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Consolidated Condensed Statements of Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest income:        
Loans receivable $ 6,141 $ 6,231 $ 12,606 $ 12,521
Securities available for sale - taxable 1,198 1,268 2,445 3,716
Securities available for sale - nontaxable 340 416 693 869
Interest-earning deposits 12 4 28 8
Total interest income 7,691 7,919 15,772 17,114
Interest expense:        
Deposits 1,007 1,245 2,102 2,505
Advances from Federal Home Loan Bank 28 66 101 135
Repurchase agreements 139 118 282 238
Subordinated debentures 94 183 188 367
Total interest expense 1,268 1,612 2,673 3,245
Net interest income 6,423 6,307 13,099 13,869
Provision for loan losses 465 270 923 485
Net interest income after provision for loan losses 5,958 6,037 12,176 13,384
Non-interest income:        
Service charges 698 720 1,375 1,434
Merchant card income 314 286 605 556
Mortgage origination revenue 435 343 803 520
Gain on sale of securities 52 83 343 449
Income from bank owned life insurance 77 73 161 144
Financial services commission 191 194 324 353
Other operating income 203 169 379 325
Total non-interest income 1,970 1,868 3,990 3,781
Non-interest expenses:        
Salaries and benefits 3,901 4,004 7,889 8,188
Occupancy 801 752 1,588 1,490
Data processing 704 701 1,431 1,393
State deposit tax 247 251 495 499
Intangible amortization   16   32
Professional services 305 468 640 797
Deposit insurance and examination 159 151 332 268
Advertising 371 340 691 646
Postage and communications 172 134 327 266
Supplies 159 111 308 257
Loss (gain) on real estate owned (1) 741 8 734
Real estate owned 202 67 261 204
Other operating 589 498 1,322 930
Total non-interest expense 7,609 8,234 15,292 15,704
Income (loss) before income tax 319 (329) 874 1,461
Income tax expense (benefit) 15 (212) 61 223
Net income (loss) $ 304 $ (117) $ 813 $ 1,238
Net income (loss) per share:        
Basic $ 0.05 $ (0.02) $ 0.13 $ 0.19
Diluted 0.05 (0.02) 0.13 0.19
Dividend per share $ 0.04 $ 0.04 $ 0.08 $ 0.08
Weighted average shares outstanding - basic 6,232,457 6,425,687 6,265,106 6,588,845
Weighted average shares outstanding - diluted 6,232,457 6,425,687 6,265,106 6,588,845