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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
INTEREST INCOME    
Federal funds sold and interest-bearing deposits $ 44 $ 9
FHLB stock 52 44
Securities:    
Taxable 363 387
Tax-exempt 62 72
Total securities 425 459
Loans:    
SBA loans 721 679
SBA 504 loans 385 346
Commercial loans 5,676 5,066
Residential mortgage loans 2,942 2,582
Consumer loans 931 699
Total loans 10,655 9,372
Total interest income 11,176 9,884
INTEREST EXPENSE    
Interest-bearing demand deposits 137 106
Savings deposits 366 264
Time deposits 951 686
Borrowed funds and subordinated debentures 735 808
Total interest expense 2,189 1,864
Net interest income 8,987 8,020
Provision for loan losses 200 200
Net interest income after provision for loan losses 8,787 7,820
NONINTEREST INCOME    
Branch fee income 333 346
Service and loan fee income 255 296
Gain on sale of SBA loans held for sale, net 308 363
Gain on sale of mortgage loans, net 715 344
BOLI income 94 94
Net security gains 94  
Gain on repurchase of subordinated debt 2,264  
Other income 217 198
Total noninterest income 4,280 1,641
NONINTEREST EXPENSE    
Compensation and benefits 3,549 3,472
Occupancy 618 672
Processing and communications 598 596
Furniture and equipment 420 373
Professional services 255 236
Loan costs 198 221
OREO expenses 24 35
Deposit insurance 160 183
Advertising 241 182
Other expenses 544 532
Total noninterest expense 6,607 6,502
Income before provision for income taxes 6,460 2,959
Provision for income taxes 2,255 1,020
Net income $ 4,205 $ 1,939
Net income per common share - Basic $ 0.50 $ 0.23
Net income per common share - Diluted $ 0.48 $ 0.23
Weighted average common shares outstanding - Basic 8,459 8,417
Weighted average common shares outstanding - Diluted 8,682 8,514