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Consolidated Condensed Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest and Dividend Income        
Loans receivable $ 17,902 $ 13,109 $ 49,965 $ 38,112
Investment securities 2,732 1,771 7,591 5,237
Federal Home Loan Bank stock 144 118 460 349
Deposits with financial institutions 58 28 188 89
Total interest and dividend income 20,836 15,026 58,204 43,787
Interest Expense        
Deposits 2,892 1,804 7,538 4,903
Federal Home Loan Bank advances 1,302 909 3,438 2,679
Other 225 49 619 141
Total interest expense 4,419 2,762 11,595 7,723
Net Interest Income 16,417 12,264 46,609 36,064
Provision for loan losses 570 370 1,520 870
Net Interest Income After Provision for Loan Losses 15,847 11,894 45,089 35,194
Non-interest Income        
Service fee income 2,024 1,651 5,547 4,765
Net realized gain on sales of available for sale securities 406 45 666 453
Commissions 1,121 1,260 3,751 3,774
Net gains on sales of loans 853 1,010 2,224 2,725
Net servicing fees 129 109 433 306
Increase in cash value of life insurance 313 275 924 835
Gain (loss) on sale of other real estate and repossessed assets 23 (14) (34) (35)
Other income 170 98 766 405
Total non-interest income 5,039 4,434 14,277 13,228
Non-interest Expenses        
Salaries and employee benefits 8,152 6,871 24,069 20,131
Net occupancy expenses 1,087 788 2,979 2,360
Equipment expenses 635 442 1,889 1,307
Data processing fees 669 604 1,938 1,699
ATM and debit card expenses 664 457 1,708 1,284
Deposit insurance 209 181 691 562
Professional fees 460 372 1,714 1,175
Advertising and promotion 416 290 1,275 905
Software subscriptions and maintenance 702 525 1,987 1,661
Other real estate and repossessed assets 51 39 140 120
Other expenses 1,529 876 5,324 2,864
Total non-interest expenses 14,574 11,445 43,714 34,068
Income Before Income Tax 6,312 4,883 15,652 14,354
Income tax expense 910 1,132 2,079 3,499
Net Income $ 5,402 $ 3,751 $ 13,573 $ 10,855
Earnings Per Common Share        
Basic $ 0.63 $ 0.51 $ 1.63 $ 1.48
Diluted 0.62 0.50 1.60 1.45
Dividends Per Common Share $ 0.18 $ 0.16 $ 0.54 $ 0.48