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Unaudited Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Interest income    
Loans $ 7,403 $ 7,029
Securities    
Taxable 677 829
Exempt from federal income taxes 22 23
Federal funds sold and other 5 32
Total interest income 8,107 7,913
Interest expense    
Deposits 376 263
Federal funds purchased and securities sold under agreements to repurchase 7 12
Federal Home Loan Bank advances 227 230
Series B mandatory redeemable preferred stock 3 4
Subordinated debentures 95 142
Total interest expense 708 651
Net interest income 7,399 7,262
Provision for loan losses 0 300
Net interest income after provision for loan losses 7,399 6,962
Noninterest income    
Service charges 852 945
Mortgage banking income 248 200
Electronic banking services 610 633
Bank-owned life insurance 217 223
Securities gains, net 0 37
Income from real estate 69 110
Gain on sale of OREO 2 48
Other income 142 67
Noninterest income 2,140 2,263
Noninterest expense    
Salaries and employee benefits 4,278 4,304
Occupancy, net 632 680
Furniture and equipment 269 256
Marketing 37 35
Supplies and printing 45 58
Telephone 192 204
Data processing 471 423
FDIC insurance 77 157
Loan processing and collection costs 101 58
OREO carrying costs 93 91
OREO valuation adjustment 10 16
Amortization of intangible assets 0 238
Other expenses 1,606 1,346
Noninterest expense 7,811 7,866
Income before income taxes 1,728 1,359
Income tax expense 669 441
Net income 1,059 918
Preferred stock dividends 82 82
Net income for common stockholders $ 977 $ 836
Basic earnings per common share (in dollars per share) $ 0.15 $ 0.13
Diluted earnings per common share (in dollars per share) $ 0.15 $ 0.13
Total comprehensive income:    
Net income $ 1,059 $ 918
Change in unrealized gains on securities available for sale 710 1,195
Reclassification adjustment for losses (gains) recognized in income 0 (37)
Net unrealized gains 710 1,158
Tax effect 276 451
Other comprehensive income 434 707
Total comprehensive income $ 1,493 $ 1,625