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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Interest and Dividend Income      
Interest and fees on loans $ 31,270 $ 24,391 $ 22,879
Interest on investment securities 982 544 473
Dividends on investment securities 383 353 287
Other interest income 214 120 102
Total interest and dividend income 32,849 25,408 23,741
Interest Expense      
Interest on deposits 4,948 2,242 2,016
Interest on Federal Home Loan Bank borrowings 702 371 368
Interest on senior debt 915 25
Interest on subordinated debt 360 334 294
Interest on note payable 31 36 12
Total interest expense 6,956 3,008 2,690
Net interest income 25,893 22,400 21,051
(Credit) Provision for Loan Losses (857) 2,464 250
Net interest income after (credit) provision for loan losses 26,750 19,936 20,801
Non-interest Income      
Loan application, inspection and processing fees 73 180 185
Deposit fees and service charges 590 600 612
Rental Income 399 414 402
Other income 382 362 352
Total non-interest income 1,444 1,556 1,551
Non-interest Expense      
Salaries and benefits 10,915 9,489 9,247
Occupancy and equipment expense 3,133 3,110 3,462
Data processing expense 1,139 939 1,226
Professional and other outside services 2,050 1,747 1,656
Merger/tax initiative project expenses 640
Advertising and promotional expense 322 394 591
Loan administration and processing expense 63 54 50
Regulatory assessments 844 603 603
Insurance expense 233 222 304
Material and communications 381 402 427
Other operating expense 1,452 1,395 1,285
Total non-interest expense 21,172 18,355 18,851
Income before income taxes 7,022 3,137 3,501
Provision for Income Taxes 2,875 1,207 1,358
Net income $ 4,147 $ 1,930 $ 2,143
Basic earnings per share (in dollars per share) $ 1.06 $ 0.49 $ 0.55
Diluted earnings per share (in dollars per share) $ 1.06 $ 0.49 $ 0.55