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Consolidated Condensed Statements of Income - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Interest and Dividend Income    
Loans receivable $ 14,325,000 $ 12,249,000
Investment securities 2,166,000 1,720,000
Federal Home Loan Bank stock 190,000 115,000
Deposits with financial institutions 67,000 25,000
Total interest and dividend income 16,748,000 14,109,000
Interest Expense    
Deposits 2,107,000 1,465,000
Federal Home Loan Bank advances 962,000 886,000
Other 95,000 45,000
Total interest expense 3,164,000 2,396,000
Net Interest Income 13,584,000 11,713,000
Provision for loan losses 450,000 200,000
Net Interest Income After Provision for Loan Losses 13,134,000 11,513,000
Non-interest Income    
Service fee income 1,564,000 1,400,000
Net realized gain on sales of available for sale securities 154,000 129,000
Commissions 1,262,000 1,196,000
Net gains on sales of loans 635,000 770,000
Net servicing fees 150,000 101,000
Increase in cash value of life insurance 289,000 272,000
Gain (loss) on sale of other real estate and repossessed assets (68,000) 54,000
Other income 449,000 202,000
Total non-interest income 4,435,000 4,124,000
Non-interest Expenses    
Salaries and employee benefits 7,289,000 6,726,000
Net occupancy expenses 897,000 809,000
Equipment expenses 556,000 427,000
Data processing fees 593,000 554,000
ATM and debit card expenses 471,000 418,000
Deposit insurance 257,000 213,000
Professional fees 782,000 396,000
Advertising and promotion 360,000 312,000
Software subscriptions and maintenance 594,000 569,000
Other real estate and repossessed assets 45,000 47,000
Other expenses 1,133,000 935,000
Total non-interest expenses 12,977,000 11,406,000
Income Before Income Tax 4,592,000 4,231,000
Income tax expense 585,000 1,025,000
Net Income $ 4,007,000 $ 3,206,000
Earnings Per Common Share    
Basic $ 0.51 $ 0.44
Diluted 0.50 0.43
Dividends Per Common Share $ 0.18 $ 0.16