Consolidated Statements of Income - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
| INTEREST INCOME |
|
|
|
| Interest and fees on loans |
$ 50,018
|
$ 40,642
|
$ 31,949
|
| Interest on deposits with other banks |
322
|
274
|
223
|
| Interest on investment securities - taxable |
1,366
|
958
|
1,272
|
| Interest on tax exempt loans and securities |
2,417
|
2,226
|
2,724
|
| Total interest income |
54,123
|
44,100
|
36,168
|
| INTEREST EXPENSE |
|
|
|
| Interest on deposits |
7,748
|
6,246
|
5,563
|
| Interest on repurchase agreements |
72
|
83
|
291
|
| Interest on FHLB and other borrowings |
1,086
|
692
|
515
|
| Interest on subordinated debt |
2,226
|
2,204
|
1,142
|
| Total interest expense |
11,132
|
9,225
|
7,511
|
| NET INTEREST INCOME |
42,991
|
34,875
|
28,657
|
| Provision for loan losses |
3,632
|
2,493
|
2,582
|
| Net interest income after provision for loan losses |
39,359
|
32,382
|
26,075
|
| NONINTEREST INCOME |
|
|
|
| Service charges on deposit accounts |
764
|
646
|
677
|
| Income on bank owned life insurance |
638
|
653
|
588
|
| Visa debit card and interchange income |
1,185
|
987
|
778
|
| Mortgage fee income |
35,673
|
29,472
|
17,557
|
| Gain on sale of portfolio loans |
1,042
|
1,413
|
1,550
|
| Insurance and investment services income |
420
|
338
|
328
|
| Gain on sale of securities |
1,082
|
130
|
413
|
| Gain (loss) on derivatives |
1,467
|
675
|
(2)
|
| Other operating income |
934
|
641
|
133
|
| Total noninterest income |
43,205
|
34,955
|
22,022
|
| NONINTEREST EXPENSES |
|
|
|
| Salary and employee benefits |
45,225
|
36,073
|
27,774
|
| Occupancy expense |
3,686
|
3,390
|
2,704
|
| Equipment depreciation and maintenance |
2,452
|
2,013
|
1,479
|
| Data processing and communications |
4,964
|
4,010
|
2,768
|
| Mortgage processing |
3,355
|
3,158
|
2,514
|
| Marketing, contributions and sponsorships |
1,253
|
1,352
|
1,137
|
| Professional fees |
2,720
|
3,232
|
2,237
|
| Printing, postage and supplies |
767
|
762
|
709
|
| Insurance, tax and assessment expense |
1,528
|
1,394
|
1,478
|
| Travel, entertainment, dues and subscriptions |
1,725
|
1,579
|
1,299
|
| Other operating expenses |
1,534
|
885
|
1,095
|
| Total noninterest expense |
69,209
|
57,848
|
45,194
|
| Income from continuing operations, before income taxes |
13,355
|
9,489
|
2,903
|
| Income tax expense - continuing operations |
4,378
|
2,886
|
248
|
| Net Income from continuing operations |
8,977
|
6,603
|
2,655
|
| Income (loss) from discontinued operations, before income taxes |
6,346
|
353
|
(920)
|
| Income tax expense (benefit) - discontinued operations |
2,411
|
140
|
(344)
|
| Net Income (loss) from discontinued operations |
3,935
|
213
|
(576)
|
| Net Income |
12,912
|
6,816
|
2,079
|
| Preferred dividends |
1,128
|
575
|
332
|
| Net Income available to common shareholders |
$ 11,784
|
$ 6,241
|
$ 1,747
|
| Earnings per share from continuing operations - basic (in dollars per share) |
$ 0.96
|
$ 0.75
|
$ 0.29
|
| Earnings per share from discontinued operations - basic (in dollars per share) |
0.48
|
0.03
|
(0.07)
|
| Earnings per common shareholder - basic (in dollars per share) |
1.44
|
0.78
|
0.22
|
| Earnings per share from continuing operations - diluted (in dollars per share) |
0.92
|
0.74
|
0.29
|
| Earnings per share from discontinued operations - diluted (in dollars per share) |
0.39
|
0.03
|
(0.07)
|
| Earnings per common shareholder - diluted (in dollars per share) |
1.31
|
0.77
|
0.22
|
| Cash dividends declared (in dollars per share) |
$ 0.08
|
$ 0.08
|
$ 0.08
|
| Weighted average shares outstanding - basic (in shares) |
8,212,021
|
8,014,316
|
7,905,468
|
| Weighted average shares outstanding - diluted (in shares) |
10,068,733
|
8,140,116
|
8,102,117
|