XML 14 R4.htm IDEA: XBRL DOCUMENT v3.19.2
Consolidated Statements Of Income - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest Income        
Loans $ 6,816,000 $ 6,195,000 $ 13,470,000 $ 11,869,000
Securities        
US Government and agency obligations 184,000 186,000 369,000 384,000
Mortgage backed securities 56,000 66,000 117,000 134,000
Municipals - taxable 81,000 82,000 160,000 162,000
Municipals - tax exempt   1,000 2,000 3,000
Dividends 33,000 23,000 51,000 31,000
Other (Corporates) 24,000 24,000 47,000 47,000
Interest bearing deposits 74,000 56,000 165,000 91,000
Federal Funds sold 122,000 92,000 243,000 159,000
Total interest income 7,390,000 6,725,000 14,624,000 12,880,000
Deposits        
NOW, money market savings 362,000 231,000 668,000 423,000
Time Deposits 826,000 625,000 1,574,000 1,206,000
FHLB borrowings   16,000   17,000
Capital notes 50,000 50,000 100,000 100,000
Total interest expense 1,238,000 922,000 2,342,000 1,746,000
Net interest income 6,152,000 5,803,000 12,282,000 11,134,000
Provision for loan losses 116,000 315,000 326,000 337,000
Net interest income after provision for loan losses 6,036,000 5,488,000 11,956,000 10,797,000
Noninterest income        
Gain on sales of loans held for sale 1,075,000 873,000 1,766,000 1,493,000
Service charges, fees and commissions 461,000 465,000 900,000 929,000
Increase in cash value of life insurance 84,000 85,000 167,000 170,000
Other 39,000 18,000 45,000 35,000
Total noninterest income 1,659,000 1,441,000 2,878,000 2,627,000
Noninterest expenses        
Salaries and employee benefits 3,153,000 2,832,000 6,081,000 5,545,000
Occupancy 417,000 360,000 838,000 755,000
Equipment 536,000 398,000 994,000 777,000
Supplies 142,000 140,000 304,000 289,000
Professional, data processing, and other outside expense 859,000 837,000 1,674,000 1,652,000
Marketing 276,000 187,000 421,000 327,000
Credit expense 156,000 112,000 283,000 237,000
Other real estate expenses 1,000 86,000 140,000 126,000
FDIC insurance expense 94,000 99,000 188,000 200,000
Other 341,000 255,000 651,000 495,000
Total noninterest expenses 5,975,000 5,306,000 11,574,000 10,403,000
Income before income taxes 1,720,000 1,623,000 3,260,000 3,021,000
Income tax expense 343,000 323,000 649,000 598,000
Net Income $ 1,377,000 $ 1,300,000 $ 2,611,000 $ 2,423,000
Weighted average shares outstanding - basic 4,378,436 4,378,436 4,378,436 4,378,436
Weighted average shares outstanding- diluted 4,383,021 4,378,436 4,381,994 4,378,481
Earnings per common share - basic $ 0.31 $ 0.30 $ 0.60 $ 0.55
Earnings per common share - diluted $ 0.31 $ 0.30 $ 0.60 $ 0.55