Consolidated Statements of Income - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
| Interest Income |
|
|
|
| Loans |
$ 37,049
|
$ 27,875
|
$ 20,843
|
| Securities – taxable |
3,728
|
3,036
|
2,891
|
| Securities – non-taxable |
312
|
58
|
1,611
|
| Other earning assets |
358
|
246
|
191
|
| Total interest income |
41,447
|
31,215
|
25,536
|
| Interest Expense |
|
|
|
| Deposits |
8,755
|
7,653
|
6,861
|
| Other borrowed funds |
1,939
|
1,275
|
1,227
|
| Total interest expense |
10,694
|
8,928
|
8,088
|
| Net Interest Income |
30,753
|
22,287
|
17,448
|
| Provision for Loan Losses |
1,946
|
349
|
324
|
| Net Interest Income After Provision for Loan Losses |
28,807
|
21,938
|
17,124
|
| Noninterest Income |
|
|
|
| Service charges and fees |
764
|
707
|
687
|
| Mortgage banking activities |
9,000
|
5,609
|
8,682
|
| Other-than-temporary impairment |
|
|
|
| Total loss related to other than temporarily impaired securities |
0
|
0
|
(129)
|
| Portion of loss recognized in other comprehensive income (loss) |
0
|
0
|
80
|
| Other-than-temporary impairment loss recognized in net income |
0
|
0
|
(49)
|
| Gain (loss) on sale of securities |
0
|
538
|
(63)
|
| Loss on asset disposals |
(34)
|
(78)
|
(146)
|
| Other |
411
|
398
|
406
|
| Total noninterest income |
10,141
|
7,174
|
9,517
|
| Noninterest Expense |
|
|
|
| Salaries and employee benefits |
14,271
|
12,348
|
10,250
|
| Marketing, advertising, and promotion |
1,756
|
1,455
|
1,858
|
| Consulting and professional fees |
2,374
|
1,902
|
2,152
|
| Data processing |
1,016
|
995
|
911
|
| Loan expenses |
631
|
626
|
799
|
| Premises and equipment |
2,768
|
2,937
|
2,196
|
| Deposit insurance premium |
643
|
591
|
451
|
| Other |
1,824
|
1,808
|
1,865
|
| Total noninterest expense |
25,283
|
22,662
|
20,482
|
| Income Before Income Taxes |
13,665
|
6,450
|
6,159
|
| Income Tax Provision |
4,736
|
2,126
|
1,566
|
| Net Income |
$ 8,929
|
$ 4,324
|
$ 4,593
|
| Income Per Share of Common Stock (in dollars per share) |
|
|
|
| Basic (in dollars per share) |
$ 1.97
|
$ 0.96
|
$ 1.51
|
| Diluted (in dollars per share) |
$ 1.96
|
$ 0.96
|
$ 1.51
|
| Weighted-Average Number of Common Shares Outstanding |
|
|
|
| Basic (shares) |
4,528,528
|
4,497,007
|
3,041,666
|
| Diluted (shares) |
4,554,219
|
4,507,995
|
3,050,001
|
| Dividends Declared Per Share (in dollars per share) |
$ 0.24
|
$ 0.24
|
$ 0.22
|