Consolidated Statements of Income - USD ($) $ in Thousands |
3 Months Ended |
9 Months Ended |
Sep. 30, 2017 |
Sep. 30, 2016 |
Sep. 30, 2017 |
Sep. 30, 2016 |
| Interest Income: |
|
|
|
|
| Interest and fees on loans |
$ 9,994
|
$ 5,218
|
$ 29,089
|
$ 15,377
|
| Interest and dividends on investment securities: Taxable |
721
|
716
|
2,175
|
2,150
|
| Interest and dividends on investment securities: Exempt from federal taxes |
236
|
316
|
714
|
944
|
| Interest on cash and cash equivalents |
38
|
27
|
166
|
91
|
| Total interest and dividend income |
10,989
|
6,277
|
32,144
|
18,562
|
| Interest Expense: |
|
|
|
|
| Interest on NOW, money market and savings |
606
|
230
|
1,678
|
588
|
| Interest on time deposits |
307
|
139
|
921
|
396
|
| Interest on brokered deposits |
160
|
81
|
346
|
214
|
| Interest on FHLB advances |
185
|
92
|
522
|
276
|
| Interest on repurchase agreements |
8
|
9
|
21
|
30
|
| Interest on junior subordinated debentures |
99
|
89
|
286
|
254
|
| Interest on subordinated debt |
104
|
104
|
311
|
311
|
| Interest on other borrowings |
14
|
16
|
42
|
49
|
| Total interest expense |
1,483
|
760
|
4,127
|
2,118
|
| Net interest income |
9,506
|
5,517
|
28,017
|
16,444
|
| Provision for credit losses |
375
|
100
|
1,285
|
630
|
| Net interest income after provision for credit losses |
9,131
|
5,417
|
26,732
|
15,814
|
| Non-interest Income: |
|
|
|
|
| Service charges |
282
|
280
|
936
|
827
|
| Wealth management |
411
|
393
|
1,256
|
1,231
|
| Mortgage banking |
62
|
76
|
112
|
189
|
| Increase in cash surrender value of BOLI |
55
|
56
|
165
|
166
|
| Gains on sale of investment securities, net |
|
197
|
25
|
431
|
| Gain on sale of loans |
35
|
|
132
|
39
|
| Gains from insurance proceeds |
|
30
|
80
|
1,180
|
| Other fees |
426
|
337
|
1,293
|
1,022
|
| Total non-interest income |
1,271
|
1,369
|
3,999
|
5,085
|
| Non-interest Expense: |
|
|
|
|
| Salaries and employee benefits |
3,926
|
2,817
|
11,291
|
8,636
|
| Furniture and equipment |
525
|
422
|
1,526
|
1,093
|
| Occupancy |
631
|
524
|
2,006
|
1,459
|
| Professional and consulting |
485
|
306
|
1,334
|
948
|
| Advertising and marketing |
135
|
111
|
575
|
460
|
| Printing and supplies |
47
|
36
|
183
|
129
|
| FDIC insurance |
161
|
73
|
506
|
323
|
| PA shares tax |
219
|
157
|
677
|
476
|
| Telecommunications |
87
|
63
|
265
|
185
|
| Postage |
21
|
28
|
83
|
70
|
| Loss on sale or write down of OREO, net |
7
|
160
|
121
|
164
|
| Due diligence and merger expense |
|
1,498
|
77
|
1,961
|
| Other expenses |
746
|
509
|
2,175
|
1,390
|
| Total non-interest expense |
6,990
|
6,704
|
20,819
|
17,294
|
| Income before income tax expense |
3,412
|
82
|
9,912
|
3,605
|
| Income tax expense |
1,001
|
81
|
2,774
|
939
|
| Net income |
$ 2,411
|
$ 1
|
$ 7,138
|
$ 2,666
|
| Earnings per common share: |
|
|
|
|
| Basic |
$ 0.57
|
$ 0.00
|
$ 1.68
|
$ 0.94
|
| Diluted |
0.56
|
0.00
|
1.66
|
0.93
|
| Cash dividends per common share |
$ 0.07
|
$ 0.07
|
$ 0.21
|
$ 0.21
|
| Weighted average common shares outstanding: |
|
|
|
|
| Basic |
4,262,165
|
2,853,080
|
4,255,520
|
2,844,780
|
| Diluted |
4,296,371
|
2,885,799
|
4,287,745
|
2,879,240
|