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Consolidated Statements of Operations (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income:        
Loans, including fees $ 13,023 $ 15,344 $ 26,010 $ 31,359
Securities and other investments:        
Taxable 3,100 2,093 6,170 4,140
Nontaxable 160 277 416 593
Interest bearing deposits in other banks 1,663 1,025 2,795 1,644
Total interest income 17,946 18,739 35,391 37,736
Interest expense:        
Deposits 1,665 1,410 3,345 2,647
Securities sold under agreements to repurchase 9 25 23 66
Federal Home Loan Bank advances 74 120 155 249
Junior subordinated debentures 283 259 570 479
Total interest expense 2,031 1,814 4,093 3,441
Net interest income 15,915 16,925 31,298 34,295
Provision for loan losses 4,759 440 12,359 440
Net interest income after provision for loan losses 11,156 16,485 18,939 33,855
Non-interest income:        
Service charges on deposits 1,854 2,065 3,647 4,271
ATM and debit card income 2,044 1,877 3,969 3,661
Credit card income 425 381 946 752
Gain on sale of securities, net 202 0 575 0
Gain on sale of loans, net 0 0 1,274 0
Other charges and fees 265 559 652 1,027
Total non-interest income 4,790 4,882 11,063 9,711
Non-interest expenses:        
Salaries and employee benefits 8,940 7,916 18,638 15,635
Occupancy expense 2,962 3,193 6,269 6,238
ATM and debit card expense 682 648 1,306 1,224
Data processing 853 666 1,701 1,331
Regulatory remediation expense 0 4,093 0 9,249
Merger-related expense 1,149 0 1,149 0
Legal and professional fees 1,163 5,323 3,046 2,789
Loss on transfer of loans to held for sale 0 8 0 883
Other 3,100 426 6,626 6,796
Total non-interest expenses 18,849 22,273 38,735 44,145
Loss before income tax benefit (2,903) (906) (8,733) (579)
Income tax benefit 0 (237) 0 (271)
Net loss (2,903) (669) (8,733) (308)
Dividends on preferred stock 810 810 1,620 1,620
Net loss available to common shareholders $ (3,713) $ (1,479) $ (10,353) $ (1,928)
Basic loss per common share (in dollars per share) $ (0.22) $ (0.09) $ (0.62) $ (0.12)
Diluted loss per common share (in dollars per share) $ (0.22) $ (0.09) $ (0.62) $ (0.12)
Weighted average number of shares outstanding:        
Basic (in shares) 16,724 16,526 16,699 16,511
Diluted (in shares) 16,724 16,529 16,699 16,514
Dividends declared per common share (in dollars per share) $ 0.01 $ 0.01 $ 0.02 $ 0.02