XML 14 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
INTEREST INCOME        
Loans, including fees $ 9,745 $ 8,326 $ 19,729 $ 12,714
Securities:        
Taxable 497 348 894 617
Tax-exempt 117 114 237 228
Federal funds sold 52 33 126 34
Interest-bearing deposit accounts 80 53 178 60
Certificates of deposit 17 18 36 37
Total interest income 10,508 8,892 21,200 13,690
INTEREST EXPENSE        
Deposits 1,796 1,077 3,400 1,707
Federal funds purchased       10
Securities sold under repurchase agreements 4 4 7 7
Subordinated notes 128 119 256 236
Federal Home Loan Bank advances 386 248 699 402
Total interest expense 2,314 1,448 4,362 2,362
Net interest income 8,194 7,444 16,838 11,328
Provision for (recovery of) loan losses (348) 568 (28) 758
Net interest income after provision for loan losses 8,542 6,876 16,866 10,570
NON-INTEREST INCOME        
Non-deposit product income 282 115 414 195
Secondary market lending income 243 86 376 201
Increase in cash surrender value of bank owned life insurance 124 133 251 208
Net gains on sale of available-for-sale securities   7   2
Net losses on disposition of other assets     (69)  
Gain on curtailment of post-retirement benefit plan     352  
Other income 10 91 101 152
Total non-interest income 1,163 1,081 2,334 1,971
NON-INTEREST EXPENSE        
Salaries and employee benefits 4,273 3,321 8,379 6,145
Occupancy 882 693 1,677 1,132
Data processing 837 394 1,385 598
Bank franchise tax 177 142 353 218
Telecommunications 131 76 237 104
FDIC assessments 187 111 370 196
Foreclosed property 53 59 65 69
Consulting 346 97 729 151
Advertising and marketing 153 54 221 127
Directors’ fees 68 209 236 331
Audit and accounting fees 240 217 603 245
Legal 119 13 249 95
Merger related   685 363 985
Intangible amortization 203 234 414 234
Net other real estate owned (gains) losses 84 (3) (57) 93
Other 809 844 1,459 1,305
Total non-interest expense 8,562 7,146 16,683 12,028
Income before income taxes 1,143 811 2,517 513
Income tax expense 197 254 447 133
Net income $ 946 $ 557 $ 2,070 $ 380
Basic and diluted earnings per share $ 0.07 $ 0.06 $ 0.16 $ 0.05
Income from Fiduciary Activities        
NON-INTEREST INCOME        
Non-Interest Income $ 198 $ 229 $ 445 $ 474
Service Charges and Fees on Deposit Accounts        
NON-INTEREST INCOME        
Non-Interest Income 152 246 287 458
Interchange Fees        
NON-INTEREST INCOME        
Non-Interest Income 124 129 116 204
Other Service Charges and Fees        
NON-INTEREST INCOME        
Non-Interest Income $ 30 $ 45 $ 61 $ 77