XML 14 R4.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Interest and Dividend Income    
Loans receivable $ 18,270 $ 14,325
Investment securities 2,766 2,166
Federal Home Loan Bank stock 178 190
Deposits with financial institutions 88 67
Total interest and dividend income 21,302 16,748
Interest Expense    
Deposits 3,573 2,107
Federal Home Loan Bank advances 1,436 962
Other 251 95
Total interest expense 5,260 3,164
Net Interest Income 16,042 13,584
Provision for loan losses 475 450
Net Interest Income After Provision for Loan Losses 15,567 13,134
Non-interest Income    
Service fee income 1,808 1,564
Net realized gain on sales of available for sale securities 444 154
Commissions 1,196 1,262
Net gains on sales of loans 1,030 635
Net servicing fees 149 150
Increase in cash value of life insurance 302 289
Loss on sale of other real estate and repossessed assets (29) (68)
Other income 185 449
Total non-interest income 5,085 4,435
Non-interest Expenses    
Salaries and employee benefits 8,560 7,289
Net occupancy expenses 1,044 897
Equipment expenses 647 556
Data processing fees 651 593
ATM and debit card expenses 562 471
Deposit insurance 207 257
Professional fees 408 782
Advertising and promotion 329 360
Software subscriptions and maintenance 769 594
Intangible amortization 214 163
Other real estate and repossessed assets 53 45
Other expenses 1,115 970
Total non-interest expenses 14,559 12,977
Income Before Income Tax 6,093 4,592
Income tax expense 855 585
Net Income $ 5,238 $ 4,007
Earnings Per Common Share    
Basic $ 0.61 $ 0.51
Diluted 0.60 0.50
Dividends Per Common Share $ 0.20 $ 0.18