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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest and Dividend Income        
Interest and fees on loans $ 7,591,000 $ 5,783,000 $ 14,198,000 $ 11,623,000
Interest on investment securities 242,000 132,000 413,000 274,000
Dividends on investment securities 93,000 90,000 175,000 176,000
Other interest income 19,000 28,000 83,000 69,000
Total interest and dividend income 7,945,000 6,033,000 14,869,000 12,142,000
Interest Expense        
Interest on deposits 1,129,000 496,000 2,118,000 969,000
Interest on Federal Home Loan Bank borrowings 183,000 64,000 261,000 185,000
Interest on senior debt 228,000 0 457,000
Interest on subordinated debt 89,000 83,000 174,000 165,000
Interest on note payable 8,000 8,000 17,000 16,000
Total interest expense 1,637,000 651,000 3,027,000 1,335,000
Net interest income 6,308,000 5,382,000 11,842,000 10,807,000
Provision (Credit) for Loan Losses 260,000 1,959,000 (1,489,000) 1,959,000
Net interest income after provision (credit) for loan losses 6,048,000 3,423,000 13,331,000 8,848,000
Non-interest Income        
Loan application, inspection and processing fees 15,000 21,000 36,000 88,000
Deposit fees and service charges 146,000 150,000 295,000 301,000
Rental Income 91,000 104,000 185,000 207,000
Loss on sale of investment securities 0 0 (78,000) 0
Other income 97,000 90,000 188,000 179,000
Total non-interest income 349,000 365,000 626,000 775,000
Non-interest Expense        
Salaries and benefits 2,497,000 2,615,000 4,927,000 5,165,000
Occupancy and equipment expense 807,000 750,000 1,582,000 1,530,000
Data processing expense 326,000 241,000 446,000 526,000
Professional and other outside services 550,000 364,000 1,202,000 773,000
Advertising and promotional expense 111,000 96,000 185,000 213,000
Loan administration and processing expense 14,000 8,000 23,000 16,000
Regulatory assessments 163,000 147,000 342,000 294,000
Insurance expense 56,000 56,000 115,000 111,000
Material and communications 103,000 115,000 190,000 208,000
Other operating expense 387,000 344,000 696,000 664,000
Total non-interest expense 5,014,000 4,736,000 9,708,000 9,500,000
Income (loss) before income taxes 1,383,000 (948,000) 4,249,000 123,000
Expense (benefit) for Income Taxes 579,000 (366,000) 1,715,000 52,000
Net income (loss) $ 804,000 $ (582,000) $ 2,534,000 $ 71,000
Basic earnings per common share (in dollars per share) $ 0.21 $ (0.15) $ 0.65 $ 0.02
Diluted earnings per common share (in dollars per share) $ 0.21 $ (0.15) $ 0.65 $ 0.02