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Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest income:        
Interest and fees on loans receivable $ 3,779 $ 3,689 $ 7,503 $ 7,315
Interest on mortgage-backed and other securities 90 104 184 168
Other interest income 243 82 330 188
Total interest income 4,112 3,875 8,017 7,671
Interest expense:        
Interest on deposits 435 427 850 888
Interest on borrowings 536 533 1,067 1,070
Total interest expense 971 960 1,917 1,958
Net interest income before recapture of loan losses 3,141 2,915 6,100 5,713
Recapture of loan losses 750 500 1,500 1,582
Net interest income after recapture of loan losses 3,891 3,415 7,600 7,295
Non-interest income:        
Service charges 102 113 208 230
Net gain on sale of loans 380   514  
Net loss on sale of REOs (14) (47)   (50)
CDFI grant     355 200
Other 24 (2) 58 17
Total non-interest income 492 64 1,135 397
Non-interest expense:        
Compensation and benefits 1,670 1,607 3,438 3,195
Occupancy expense, net 287 296 586 580
Information services 245 218 462 437
Professional services 208 239 478 663
Office services and supplies 79 94 160 196
FDIC assessments 95 176 175 350
REO 164 377 200 425
Corporate insurance 102 116 196 228
Other 374 297 581 567
Total non-interest expense 3,224 3,420 6,276 6,641
Income before income taxes 1,159 59 2,459 1,051
Income tax expense 6   8 3
Net income 1,153 59 2,451 1,048
Other comprehensive income (loss), net of tax:        
Change in unrealized gains (losses) on securities available-for-sale (118) 94 (61) 73
Other comprehensive income (loss), net of tax (118) 94 (61) 73
Comprehensive income $ 1,035 $ 153 $ 2,390 $ 1,121
Earnings per common share - basic (in dollars per share) $ 0.04 $ 0.00 $ 0.08 $ 0.05
Earnings per common share - diluted (in dollars per share) $ 0.04 $ 0.00 $ 0.08 $ 0.05