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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
INTEREST AND DIVIDEND INCOME        
Loans including fees $ 6,123 $ 5,732 $ 17,902 $ 16,910
Federal funds sold 1 1
Interest-earning deposits with banks 58 23 150 67
Investments 391 334 1,122 1,161
Dividends on equity securities (restricted) 39 35 105 99
Total Interest and Dividend Income 6,612 6,124 19,280 18,237
Deposits        
Demand 11 13 36 37
Savings 44 44 137 122
Time deposits above 591 441 1,618 1,288
FHLB advances 33 45 117 109
Federal funds purchased 2
Trust Preferred Securities 154 128 437 373
Total Interest Expense 833 671 2,345 1,931
NET INTEREST INCOME 5,779 5,453 16,935 16,306
PROVISION FOR LOAN LOSSES (500)
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 5,779 5,453 16,935 16,806
NONINTEREST INCOME        
Gain on sale and leaseback transactions     2,619
Service charges 934 854 2,655 1,926
Fees, commissions and other income 807 1,031 2,429 2,694
Insurance and investment fees 40 103 146 404
Net realized gains on sale of investment securities     240
Life insurance investment income 27 55 82 118
Total Noninterest Income 1,808 2,043 7,931 5,382
NONINTEREST EXPENSES        
Salaries and employee benefits 3,413 3,405 10,135 9,954
Occupancy and equipment expense 1,115 1,121 3,376 3,042
Lease expense - operating leases 112 150
Advertising and public relations 83 99 257 332
Data processing and telecommunications 630 569 1,853 1,726
FDIC insurance premiums 86 137 298 407
Other real estate owned and repossessed vehicles, net 227 347 1,280 599
Other operating expenses 1,432 1,477 4,350 4,208
Total Noninterest Expenses 7,098 7,155 21,699 20,268
INCOME BEFORE INCOME TAXES 489 341 3,167 1,920
INCOME TAX EXPENSE (BENEFIT) 5 (5) (9) (6)
NET INCOME $ 484 $ 346 $ 3,176 $ 1,926
Income Per Share        
Basic $ 0.02 $ 0.01 $ 0.14 $ 0.08
Fully Diluted $ 0.02 $ 0.01 $ 0.14 $ 0.08
Average Weighted Shares of Common Stock        
Basic 23,355,580 23,354,111 23,355,611 23,354,092
Fully Diluted 23,355,580 23,354,111 23,355,611 23,354,092