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Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest income:        
Interest and fees on loans receivable $ 3,524 $ 3,681 $ 11,027 $ 10,996
Interest on mortgage-backed and other securities 84 103 268 271
Other interest income 121 91 451 279
Total interest income 3,729 3,875 11,746 11,546
Interest expense:        
Interest on deposits 485 421 1,335 1,309
Interest on borrowings 446 538 1,513 1,608
Total interest expense 931 959 2,848 2,917
Net interest income before loan loss provision recapture 2,798 2,916 8,898 8,629
Loan loss provision recapture 200 950 1,700 2,532
Net interest income after loan loss provision recapture 2,998 3,866 10,598 11,161
Non-interest income:        
Service charges 117 103 325 333
Net gain on sale of loans 738   1,252  
Net gain on sale of REOs 75 52 75 2
CDFI grant     355 200
Other 62 10 120 27
Total non-interest income 992 165 2,127 562
Non-interest expense:        
Compensation and benefits 1,765 1,829 5,203 5,024
Occupancy expense, net 312 321 898 901
Information services 222 203 684 640
Professional services 209 135 687 798
Office services and supplies 68 96 228 292
FDIC assessments 122 177 297 527
REO 25 82 225 507
Corporate insurance 71 65 267 293
Other 209 358 790 925
Total non-interest expense 3,003 3,266 9,279 9,907
Income before income taxes 987 765 3,446 1,816
Income tax expense 8   16 3
Net income 979 765 3,430 1,813
Other comprehensive income (loss), net of tax:        
Change in unrealized gains (losses) on securities available-for-sale 21 (70) (40) 3
Other comprehensive income (loss), net of tax 21 (70) (40) 3
Comprehensive income $ 1,000 $ 695 $ 3,390 $ 1,816
Earnings per common share - basic (in dollars per share) $ 0.03 $ 0.04 $ 0.12 $ 0.09
Earnings per common share - diluted (in dollars per share) $ 0.03 $ 0.04 $ 0.12 $ 0.09