XML 14 R4.htm IDEA: XBRL DOCUMENT v3.4.0.3
Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Interest income:    
Interest and fees on loans $ 9,963 $ 9,139
Interest and dividends on investments 356 246
Interest on federal funds sold and cash equivalents 23 15
Total interest income 10,342 9,400
Interest expense:    
Interest on deposits 1,255 1,131
Interest on borrowings 334 213
Total interest expense 1,589 1,344
Net interest income 8,753 8,056
Provision for loan losses 700 840
Net interest income after provision for loan losses 8,053 7,216
Noninterest income:    
Gain on sale of SBA loans 1,432 557
Loan fees 347 316
Net income from BOLI 177 87
Service fees on deposit accounts 74 70
Loss on sale and write-down of real estate owned (967) (169)
Other 112 400
Total noninterest income 1,175 1,261
Noninterest expense:    
Compensation and benefits 2,085 1,990
Professional services 457 509
Occupancy and equipment 332 325
Data processing 133 139
FDIC insurance 176 165
OREO expense 329 486
Other operating expense 1,182 736
Total noninterest expense 4,694 4,350
Income before income tax expense 4,534 4,127
Income tax expense 1,546 1,521
Net income attributable to Company and noncontrolling interest 2,988 2,606
Net income attributable to noncontrolling interest (380) (106)
Net income attributable to Company 2,608 2,500
Preferred stock dividend and discount accretion 300 300
Net income available to common shareholders $ 2,308 $ 2,200
Earnings per common share:    
Basic (in dollars per share) $ 0.37 $ 0.37
Diluted (in dollars per share) $ 0.32 $ 0.31
Weighted average shares outstanding:    
Basic (in shares) 6,220,978 6,010,792
Diluted (in shares) 8,126,909 7,939,684