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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Interest and Dividend Income    
Interest and fees on loans $ 9,741 $ 8,774
Interest on investment securities 385 266
Dividends on investment securities 118 121
Other interest income 327 151
Total interest and dividend income 10,571 9,312
Interest Expense    
Interest on deposits 3,264 1,657
Interest on Federal Home Loan Bank borrowings 439 257
Interest on senior debt 229 229
Interest on subordinated debt 289 99
Interest on note payable and other 6 7
Total interest expense 4,227 2,249
Net interest income 6,344 7,063
Provision for Loan Losses 165 185
Net interest income after provision for loan losses 6,179 6,878
Non-interest Income    
Loan application, inspection and processing fees 14 8
Deposit fees and service charges 127 134
Gains on sales of loans 456
Rental Income 130 84
Other income 95 96
Total non-interest income 822 322
Non-interest Expense    
Salaries and benefits 3,184 2,769
Occupancy and equipment expense 917 741
Data processing expense 370 317
Professional and other outside services 771 572
Merger and tax initiative project expenses 80 523
Advertising and promotional expense 115 78
Loan administration and processing expense 14 13
Regulatory assessments 315 252
Insurance expense 41 55
Communications, stationary and supplies 134 113
Other operating expense 569 358
Total non-interest expense 6,510 5,791
Income before income taxes 491 1,409
Provision for Income Taxes 168 344
Net income $ 323 $ 1,065
Basic earnings per share (in dollars per share) $ 0.08 $ 0.27
Diluted earnings per share (in dollars per share) $ 0.08 $ 0.27