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CONSOLIDATED STATEMENT OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest and fees on loans:        
Taxable $ 3,405 $ 3,496 $ 10,216 $ 10,384
Exempt from Federal income taxes 127 110 383 376
Interest on Federal funds sold 120 0 268 0
Interest on deposits in banks 10 4 23 9
Interest and dividends on investment securities:        
Taxable 1,902 1,292 4,930 3,978
Exempt from Federal income taxes 102 180 410 496
Dividends 0 0 0 13
Total interest income 5,666 5,082 16,230 15,256
Interest expense:        
Interest on deposits 346 224 945 621
Interest on borrowings 63 55 171 152
Total interest expense 409 279 1,116 773
Net interest income 5,257 4,803 15,114 14,483
Provision for loan and lease losses 50 300 50 300
Net interest income after provision for loan and lease losses 5,207 4,503 15,064 14,183
Noninterest income:        
Service charges on deposit accounts 119 117 352 348
Gain on sale of securities 8 19 19 161
Other noninterest income 250 241 758 726
Total noninterest income 377 377 1,129 1,235
Noninterest expense:        
Salaries and employee benefits 2,551 2,102 7,274 6,336
Occupancy 267 262 791 793
Furniture and equipment 141 141 415 439
Federal Deposit Insurance Corporation assessments 52 51 158 156
Expenses related to other real estate owned 10 4 12 36
Other expense 982 752 2,531 2,350
Total noninterest expense 4,003 3,312 11,181 10,110
Income before provision for income taxes 1,581 1,568 5,012 5,308
Provision for income taxes 428 459 1,237 1,718
Net income $ 1,153 $ 1,109 $ 3,775 $ 3,590
Basic earnings per share $ 0.20 $ 0.18 $ 0.64 $ 0.56
Diluted earnings per share 0.20 0.17 0.64 0.55
Cash dividends per share $ 0.05 $ 0.05 $ 0.15 $ 0.15