Consolidated Statements of Operations - USD ($)
$ in Thousands |
3 Months Ended |
Mar. 31, 2016 |
Mar. 31, 2015 |
| Interest income |
|
|
| Loans |
$ 3,765
|
$ 3,624
|
| Investment securities |
120
|
155
|
| Federal funds sold |
13
|
18
|
| Total interest income |
3,898
|
3,797
|
| Interest expense |
|
|
| Deposits |
599
|
636
|
| Borrowed funds |
40
|
122
|
| Total interest expense |
639
|
758
|
| Net interest income |
3,259
|
3,039
|
| Provision for loan losses |
0
|
0
|
| Net interest income after provision for loan losses |
3,259
|
3,039
|
| Noninterest income |
|
|
| Service charges and fees |
536
|
592
|
| Gain on sale of loans |
1,146
|
1,229
|
| Gain on sale of investment securities, net |
109
|
7
|
| Rental income |
320
|
239
|
| Other |
85
|
103
|
| Total noninterest income |
2,196
|
2,170
|
| Noninterest expense |
|
|
| Salaries and benefits |
2,659
|
2,668
|
| Commissions |
249
|
292
|
| Occupancy |
448
|
478
|
| Equipment |
183
|
187
|
| Supplies |
79
|
70
|
| Professional and outside services |
718
|
647
|
| Advertising and marketing |
85
|
72
|
| Foreclosed assets, net |
101
|
132
|
| FDIC insurance premium |
62
|
234
|
| Other operating expense |
469
|
434
|
| Total noninterest expense |
5,053
|
5,214
|
| Income (loss) before income taxes |
402
|
(5)
|
| Income tax expense |
0
|
0
|
| Net income (loss) |
402
|
(5)
|
| Preferred stock dividends and amortization of discount |
(178)
|
(163)
|
| Preferred stock principal forgiveness |
0
|
4,404
|
| Preferred stock dividend forgiveness |
0
|
2,215
|
| Net income available to common shareholders |
$ 224
|
$ 6,451
|
| Earnings per share, basic (in dollars per share) |
$ 0.16
|
$ 15.77
|
| Earnings per share, diluted (in dollars per share) |
$ 0.16
|
$ 15.40
|