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Consolidated Statements of Income (Loss) and Comprehensive Income (Loss)
$ in Thousands
12 Months Ended
Dec. 31, 2016
USD ($)
$ / shares
Dec. 31, 2015
USD ($)
$ / shares
Interest income    
Loans $ 28,558 $ 25,619
Securities    
Taxable 2,905 2,887
Exempt from federal income taxes 91 164
Federal funds sold and other 134 85
Total interest income 31,688 28,755
Interest expense    
Deposits 1,357 1,227
Federal funds purchased and securities sold under agreements to repurchase 37 50
Federal Home Loan Bank advances 746 529
Series B mandatory redeemable preferred stock 14 16
Subordinated debentures 548 545
Notes payable 0 84
Total interest expense 2,702 2,451
Net interest income 28,986 26,304
Provision for loan losses 300 375
Net interest income after provision for loan losses 28,686 25,929
Noninterest income    
Service charges 3,927 4,051
Mortgage banking income 1,175 1,240
Electronic banking services 2,536 2,545
Bank-owned life insurance 883 909
Securities gains, net 142 339
Income from real estate 330 619
Gain on sale of OREO 130 161
Gain on sale of branches 1,877 0
Gain on sale of other assets 102 0
Gain on extinguishment of debt 1,000 1,750
Other income 644 814
Noninterest income 12,746 12,428
Noninterest expense    
Salaries and employee benefits 16,748 16,805
Occupancy, net 2,679 2,840
Furniture and equipment 1,093 1,028
Marketing 244 378
Supplies and printing 228 222
Telephone 831 816
Data processing 1,809 1,661
FDIC insurance 450 1,166
Loan processing and collection costs 390 705
OREO carrying costs 473 799
OREO valuation adjustment 137 291
Amortization of intangible assets 880 951
Other expenses 5,552 5,577
Noninterest expense 31,514 33,239
Income before income taxes 9,918 5,118
Income tax expense (benefit) 3,602 (37,484)
Net income 6,316 42,602
Preferred stock dividends 329 1,484
Discount on redemption of preferred stock 0 (13,668)
Net income for common stockholders $ 5,987 $ 54,786
Basic earnings per common share (in dollars per share) | $ / shares $ 0.92 $ 11.08 [1]
Diluted earnings per common share (in dollars per share) | $ / shares $ 0.92 $ 11.08 [1]
Total comprehensive income:    
Net income $ 6,316 $ 42,602
Change in unrealized gains (losses) on securities available for sale (503) (1,127)
Reclassification adjustment for losses (gains) recognized in income (142) (339)
Net unrealized gains (loss) (645) (1,466)
Tax effect (251) (571)
Other comprehensive income (loss) (394) (895)
Total comprehensive income $ 5,922 $ 41,707
[1] Share and per share amounts have been adjusted to reflect the Company's 1:30 reverse stock split effective May 29, 2015.