XML 17 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statement of Income (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
INTEREST AND DIVIDEND INCOME    
Interest and fees on loans $ 9,180,000 $ 6,173,000
Interest-bearing deposits in other institutions 49,000 12,000
Federal funds sold 3,000 4,000
Investment securities:    
Taxable interest 218,000 340,000
Tax-exempt interest 637,000 790,000
Dividends on stock 112,000 29,000
Total interest and dividend income 10,199,000 7,348,000
INTEREST EXPENSE    
Deposits 1,125,000 855,000
Short-term borrowings 177,000 120,000
Other borrowings 83,000 17,000
Trust preferred securities 57,000 33,000
Total interest expense 1,442,000 1,025,000
NET INTEREST INCOME 8,757,000 6,323,000
Provision for loan losses 165,000 105,000
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 8,592,000 6,218,000
NONINTEREST INCOME    
Service charges on deposit accounts 469,000 447,000
Investment securities gains, net 488,000 51,000
Earnings on bank-owned life insurance 109,000 99,000
Gain on sale of loans 234,000 87,000
Other income 211,000 225,000
Total noninterest income 1,511,000 909,000
NONINTEREST EXPENSE    
Salaries and employee benefits 3,696,000 2,780,000
Occupancy expense 488,000 335,000
Equipment expense 281,000 269,000
Data processing costs 484,000 272,000
Ohio state franchise tax 186,000 100,000
Federal deposit insurance expense 68,000 132,000
Professional fees 596,000 292,000
(Gain) loss on other real estate owned (78,000) 12,000
Advertising expense 248,000 195,000
Other real estate expense 133,000 46,000
Directors fees 112,000 107,000
Core deposit intangible amortization 72,000 40,000
Appraiser fees 102,000 101,000
ATM fees 76,000 96,000
Other expense 803,000 591,000
Total noninterest expense 7,267,000 5,338,000
Income before income taxes 2,836,000 1,789,000
Income taxes 736,000 302,000
NET INCOME $ 2,100,000 $ 1,487,000
EARNINGS PER SHARE    
Basic (in dollars per share) $ 0.78 $ 0.79
Diluted (in dollars per share) 0.78 0.79
DIVIDENDS DECLARED PER SHARE (in dollars per share) $ 0.27 $ 0.27
Core Deposits [Member]    
NONINTEREST EXPENSE    
Core deposit intangible amortization $ 72,000 $ 10,000