|
Consolidated Statements of Net Income (USD $) In Thousands, except Per Share data, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2013
|
Dec. 31, 2012
|
| Interest and dividend income |
|
|
| Loans receivable, including fees |
$ 16,594 |
$ 17,213 |
| Securities: |
|
|
| Taxable |
1,715 |
2,246 |
| Exempt from federal income tax |
1,157 |
1,153 |
| Federal bank stocks |
77 |
65 |
| Deposits with banks |
55 |
85 |
| Total interest and dividend income |
19,598 |
20,762 |
| Interest expense |
|
|
| Deposits |
2,873 |
4,045 |
| Short-term borrowed funds |
50 |
0 |
| Long-term borrowed funds |
754 |
931 |
| Total interest expense |
3,677 |
4,976 |
| Net interest income |
15,921 |
15,786 |
| Provision for loan losses |
580 |
2,154 |
| Net interest income after provision for loan losses |
15,341 |
13,632 |
| Noninterest income |
|
|
| Fees and service charges |
1,673 |
1,608 |
| Commissions on financial services |
198 |
466 |
| Title premiums |
77 |
67 |
| Other-than-temporary impairment losses on equity securities |
0 |
(103) |
| Net gain on sales of loans |
9 |
0 |
| Net gain on sales of available for sale securities |
340 |
1,360 |
| Earnings on bank-owned life insurance |
387 |
307 |
| Other |
1,176 |
1,188 |
| Total noninterest income |
3,860 |
4,893 |
| Noninterest expense |
|
|
| Compensation and employee benefits |
7,552 |
7,174 |
| Premises and equipment |
2,157 |
2,011 |
| Intangible asset amortization |
270 |
345 |
| Professional fees |
715 |
672 |
| Federal deposit insurance |
441 |
387 |
| Other |
3,345 |
3,348 |
| Total noninterest expense |
14,480 |
13,937 |
| Income before provision for income taxes |
4,721 |
4,588 |
| Provision for income taxes |
913 |
934 |
| Net income |
3,808 |
3,654 |
| Preferred stock dividends |
420 |
493 |
| Net income available to common stockholders |
$ 3,388 |
$ 3,161 |
| Earnings per common share |
|
|
| Basic (in dollars per share) |
$ 1.92 |
$ 1.80 |
| Diluted (in dollars per share) |
$ 1.91 |
$ 1.80 |