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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
INTEREST AND DIVIDEND INCOME        
Loans including fees $ 6,115 $ 5,613 $ 11,779 $ 11,178
Interest-earning deposits with banks 49 23 92 44
Investments 381 363 731 827
Dividends on equity securities (restricted) 34 32 66 64
Total Interest and Dividend Income 6,579 6,031 12,668 12,113
Deposits        
Demand 12 13 25 24
Savings 46 37 93 78
Time deposits below $100,000 335 270 624 535
Time deposits above $100,000 214 158 403 312
FHLB advances 39 28 84 64
Federal funds purchased     2
Trust Preferred Securities 142 123 283 245
Total Interest Expense 788 629 1,512 1,260
NET INTEREST INCOME 5,791 5,402 11,156 10,853
PROVISION FOR LOAN LOSSES (500) (500)
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 5,791 5,902 11,156 11,353
NONINTEREST INCOME        
Gain on sale and leaseback transactions 2,619 2,619
Service charges 888 584 1,721 1,072
Fees, commissions and other income 820 858 1,622 1,663
Insurance and investment fees 54 143 106 301
Net realized gains on sale of investment securities 135 240
Life insurance investment income 28 33 55 63
Total Noninterest Income 4,409 1,753 6,123 3,339
NONINTEREST EXPENSES        
Salaries and employee benefits 3,341 3,339 6,722 6,549
Occupancy and equipment expense 1,134 1,068 2,261 1,921
Lease expense - operating leases 38 38
Advertising and public relations 81 129 174 233
Data processing and telecommunications 670 576 1,223 1,157
FDIC insurance premiums 110 136 212 270
Other real estate owned and repossessed vehicles, net 753 89 1,053 252
Other operating expenses 1,496 1,439 2,918 2,731
Total Noninterest Expenses 7,623 6,776 14,601 13,113
INCOME BEFORE INCOME TAXES 2,577 879 2,678 1,579
INCOME TAX BENEFIT (3) (14) (1)
NET INCOME $ 2,577 $ 882 $ 2,692 $ 1,580
Income Per Share        
Basic $ 0.11 $ 0.04 $ 0.12 $ 0.07
Fully Diluted $ 0.11 $ 0.04 $ 0.12 $ 0.07
Average Weighted Shares of Common Stock        
Basic 23,355,503 23,354,082 23,355,198 23,354,082
Fully Diluted 23,355,503 23,354,082 23,355,198 23,354,082