,007 | 17,646 | 18,798 | 19,057 |
Securities: | |||||||||
Taxable | |||||||||
5,466 | 3,507 | 1,437 | 1,443 | 1,239 | 854 | 603 | 1,148 | 1,314 | 1,796 |
Tax-exempt | |||||||||
1,048 | 1,744 | 1,274 | 832 | 899 | 923 | 1,016 | 1,138 | 1,168 | 1,110 |
Federal funds sold | |||||||||
- | - | - | - | - | - | - | - | 4 | 22 |
Interest bearing deposits | |||||||||
258 | 99 | 35 | 23 | 9 | 11 | 16 | 35 | 56 | 43 |
Total Interest Income | |||||||||
82,309 | 56,709 | 35,699 | 29,160 | 23,644 | 21,300 | 19,642 | 19,967 | 21,340 | 22,028 |
INTEREST EXPENSE | |||||||||
Deposits | |||||||||
17,595 | 8,078 | 3,584 | 2,449 | 1,772 | 1,648 | 1,827 | 2,494 | 3,141 | 3,995 |
Borrowings | |||||||||
4,388 | 3,288 | - | - | - | - | - | - | - | - |
Borrowings | |||||||||
- | - | 1,749 | 1,922 | 1,576 | 1,434 | 1,157 | 1,065 | 1,064 | 1,393 |
Subordinated debentures | |||||||||
- | - | - | 391 | 220 | - | - | - | - | - |
Subordinated debentures | |||||||||
1,266 | 1,263 | 1,278 | - | - | 212 | 217 | 241 | 222 | 225 |
Total Interest Expense | |||||||||
23,249 | 12,629 | 6,611 | 4,762 | 3,568 | 3,294 | 3,201 | 3,800 | 4,427 | 5,613 |
Net Interest Income | |||||||||
59,060 | 44,080 | 29,088 | 24,398 | 20,076 | 18,006 | 16,441 | 16,167 | 16,913 | 16,415 |
PROVISION FOR LOAN LOSSES | |||||||||
2,531 | 1,437 | 1,586 | 1,291 | 636 | 1,537 | 2,745 | 4,330 | 3,306 | 3,280 |
Net Interest Income after Provision for Loan Losses | |||||||||
56,529 | 42,643 | 27,502 | 23,107 | 19,440 | 16,469 | 13,696 | 11,837 | 13,607 | 13,135 |
NON -INTEREST INCOME | |||||||||
Service fees on deposit accounts | |||||||||
- | - | 1,123 | 975 | 906 | 1,047 | 1,135 | 1,141 | 1,290 | 1,406 |
ATM and debit card fees | |||||||||
- | - | 777 | 767 | 776 | 726 | 699 | 627 | 545 | 501 |
Bank-owned life insurance | |||||||||
931 | 761 | 522 | 308 | 313 | 322 | 353 | 394 | 419 | 313 |
Insurance commissions and fees | |||||||||
- | - | 5,326 | 4,796 | 3,686 | 3,139 | 2,902 | 2,484 | 2,270 | 2,071 |
Investment brokerage fees | |||||||||
134 | 104 | 24 | 75 | 130 | 108 | 170 | 145 | 145 | 166 |
Net gain on sales of securities | |||||||||
2,055 | 36 | - | - | - | - | - | - | - | - |
Net gain on sale of loans, held for sale | |||||||||
- | - | - | - | - | - | - | 47 | - | - |
Net gain (loss) on sales of securities | |||||||||
- | - | -9 | 444 | 271 | 289 | 393 | 1,799 | 645 | - |
Net (loss) gain on disposal of premises and equipment | |||||||||
-334 | 9 | 7 | -19 | -130 | -5 | - | - | - | - |
Realized holding gains on trading securities | |||||||||
- | - | - | - | - | - | - | - | - | 7 |
Gain on sale of securities, available for sale | |||||||||
- | - | - | - | - | - | - | - | - | 52 |
Net (loss) gain on sale of premises and equipment | |||||||||
- | - | - | - | - | - | 1 | -9 | - | 2 |
Net gain (loss) on sale of foreclosed real estate | |||||||||
- | - | - | - | - | - | - | - | -38 | 18 |
Impairment write-downs on equity securities | |||||||||
- | - | - | - | - | - | - | - | 231 | 171 |
Other | |||||||||
- | - | 515 | 483 | 501 | 335 | 440 | 373 | 238 | 246 |
Total Non-Interest Income | |||||||||
14,345 | 10,749 | 8,285 | 7,829 | 6,453 | 5,961 | 6,093 | 7,001 | 5,283 | 4,611 |
NON-INTEREST EXPENSES | |||||||||
Salaries and employee benefits | |||||||||
24,934 | 20,710 | 14,773 | 13,078 | 11,506 | 10,079 | 9,324 | 8,987 | 8,528 | 7,783 |
Occupancy, net | |||||||||
3,383 | 2,776 | 1,880 | 1,859 | 1,751 | 1,624 | 1,464 | 1,450 | 1,412 | 1,345 |
Data processing | |||||||||
3,992 | 3,351 | 2,173 | 2,108 | 1,653 | 1,714 | 1,276 | 1,249 | - | - |
Furniture and equipment | |||||||||
1,345 | 1,194 | 938 | 993 | 865 | 729 | 587 | 630 | 1,177 | 1,234 |
Advertising and promotion | |||||||||
545 | 587 | 308 | 311 | 326 | 281 | 260 | 285 | 172 | 178 |
