XML 14 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest and dividend income:        
Loans and fees on loans $ 4,337 $ 4,047 $ 8,593 $ 7,946
Taxable investment securities 201 176 405 382
Nontaxable investment securities 101 100 202 203
Dividends on restricted stock 36 35 70 68
Other interest income 26 9 45 18
Total interest and dividend income 4,701 4,367 9,315 8,617
Interest expense:        
Deposits 537 465 1,041 913
Subordinated notes 134 268
Other borrowed funds 70 102 167 194
Total interest expense 741 567 1,476 1,107
Net interest income 3,960 3,800 7,839 7,510
Provision for loan losses 808 868
Net interest income after provision for loan losses 3,152 3,800 6,971 7,510
Noninterest income:        
Service charges on deposit accounts 164 124 318 234
ATM and interchange income 168 146 315 268
Mortgage banking 181 258 356 378
Gains on sales of investment securities, net 209 214 40
Other income 151 167 281 310
Total noninterest income 873 695 1,484 1,230
Noninterest expense:        
Salaries and employee benefits 1,597 1,619 3,323 3,160
Occupancy and equipment expense 444 439 878 884
Data processing expense 210 205 442 417
Advertising and marketing expense 124 167 218 409
Professional fees 116 111 217 223
Bank franchise taxes 91 65 183 131
FDIC insurance expense 75 84 158 159
Losses on sales and writedowns of other real estate owned, net 91 91
Other real estate owned expense 25 40 47 70
Directors’ fees 102 59 209 111
Other expense 490 433 861 767
Total noninterest expense 3,365 3,222 6,627 6,331
Net income before income taxes 660 1,273 1,828 2,409
Income tax expense 434 381 787 727
Net income 226 892 1,041 1,682
Less net income attributable to non-controlling interest 2 29 16 43
Net income attributable to HomeTown Bankshares Corporation 224 863 1,025 1,639
Effective dividends on preferred stock 204 210 408 420
Net income available to common stockholders $ 20 $ 653 $ 617 $ 1,219
Basic earnings per common share (in dollars per share) $ 0 $ 0.19 $ 0.17 $ 0.36
Diluted earnings per common share (in dollars per share) $ 0 $ 0.15 $ 0.11 $ 0.28
Weighted average common shares outstanding (in shares) 3,557,763 3,428,085 [1] 3,529,605 3,425,644 [1]
Diluted weighted average common shares outstanding (in shares) 5,780,122 5,757,685 [1] 5,776,832 5,755,244 [1]
[1] Restated for 4% common stock dividend distributed July 11, 2016.