XML 72 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
INTEREST INCOME:        
Loans receivable $ 5,852 $ 3,970 $ 9,986 $ 8,051
Investment securities:        
Taxable 310 56 536 110
Nontaxable 295 293 581 606
Other 111 138 216 271
Total interest income 6,568 4,457 11,319 9,038
INTEREST EXPENSE:        
Deposits 984 817 1,853 1,663
Other borrowings 66 13 88 26
Total interest expense 1,050 830 1,941 1,689
NET INTEREST INCOME 5,518 3,627 9,378 7,349
PROVISION FOR LOAN LOSSES 230   230  
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 5,288 3,627 9,148 7,349
NONINTEREST INCOME:        
Deposit fee income 867 802 1,492 1,572
Earnings on life insurance policies 209 200 409 398
Gain on sale of loans 652 263 956 459
Other 97 75 170 164
Total noninterest income 1,825 1,340 3,027 2,593
NONINTEREST EXPENSES:        
Salaries and employee benefits 6,540 2,804 9,602 5,482
Net occupancy expense 704 608 1,288 1,226
Real estate owned, net 591 45 808 (51)
FDIC insurance 125 170 245 341
Data processing 563 397 982 733
Professional fees 235 151 430 410
Advertising and public relations 198 74 301 144
Postage and supplies 119 108 210 217
Other 944 526 1,492 1,053
Total noninterest expenses 10,019 4,883 15,358 9,555
INCOME (LOSS) BEFORE INCOME TAXES (2,906) 84 (3,183) 387
NET INCOME (LOSS) $ (2,906) $ 84 $ (3,183) $ 387
Basic earnings (loss) per common share (in Dollars per share) $ (0.13) $ 0.00 $ (0.15) $ 0.02
Diluted earnings (loss) per common share (in Dollars per share) $ (0.13) $ 0.00 $ (0.15) $ 0.02