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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
INTEREST INCOME        
Loans, including fees $ 2,845 $ 2,749 $ 5,619 $ 5,585
Interest and dividends on securities 507 487 1,025 975
Deposits with banks and federal funds sold 31 32 62 59
Total Interest Income 3,383 3,268 6,706 6,619
INTEREST EXPENSE        
Deposits 327 377 659 769
Short-term borrowings 84   167  
Long term borrowings 76 159 152 319
Total Interest Expense 487 536 978 1,088
Net Interest Income 2,896 2,732 5,728 5,531
Provision for loan losses (30)   165 117
Net interest income after provision for loan losses 2,926 2,732 5,563 5,414
NONINTEREST INCOME        
Service charges on deposit accounts 69 81 136 164
Other fees and commissions 167 171 328 330
Gain on securities sold 1   2 1
Income on life insurance 51 53 100 107
Other income 17 13 35 24
Total Noninterest Income 305 318 601 626
NONINTEREST EXPENSE        
Salary and employee benefits 1,614 1,535 3,036 3,040
Occupancy and equipment expenses 249 249 517 509
Legal, accounting and other professional fees 262 192 468 422
Data processing and item processing services 143 172 312 334
FDIC insurance costs 64 77 124 154
Advertising and marketing related expenses 42 11 73 36
Loan collection costs 29 80 47 121
Telephone costs 59 50 114 95
Other expenses 368 332 727 660
Total Noninterest Expenses 2,830 2,698 5,418 5,371
Income before income taxes 401 352 746 669
Income tax expense 63 44 92 78
NET INCOME $ 338 $ 308 $ 654 $ 591
Basic and diluted net income per common share (in dollars per share) $ 0.12 $ 0.11 $ 0.23 $ 0.21