Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands |
3 Months Ended |
9 Months Ended |
Sep. 30, 2016 |
Sep. 30, 2015 |
Sep. 30, 2016 |
Sep. 30, 2015 |
| Interest Income: |
|
|
|
|
| Interest and fees on loans |
$ 5,850
|
$ 5,325
|
$ 16,859
|
$ 15,415
|
| Interest on investment securities |
462
|
418
|
1,407
|
1,235
|
| Other |
68
|
50
|
191
|
114
|
| Total interest income |
6,380
|
5,793
|
18,457
|
16,764
|
| Interest Expense: |
|
|
|
|
| Interest on deposits |
135
|
134
|
397
|
383
|
| Interest on note payable |
31
|
51
|
108
|
106
|
| Interest on subordinated debenture |
|
|
|
219
|
| Interest on junior subordinated deferrable interest debentures |
87
|
77
|
255
|
227
|
| Other |
1
|
1
|
3
|
4
|
| Total interest expense |
254
|
263
|
763
|
939
|
| Net interest income before provision for loan losses |
6,126
|
5,530
|
17,694
|
15,825
|
| Provision for Loan Losses |
200
|
300
|
600
|
900
|
| Net interest income after provision for loan losses |
5,926
|
5,230
|
17,094
|
14,925
|
| Non-Interest Income: |
|
|
|
|
| Service charges |
1,027
|
1,013
|
2,992
|
2,958
|
| Gain on sale of loans |
505
|
617
|
1,397
|
1,591
|
| (Loss) gain on sale of investments |
|
(9)
|
(32)
|
21
|
| Other |
461
|
425
|
1,344
|
1,343
|
| Total non-interest income |
1,993
|
2,046
|
5,701
|
5,913
|
| Non-Interest Expenses: |
|
|
|
|
| Salaries and employee benefits |
2,547
|
2,584
|
7,713
|
7,728
|
| Occupancy and equipment |
779
|
702
|
2,163
|
2,082
|
| Other |
1,383
|
1,372
|
4,147
|
4,184
|
| Total non-interest expenses |
4,709
|
4,658
|
14,023
|
13,994
|
| Income before provision for income taxes |
3,210
|
2,618
|
8,772
|
6,844
|
| Provision for Income Taxes |
1,253
|
1,018
|
3,405
|
2,674
|
| Net income |
$ 1,957
|
$ 1,600
|
$ 5,367
|
$ 4,170
|
| Basic earnings per share (in dollars per share) |
$ 0.40
|
$ 0.33
|
$ 1.11
|
$ 0.87
|
| Diluted earnings per share (in dollars per share) |
$ 0.39
|
$ 0.32
|
$ 1.06
|
$ 0.82
|