Professional fees | |||||||||
1,687 | 1,412 | 1,173 | 788 | 654 | 737 | 748 | 677 | 661 | 607 |
Director fees | |||||||||
637 | 550 | 399 | 450 | 544 | 475 | 455 | 321 | 176 | 265 |
FDIC assessment | |||||||||
706 | 529 | 263 | 508 | 446 | 607 | 698 | 681 | 700 | 911 |
Insurance | |||||||||
126 | 210 | 279 | 280 | 271 | 288 | 270 | 240 | 216 | 222 |
Stationary and supplies | |||||||||
331 | 285 | 148 | 191 | 197 | 221 | 191 | 176 | 184 | 194 |
Merger-related expenses | |||||||||
- | - | - | 0 | - | - | - | - | - | - |
Merger-related expenses | |||||||||
- | 5,804 | 1,187 | - | - | - | - | - | - | - |
Loan collection costs | |||||||||
276 | 255 | 122 | 140 | 207 | 380 | 347 | 713 | 824 | - |
Loan collection costs | |||||||||
- | - | - | - | - | - | - | - | - | 502 |
Write-down on foreclosed assets | |||||||||
- | - | - | - | - | - | - | - | - | 241 |
Net expenses and write-downs related to foreclosed real estate | |||||||||
286 | 324 | 283 | 458 | 535 | 432 | 1,538 | 2,085 | 414 | 270 |
Amortization of intangible assets | |||||||||
406 | 247 | 0 | - | - | - | 1 | 5 | 10 | 14 |
Other | |||||||||
2,581 | 2,176 | 1,691 | 1,421 | 1,598 | 1,262 | 1,069 | 933 | 1,309 | 1,262 |
Total Non-Interest Expenses | |||||||||
41,235 | 40,410 | 25,617 | 22,585 | 20,553 | 18,829 | 18,228 | 18,432 | 15,783 | 15,028 |
Income before Income Taxes | |||||||||
29,639 | 12,982 | 10,170 | 8,351 | 5,340 | 3,601 | 1,561 | 406 | 3,107 | 2,718 |
EXPENSE FOR INCOME TAXES | |||||||||
7,096 | 3,059 | 4,479 | 2,828 | 1,640 | 1,001 | 133 | -329 | 637 | 542 |
Net Income | |||||||||
22,543 | 9,923 | 5,691 | 5,523 | 3,700 | 2,600 | 1,428 | 735 | 2,470 | 2,176 |
OTHER COMPREHENSIVE INCOME: | |||||||||
Unrealized gain (loss) on available for sale securities arising during the period | |||||||||
4,614 | -1,966 | 1,682 | -950 | 134 | 4,155 | -3,785 | 1,193 | 1,534 | - |
Fair value adjustments on derivatives | |||||||||
- | - | - | 1,647 | 0 | - | - | - | - | - |
Fair value adjustments on derivatives | |||||||||
-4,538 | -116 | -196 | - | - | - | - | - | - | - |
Fair value adjustments on retirement benefits | |||||||||
- | 11 | 0 | - | - | - | - | - | - | - |
Reclassification adjustment for net (gain) on securities transactions included in net income | |||||||||
2,055 | 36 | -9 | 436 | 271 | 289 | 393 | 1,799 | - | - |
Income tax related to items of other comprehensive income | |||||||||
-636 | -553 | - | - | - | - | - | - | - | - |
Reclassification adjustment for gain on securities transactions included in net income, Before Tax | |||||||||
- | - | - | - | - | - | - | - | -414 | - |
Other Comprehensive Income (Loss), Tax | |||||||||
- | - | 598 | 104 | -54 | 1,546 | -1,671 | -243 | 448 | - |
Other comprehensive (loss), net of income taxes | |||||||||
-1,343 | -1,554 | 897 | 157 | -83 | 2,320 | -2,507 | -363 | 672 | - |
Comprehensive income | |||||||||
21,200 | 8,369 | 6,588 | 5,680 | 3,617 | 4,920 | -1,079 | 372 | 3,142 | - |
EARNINGS PER SHARE | |||||||||
Basic (in dollars per share) | |||||||||
2.41 | 1.26 | 1.06 | 1.20 | 0.81 | 0.57 | 0.38 | 0.23 | 0.76 | 0.67 |
Diluted (in dollars per share) | |||||||||
2.40 | 1.25 | 1.05 | 1.19 | 0.81 | 0.57 | 0.37 | 0.22 | 0.74 | 0.66 |
Service fees on deposit accounts | |||||||||
Revenue from contract with customer | |||||||||
1,403 | 1,290 | - | - | - | - | - | - | - | - |
ATM and debit card fees | |||||||||
Revenue from contract with customer | |||||||||
1,075 | 983 | - | - | - | - | - | - | - | - |
Insurance commissions and fees | |||||||||
Revenue from contract with customer | |||||||||
8,017 | 6,640 | - | - | - | - | - | - | - | - |
Other | |||||||||
Revenue from contract with customer | |||||||||
1,064 | 926 | - | - | - | - | - | - | - | - |