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Consolidated Statements Of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest Income        
Loans $ 5,007 $ 4,758 $ 9,985 $ 9,386
Securities        
US Government and agency obligations 125 143 264 283
Mortgage backed securities 68 18 120 28
Municipals - taxable 35 22 69 47
Municipals - taxable exempt 11 11 21 21
Dividends 27 29 33 34
Other (Corporates) 3 2 9 3
Interest bearing deposits 9 4 15 6
Federal Funds sold 8 4 12 9
Total interest income 5,293 4,991 10,528 9,817
Deposits        
NOW, money market savings 139 123 275 245
Time Deposits 411 391 811 723
Federal Funds purchased     4 1
FHLB borrowings   3   28
Capital notes   150 8 300
Total interest expense 550 667 1,098 1,297
Net interest income 4,743 4,324 9,430 8,520
Provision for loan losses 250 57 450 157
Net interest income after provision for loan losses 4,493 4,267 8,980 8,363
Noninterest income        
Gain on sales of loans held for sale, net 681 613 1,172 1,136
Service charges, fees and commissions 362 348 734 666
Increase in cash value of life insurance 65 68 130 136
Other 45 45 60 54
Gain on sales of available-for-sale securities, net 163 4 228 33
Total Non-interest income 1,316 1,078 2,324 2,025
Noninterest expenses        
Salaries and employee benefits 2,162 2,128 4,399 4,211
Occupancy 305 312 637 601
Equipment 314 304 633 603
Supplies 108 108 227 204
Professional, data processing, and other outside expense 701 560 1,363 1,046
Marketing 201 148 320 224
Credit expense 106 63 189 136
Other real estate expenses 4 32 5 37
FDIC insurance expense 91 79 183 153
Other 262 201 488 400
Total non-interest expenses 4,254 3,935 8,444 7,615
Income before income taxes 1,555 1,410 2,860 2,773
Income tax expense 504 453 922 889
Net Income $ 1,051 $ 957 $ 1,938 $ 1,884
Weighted average common shares outstanding - basic 4,378,436 3,371,616 4,378,436 3,371,616
Weighted average common shares outstanding- diluted 4,378,436 3,371,616 4,378,436 3,371,616
Earnings per common share - basic $ 0.24 $ 0.28 $ 0.44 $ 0.56
Earnings per common share - diluted $ 0.24 $ 0.28 $ 0.44 $ 0.56