XML 14 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONSOLIDATED INCOME STATEMENTS (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest income:        
Loans, including fees $ 8,228 $ 7,131 $ 22,817 $ 21,253
Investment securities and other 288 244 817 834
Total interest income 8,516 7,375 23,634 22,087
Interest expense:        
Deposits 733 587 2,088 1,761
Other borrowings 74 6 219 82
Total interest expense 807 593 2,307 1,843
Net interest income 7,709 6,782 21,327 20,244
Provision (credit) for loan losses 22 (445) (164) (1,997)
Net interest income after provision for loan losses 7,687 7,227 21,491 22,241
Non-interest income:        
Other loan fees 270 244 827 789
Document processing fees 130 141 381 364
Service charges 100 92 292 252
Other 59 77 215 366
Total non-interest income 559 554 1,715 1,771
Non-interest expenses:        
Salaries and employee benefits 3,809 3,412 10,755 9,729
Occupancy, net 564 507 1,631 1,439
Professional services 196 212 653 736
Data processing 173 135 513 388
Depreciation 162 103 486 290
Advertising and marketing 154 116 447 348
FDIC assessment 74 99 270 252
Stock-based compensation 97 73 261 333
Loan servicing and collection 108 10 198 281
Loan litigation settlement, net 0 (50) 0 7,103
Other 499 421 1,464 1,291
Total non-interest expenses 5,836 5,038 16,678 22,190
Income before provision for income taxes 2,410 2,743 6,528 1,822
Provision for income taxes 929 1,152 2,639 803
Net income 1,481 1,591 3,889 1,019
Dividends on preferred stock 0 125 0 401
Discount on partial redemption of preferred stock 0 0 0 (129)
Net income available to common stockholders $ 1,481 $ 1,466 $ 3,889 $ 747
Earnings per share:        
Basic (in dollars per share) $ 0.18 $ 0.18 $ 0.48 $ 0.09
Diluted (in dollars per share) $ 0.18 $ 0.17 $ 0.46 $ 0.09
Weighted average number of common shares outstanding:        
Basic (in shares) 8,096 8,203 8,128 8,204
Diluted (in shares) 8,421 8,508 8,442 8,503
Dividends declared per common share (in dollars per share) $ 0.035 $ 0.03 $ 0.10 $ 0.08