XML 15 R4.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Earnings (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Loans:    
Taxable $ 6,435 $ 5,350
Tax-exempt 26 29
Investment securities:    
Taxable 1,493 1,197
Tax-exempt 930 1,025
Total interest income 8,884 7,601
Interest expense:    
Deposits 1,331 541
Borrowings 357 466
Total interest expense 1,688 1,007
Net interest income 7,196 6,594
Provision for loan losses 200 200
Net interest income after provision for loan losses 6,996 6,394
Non-interest income:    
Fees and service charges 1,689 1,756
Gains on sales of loans, net [1] 1,120 1,161
Bank owned life insurance [1] 159 159
Gains on sales of investment securities, net   35
Other 288 290
Total non-interest income 3,256 3,401
Non-interest expense:    
Compensation and benefits 4,143 3,789
Occupancy and equipment 1,062 1,078
Data processing 414 365
Amortization of intangibles 264 277
Professional fees 396 388
Advertising 166 167
Federal deposit insurance premiums 68 72
Foreclosure and real estate owned expense 41 13
Other 1,174 1,291
Total non-interest expense 7,728 7,440
Earnings before income taxes 2,524 2,355
Income tax expense 341 256
Net earnings $ 2,183 $ 2,099
Earnings per share:    
Basic [2] $ 0.50 $ 0.49
Diluted [2] 0.50 0.48
Dividends per share [2] $ 0.20 $ 0.19
[1] Not within the scope of ASC 606.
[2] Per share amounts for the period ended March 31, 2018 have been adjusted to give effect to the 5% stock dividend paid during December 2018.