XML 14 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Income - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
INTEREST INCOME        
Loans receivable, including fees $ 7,925 $ 6,351 $ 15,731 $ 12,485
Securities 1,633 878 3,251 1,768
Other 24 5 35 7
Total Interest Income 9,582 7,234 19,017 14,260
INTEREST EXPENSE        
Deposits 797 580 1,563 1,161
Short-term borrowings 28 37 56 77
Other borrowings 101 223 244 453
Total interest expense 926 840 1,863 1,691
NET INTEREST INCOME 8,656 6,394 17,154 12,569
PROVISION FOR LOAN LOSSES 600 700 1,200 1,150
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 8,056 5,694 15,954 11,419
OTHER INCOME        
Service charges and fees 1,016 604 1,951 1,178
Income from fiduciary activities 128 114 235 216
Net realized gains on sales of securities 31 205 37 270
Gains on sale of loans, net 67 18 67 47
Gain on sale of deposits     209  
Earnings and proceeds on bank owned life insurance 275 166 530 333
Other 139 116 270 246
Total other income 1,656 1,223 3,299 2,290
OTHER EXPENSES        
Salaries and employee benefits 3,212 2,248 6,430 4,551
Occupancy, furniture & equipment, net 809 487 1,720 982
Data processing and related operations 324 255 668 526
Taxes, other than income 227 124 460 329
Professional fees 240 181 489 332
Federal Deposit Insurance Corporation insurance 91 117 186 231
Foreclosed real estate 152 432 724 462
Amortization of intangibles 39 23 80 47
Other 1,036 661 1,987 1,416
Total other expenses 6,130 4,528 12,744 8,876
INCOME BEFORE INCOME TAXES 3,582 2,389 6,509 4,833
INCOME TAX EXPENSE 858 511 1,409 1,079
NET INCOME $ 2,724 $ 1,878 $ 5,100 $ 3,754
BASIC EARNINGS PER SHARE $ 0.66 $ 0.51 $ 1.23 $ 1.02
DILUTED EARNINGS PER SHARE $ 0.65 $ 0.51 $ 1.22 $ 1.02