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Consolidated Statements of Operations (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest income:        
Loans, including fees $ 14,590 $ 17,329 $ 45,948 $ 50,682
Securities and other investments:        
Taxable 2,156 2,276 6,296 7,019
Nontaxable 273 363 866 1,144
Interest bearing deposits in other banks 1,417 411 3,061 823
Total interest income 18,436 20,379 56,171 59,668
Interest expense:        
Deposits 1,602 1,094 4,249 3,002
Securities sold under agreements to repurchase 16 149 82 619
FHLB borrowings 81 111 330 290
Other borrowings 271 212 750 632
Total interest expense 1,970 1,566 5,411 4,543
Net interest income 16,466 18,813 50,760 55,125
Provision for loan losses 4,300 4,300 4,740 19,600
Net interest income after provision for loan losses 12,166 14,513 46,020 35,525
Non-interest income:        
Service charges on deposits 2,159 2,463 6,430 7,339
Gain on sale of securities, net 0 338 0 347
Loss on equity securities, other investments (16) 0 (66) 0
ATM and debit card income 1,796 1,687 5,457 5,156
Other charges and fees 1,151 998 2,981 2,911
Total non-interest income 5,090 5,486 14,802 15,753
Non-interest expenses:        
Salaries and employee benefits 7,762 7,849 23,398 25,989
Occupancy expense 3,077 3,711 9,315 11,524
ATM and debit card expense 653 654 1,876 2,088
Data processing 730 640 2,061 1,928
FDIC insurance 360 448 1,296 1,275
Regulatory remediation expense 5,502 856 14,658 856
Legal and professional fees 2,543 548 5,425 2,127
Other 2,900 3,053 9,644 8,806
Total non-interest expenses 23,527 17,759 67,673 54,593
(Loss)Income before income tax benefit (6,271) 2,240 (6,851) (3,315)
Income tax (benefit)expense (1,373) 574 (1,644) (2,058)
Net (loss)income (4,898) 1,666 (5,207) (1,257)
Dividends on preferred stock 810 810 2,430 2,432
Net (loss)income available to common shareholders $ (5,708) $ 856 $ (7,637) $ (3,689)
Loss per share:        
Basic (loss) earnings per common share (in dollars per share) $ (0.34) $ 0.05 $ (0.46) $ (0.28)
Diluted (loss) earnings per common share (in dollars per share) $ (0.34) $ 0.05 $ (0.46) $ (0.28)
Weighted average number of shares outstanding:        
Basic (in shares) 16,558 16,395 16,531 13,314
Diluted (in shares) 16,558 16,396 16,531 13,314
Dividends declared per common share (in dollars per share) $ 0.01 $ 0.01 $ 0.03 $ 0.19