XML 36 R4.htm IDEA: XBRL DOCUMENT v3.2.0.727
Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest income:        
Interest and fees on loans $ 9,567 $ 9,442 $ 18,705 $ 18,732
Interest and dividends on investments 339 262 585 556
Interest on federal funds sold and cash equivalents 27 32 42 55
Total interest income 9,933 9,736 19,332 19,343
Interest expense:        
Interest on deposits 1,198 1,186 2,329 2,363
Interest on borrowings 276 216 489 437
Total interest expense 1,474 1,402 2,818 2,800
Net interest income 8,459 8,334 16,514 16,543
Provision for loan losses 750 1,000 1,590 2,000
Net interest income after provision for loan losses 7,709 7,334 14,924 14,543
Noninterest income:        
Gain on sale of SBA loans 1,200 1,011 1,757 1,332
Loan fees 341 246 655 461
Net income from BOLI 89 90 176 178
Service fees on deposit accounts 66 58 136 115
Loss on sale and write-down of real estate owned (954) (39) (1,123) (435)
Realized gain on sale of AFS securities 0 0 0 178
Other 112 293 510 788
Total noninterest income 854 1,659 2,111 2,617
Noninterest expense:        
Compensation and benefits 1,920 1,761 3,909 3,605
Professional services 364 338 873 748
Occupancy and equipment 306 296 629 592
Data processing 111 128 250 245
FDIC insurance 169 251 334 491
OREO expense 425 1,248 911 2,008
Other operating expense 963 872 1,699 1,748
Total noninterest expense 4,258 4,894 8,605 9,437
Income before income tax expense 4,305 4,099 8,430 7,723
Income tax expense 1,387 1,264 2,908 2,426
Net income attributable to Company and noncontrolling interest 2,918 2,835 5,522 5,297
Net income attributable to noncontrolling interest (395) (349) (501) (486)
Net income attributable to Company 2,523 2,486 5,021 4,811
Preferred stock dividend and discount accretion 300 300 600 600
Net income available to common shareholders $ 2,223 $ 2,186 $ 4,421 $ 4,211
Earnings per common share:        
Basic (in dollars per share) $ 0.37 $ 0.36 $ 0.73 $ 0.70
Diluted (in dollars per share) $ 0.32 $ 0.31 $ 0.63 $ 0.61
Weighted average shares outstanding:        
Basic (in shares) 6,034,613 5,991,859 6,022,768 5,990,309
Diluted (in shares) 7,961,720 7,930,518 7,944,347 7,923,201