XML 55 R4.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statement of Income (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
INTEREST AND DIVIDEND INCOME    
Interest and fees on loans $ 12,078,000 $ 12,488,000
Interest-earning deposits in other institutions 94,000 187,000
Federal funds sold 21,000 7,000
Investment securities:    
Taxable interest 157,000 179,000
Tax-exempt interest 629,000 565,000
Dividends on stock 30,000 58,000
Total interest and dividend income 13,009,000 13,484,000
INTEREST EXPENSE    
Deposits 2,865,000 2,945,000
Short-term borrowings 35,000 213,000
Other borrowings 76,000 96,000
Total interest expense 2,976,000 3,254,000
NET INTEREST INCOME 10,033,000 10,230,000
Provision for loan losses 2,740,000 240,000
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 7,293,000 9,990,000
NONINTEREST INCOME    
(Loss) gain on equity securities [1] (160,000) 58,000
Earnings on bank-owned life insurance [1] 107,000 105,000
Gain on sale of loans [1] 114,000 59,000
Total noninterest income 1,074,000 1,132,000
NONINTEREST EXPENSE    
Salaries and employee benefits 3,524,000 4,124,000
Occupancy expense 550,000 553,000
Equipment expense 273,000 235,000
Data processing costs 666,000 465,000
Ohio state franchise tax 268,000 259,000
Federal deposit insurance expense 123,000 130,000
Professional fees 349,000 431,000
Advertising expense 209,000 203,000
Software amortization expense 141,000 145,000
Core deposit intangible amortization 83,000 85,000
Other expense 1,066,000 870,000
Total noninterest expense 7,252,000 7,500,000
Income before income taxes 1,115,000 3,622,000
Income taxes 74,000 611,000
NET INCOME $ 1,041,000 $ 3,011,000
EARNINGS PER SHARE    
Basic (in dollars per share) $ 0.16 $ 0.46
Diluted (in dollars per share) $ 0.16 $ 0.46
Deposit Account [Member]    
NONINTEREST INCOME    
Noninterest income revenue $ 553,000 $ 508,000
Financial Service, Other [Member]    
NONINTEREST INCOME    
Noninterest income revenue $ 460,000 $ 402,000
[1] Not within scope of ASC 606