XML 16 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
INTEREST INCOME    
Interest and fees on loans $ 11,882 $ 12,431
Interest on deposits with other banks 79 88
Interest on investment securities - taxable 546 310
Interest on tax exempt loans and securities 561 553
Total interest income 13,068 13,382
INTEREST EXPENSE    
Interest on deposits 1,906 1,888
Interest on repurchase agreements 17 21
Interest on FHLB and other borrowings 288 226
Interest on subordinated debt 551 552
Total interest expense 2,762 2,687
NET INTEREST INCOME 10,306 10,695
Provision for loan losses 518 625
Net interest income after provision for loan losses 9,788 10,070
NONINTEREST INCOME    
Service charges on deposit accounts 187 173
Income on bank owned life insurance 147 161
Visa debit card and interchange income 295 292
Mortgage fee income 9,634 6,785
Gain on sale of portfolio loans 9 149
Insurance and investment services income 124 53
Gain on sale of securities 183 381
(Loss) gain on derivatives (1,947) 401
Other operating income 192 217
Total noninterest income 8,824 8,612
NONINTEREST EXPENSES    
Salary and employee benefits 9,962 10,308
Occupancy expense 994 938
Equipment depreciation and maintenance 689 560
Data processing and communications 1,214 1,124
Mortgage processing 894 861
Marketing, contributions and sponsorships 327 297
Professional fees 677 705
Printing, postage and supplies 217 216
Insurance, tax and assessment expense 461 374
Travel, entertainment, dues and subscriptions 501 368
Other operating expenses 381 240
Total noninterest expense 16,317 15,991
Income from continuing operations, before income taxes 2,295 2,691
Income tax expense - continuing operations 721 846
Net income from continuing operations 1,574 1,845
Loss from discontinued operations, before income taxes 0 (79)
Income tax benefit - discontinued operations 0 (30)
Net loss from discontinued operations 0 (49)
Net income 1,574 1,796
Preferred dividends 129 186
Net income available to common shareholders $ 1,445 $ 1,610
Earnings per share from continuing operations - basic (in dollars per share) $ 0.14 $ 0.21
Earnings per share from discontinued operations - basic (in dollars per share) 0.00 (0.01)
Earnings per common shareholder - basic (in dollars per share) 0.14 0.20
Earnings per share from continuing operations - diluted (in dollars per share) 0.14 0.20
Earnings per share from discontinued operations - diluted (in dollars per share) 0.00 0.00
Earnings per common shareholder - diluted (in dollars per share) 0.14 0.20
Cash dividends declared (in dollars per share) $ 0.025 $ 0.02
Weighted average shares outstanding - basic (in shares) 9,996,544 8,061,998
Weighted average shares outstanding - diluted (in shares) 10,009,341 9,901,250