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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
INTEREST INCOME        
Loans, including fees $ 8,326 $ 4,013 $ 12,714 $ 7,987
Securities:        
Taxable 348 211 617 418
Tax-exempt 114 135 228 271
Federal funds sold 33 1 34 1
Interest-bearing deposit accounts 53 12 60 27
Certificates of deposit 18 20 37 42
Total interest income 8,892 4,392 13,690 8,746
INTEREST EXPENSE        
Deposits 1,077 641 1,707 1,286
Federal funds purchased   1 10 1
Securities sold under repurchase agreements 4 4 7 6
Subordinated debt 119 118 236 236
FHLB advances 248 117 402 242
Total interest expense 1,448 881 2,362 1,771
Net interest income 7,444 3,511 11,328 6,975
Provision for loan losses 568 183 758 148
Net interest income after provision for loan losses 6,876 3,328 10,570 6,827
NON-INTEREST INCOME        
Income from fiduciary activities 229 236 474 443
Service charges and fees on deposit accounts 246 228 458 455
VISA-related fees 49 59 48 105
Non-deposit product income 115 74 195 180
Other service charges and fees 184 149 355 297
Secondary market lending income 86 223 201 300
Increase in cash surrender value of life insurance 133 61 208 124
Net gains on sale of securities available for sale 7 104 2 110
Other real estate gains (losses) 3 (53) (93) (88)
Other income 91 3 152 16
Total non-interest income 1,143 1,084 2,000 1,942
NON-INTEREST EXPENSES        
Salaries and employee benefits 3,321 1,815 6,145 3,870
Occupancy expense 693 451 1,132 899
Software maintenance 394 181 598 342
Bank franchise tax 142 61 218 121
VISA expense 15 22 35 61
Telephone expense 76 35 104 66
FDIC assessments 111 103 196 184
Foreclosure property expense 59 17 69 29
Consulting expense 97 74 151 129
Advertising and marketing 54 59 127 101
Directors' fees 209 65 331 144
Audit and accounting fees 217 56 245 157
Merger expense 685   985  
Intangible amortization 234   234  
Other expense 901 697 1,487 1,213
Total non-interest expenses 7,208 3,636 12,057 7,316
Net income before income taxes 811 776 513 1,453
Income tax expense 254 190 133 343
Net income $ 557 $ 586 $ 380 $ 1,110
Basic Earnings Per Share        
Average basic shares outstanding 9,233,615 4,774,856 7,017,907 4,774,856
Earnings per share, basic $ 0.06 $ 0.12 $ 0.05 $ 0.23
Diluted Earnings Per Share        
Average diluted shares outstanding 9,304,796 4,794,783 7,084,430 4,792,574
Earnings per share, diluted $ 0.06 $ 0.12 $ 0.05 $ 0.23