Net income increased to $8.3 million, or $0.54 per share, compared to $4.2 million, or $0.27 per share, for the same period last year.

Net interest income increased by $9.3 million, or 79.6%, due to an increase in interest income offset by an increase in interest expense.

Total interest and dividend income increased by $11.7 million, or 91.2%, driven by growth in average balance of interest earning assets and an increase in yield.

Non-interest expense increased by $1.9 million, or 27.9% primarily from increases in other operating expense, goodwill impairment loss, and real estate owned expense.