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Business Segments | 6 Months Ended
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Jun. 30, 2015
Business Segments [Abstract] |
Business Segments | Note 8 – Business Segments The Company has two reportable business segments: (i) a traditional full service community banking segment and, (ii) a mortgage loan origination business. The community banking business segment includes Bank of the James which provides loans, deposits, investments and insurance to retail and commercial customers throughout Region 2000 and other areas within Central Virginia. The mortgage segment provides a variety of mortgage loan products principally within Region 2000. Mortgage loans are originated and sold in the secondary market through purchase commitments from investors with servicing released. Because of the pre-arranged purchase commitments, there is minimal risk to the Company. Both of the Company’s reportable segments are service based. The mortgage business is a fee-based business while the Bank’s primary source of revenue is net interest income. The Bank also provides a referral network for the mortgage origination business. The mortgage business may also be in a position to refer its customers to the Bank for banking services when appropriate. Information about reportable business segments and reconciliation of such information to the consolidated financial statements for the three and six months ended June 30, 2015 and 2014 was as follows (dollars in thousands):
Business Segments |  |  |  |  |
| Community |  |  |  |
| Banking |  | Mortgage |  | Total
For the six months ended June 30, 2015 |  |  |  |  |
Net interest income | $ 8,520 |  | $ - |  | $ 8,520
Provision for loan losses | 157 |  | - |  | 157
Net interest income after provision for loan losses | 8,363 |  | - |  | 8,363
Noninterest income | 867 |  | 1,158 |  | 2,025
Noninterest expenses | 6,777 |  | 838 |  | 7,615
Income before income taxes | 2,453 |  | 320 |  | 2,773
Income tax expense | 780 |  | 109 |  | 889
Net income | $ 1,673 |  | $ 211 |  | $ 1,884
Total assets | $ 489,821 |  | $ 3,015 |  | $ 492,836
For the six months ended June 30, 2014 |  |  |  |  |
Net interest income | $ 7,977 |  | $ - |  | $ 7,977
Provision for loan losses | 55 |  | - |  | 55
Net interest income after provision for loan losses | 7,922 |  | - |  | 7,922
Noninterest income | 978 |  | 696 |  | 1,674
Noninterest expenses | 6,847 |  | 519 |  | 7,366
Income before income taxes | 2,053 |  | 177 |  | 2,230
Income tax expense | 635 |  | 47 |  | 682
Net income | $ 1,418 |  | $ 130 |  | $ 1,548
Total assets | $ 444,081 |  | $ 3,279 |  | $ 447,360
| Community |  |  |  |
| Banking |  | Mortgage |  | Total
For the three months ended June 30, 2015 |  |  |  |  |
Net interest income | $ 4,324 |  | $ - |  | $ 4,324
Provision for loan losses | 57 |  | - |  | 57
Net interest income after provision for loan losses | 4,267 |  | - |  | 4,267
Noninterest income | 454 |  | 624 |  | 1,078
Noninterest expenses | 3,484 |  | 451 |  | 3,935
Income before income taxes | 1,237 |  | 173 |  | 1,410
Income tax expense | 394 |  | 59 |  | 453
Net income (loss) | $ 843 |  | $ 114 |  | $ 957
Total assets | $ 489,821 |  | $ 3,015 |  | $ 492,836
For the three months ended June 30, 2014 |  |  |  |  |
Net interest income | $ 4,023 |  | $ - |  | $ 4,023
Provision for loan losses | - |  | - |  | -
Net interest income after provision for loan losses | 4,023 |  | - |  | 4,023
Noninterest income | 550 |  | 407 |  | 957
Noninterest expenses | 3,497 |  | 260 |  | 3,757
Income before income taxes | 1,076 |  | 147 |  | 1,223
Income tax expense | 343 |  | 37 |  | 380
Net income | $ 733 |  | $ 110 |  | $ 843
Total assets | $ 444,081 |  | $ 3,279 |  | $ 447,360

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 + Details
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