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Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest income:        
Interest and fees on loans receivable $ 4,127 $ 3,835 $ 12,035 $ 10,855
Interest on mortgage-backed and other securities 69 80 217 247
Other interest income 148 98 365 299
Total interest income 4,344 4,013 12,617 11,401
Interest expense:        
Interest on deposits 611 568 1,782 1,596
Interest on borrowings 494 419 1,515 1,267
Total interest expense 1,105 987 3,297 2,863
Net interest income 3,239 3,026 9,320 8,538
Loan loss provision recapture 300   950 550
Net interest income after loan loss provision recapture 3,539 3,026 10,270 9,088
Non-interest income:        
Service charges 117 119 338 365
Gain on sale of loans 160   383  
CDFI grant       265
Income from litigation settlement     1,183  
Other 28 25 82 256
Total non-interest income 305 144 1,986 886
Non-interest expense:        
Compensation and benefits 1,878 1,729 5,193 5,341
Occupancy expense 333 301 953 883
Information services 202 199 610 585
Professional services 120 170 525 617
Office services and supplies 72 74 225 216
FDIC assessments 34 68 118 151
Other 418 302 1,144 900
Total non-interest expense 3,057 2,843 8,768 8,693
Income before income taxes 787 327 3,488 1,281
Income taxes 284   1,220 2
Net income 503 327 2,268 1,279
Other comprehensive income (loss), net of tax:        
Unrealized gains (losses) on securities available-for-sale arising during the period   (68) 3 95
Income tax   (28) 1 39
Other comprehensive income (loss), net of tax   (40) 2 56
Comprehensive income $ 503 $ 287 $ 2,270 $ 1,335
Earnings per common share-basic (in dollars per share) $ 0.02 $ 0.01 $ 0.09 $ 0.04
Earnings per common share-diluted (in dollars per share) $ 0.02 $ 0.01 $ 0.08 $ 0.04