17. Summary of Quarterly Results (unaudited)

12 Months Ended

Dec. 31, 2015

Notes

17. Summary of Quarterly Results (unaudited)

17.  SUMMARY OF QUARTERLY RESULTS (UNAUDITED)

The following summarizes the company’s consolidated results of operations during 2015 and 2014, on a quarterly basis:  

      (Dollars in thousands)

	2015
	Fourth	Third	Second	First
	Quarter	Quarter	Quarter	Quarter
Interest income	$   609	$   636	$  630	$712
Interest expense	17	17	17	18
Net interest income	592	619	613	694
Provision for loan losses	(51)	83	(40)	(60)
Net interest after provision for loan losses	643	536	653	754
Noninterest income	420	334	307	336
Noninterest expense	1,245	1,080	1,078	1,075
Net income (loss)	$ (182)	$ (210)	$ (118)	$  15
Basic income (loss) per common share	$ (0.21)	$ (0.24)	$(0.13)	$ 0.01
Diluted income (loss) per common share	$ (0.21)	$ (0.24)	$(0.13)	$ 0.01

      (Dollars in thousands)

	2014
	Fourth	Third	Second	First
	Quarter	Quarter	Quarter	Quarter
Interest income	$ 779	$  738	$   700	$ 713
Interest expense	18	19	18	18
Net interest income	761	719	682	695
Provision for loan losses	30	62	30	40
Net interest after provision for loan losses	731	657	652	655
Noninterest income	723	231	252	171
Noninterest expense	1,190	1,071	1,107	1,047
Net income (loss)	$   264	$ (183)	$ (203)	$  (221)
Basic income (loss) per common share	$  0.25	$(0.17)	$ (0.19)	$ (0.21)
Diluted income (loss) per common share	$  0.25	$(0.17)	$ (0.19)	$ (0.21)