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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Interest and Dividend Income    
Interest and fees on loans $ 8,774 $ 6,607
Interest on investment securities 266 171
Dividends on investment securities 121 82
Other interest income 151 64
Total interest and dividend income 9,312 6,924
Interest Expense    
Interest on deposits 1,657 989
Interest on Federal Home Loan Bank borrowings 257 78
Interest on senior debt 229 229
Interest on subordinated debt 99 85
Interest on note payable 7 9
Total interest expense 2,249 1,390
Net interest income 7,063 5,534
Provision (Credit) for Loan Losses 185 (1,749)
Net interest income after provision (credit) for loan losses 6,878 7,283
Non-interest Income    
Loan application, inspection and processing fees 8 21
Deposit fees and service charges 134 149
Rental Income 84 94
Loss on sale of investment securities (78)
Other income 96 91
Total non-interest income 322 277
Non-interest Expense    
Salaries and benefits 2,769 2,430
Occupancy and equipment expense 741 775
Data processing expense 317 120
Professional and other outside services 572 652
Merger and acquisation related expenses 523
Advertising and promotional expense 78 74
Loan administration and processing expense 13 9
Regulatory assessments 252 179
Insurance expense 55 59
Material and communications 113 87
Other operating expense 358 309
Total non-interest expense 5,791 4,694
Income before income taxes 1,409 2,866
Provision for Income Taxes 344 1,136
Net income $ 1,065 $ 1,730
Basic earnings per common share (in dollars per share) $ 0.27 $ 0.44
Diluted earnings per common share (in dollars per share) $ 0.27 $ 0.44