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Consolidated Condensed Statements of Income - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest and Dividend Income        
Loans receivable $ 12,753,000 $ 11,515,000 $ 25,002,000 $ 22,735,000
Investment securities 1,745,000 1,610,000 3,466,000 3,299,000
Federal Home Loan Bank stock 117,000 111,000 231,000 216,000
Deposits with financial institutions 37,000 22,000 62,000 42,000
Total interest and dividend income 14,652,000 13,258,000 28,761,000 26,292,000
Interest Expense        
Deposits 1,634,000 1,283,000 3,100,000 2,568,000
Federal Home Loan Bank advances 883,000 897,000 1,769,000 1,792,000
Other 48,000 91,000 92,000 183,000
Total interest expense 2,565,000 2,271,000 4,961,000 4,543,000
Net Interest Income 12,087,000 10,987,000 23,800,000 21,749,000
Provision for loan losses 300,000 150,000 500,000 350,000
Net Interest Income After Provision for Loan Losses 11,787,000 10,837,000 23,300,000 21,399,000
Non-interest Income        
Service fee income 1,714,000 1,528,000 3,114,000 2,902,000
Net realized gain on sales of available for sale securities 279,000 652,000 408,000 770,000
Commissions 1,318,000 1,404,000 2,514,000 2,503,000
Net gains on sales of loans 945,000 1,407,000 1,715,000 2,347,000
Net servicing fees 96,000 78,000 197,000 148,000
Increase in cash value of life insurance 288,000 306,000 560,000 590,000
Loss on sale of other real estate and repossessed assets (75,000) (188,000) (21,000) (217,000)
Other income 105,000 706,000 307,000 847,000
Total non-interest income 4,670,000 5,893,000 8,794,000 9,890,000
Non-interest Expenses        
Salaries and employee benefits 6,534,000 6,660,000 13,260,000 13,151,000
Net occupancy expenses 763,000 601,000 1,572,000 1,247,000
Equipment expenses 438,000 484,000 865,000 971,000
Data processing fees 541,000 492,000 1,095,000 981,000
ATM and debit card expenses 410,000 356,000 828,000 736,000
Deposit insurance 168,000 225,000 381,000 459,000
Professional fees 408,000 380,000 804,000 850,000
Advertising and promotion 303,000 269,000 614,000 696,000
Software subscriptions and maintenance 567,000 549,000 1,136,000 1,029,000
Other real estate and repossessed assets 33,000 14,000 80,000 86,000
Other expenses 1,052,000 1,210,000 1,988,000 2,450,000
Total non-interest expenses 11,217,000 11,240,000 22,623,000 22,656,000
Income Before Income Tax 5,240,000 5,490,000 9,471,000 8,633,000
Income tax expense 1,342,000 1,333,000 2,367,000 2,111,000
Net Income Available to Common Shareholders $ 3,898,000 $ 4,157,000 $ 7,104,000 $ 6,522,000
Earnings Per Common Share        
Basic $ 0.53 $ 0.56 $ 0.97 $ 0.87
Diluted 0.52 0.55 0.95 0.86
Dividends Per Common Share $ 0.16 $ 0.14 $ 0.32 $ 0.28