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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Interest and dividend income:    
Loans and fees on loans $ 4,624 $ 4,256
Taxable investment securities 240 204
Nontaxable investment securities 87 101
Dividends on restricted stock 32 34
Other interest income 42 19
Total interest and dividend income 5,025 4,614
Interest expense:    
Deposits 554 504
Subordinated notes 134 134
Other borrowed funds 53 97
Total interest expense 741 735
Net interest income 4,284 3,879
Provision for loan losses 70 60
Net interest income after provision for loan losses 4,214 3,819
Noninterest income:    
Service charges on deposit accounts 149 154
ATM and interchange income 178 147
Mortgage banking 207 175
Gains on sales of investment securities, net 13 5
Other income 150 130
Total noninterest income 697 611
Noninterest expense:    
Salaries and employee benefits 1,989 1,726
Occupancy and equipment expense 428 434
Data processing expense 287 232
ATM processing expense 62 54
Advertising and marketing expense 130 94
Professional fees 233 101
Bank franchise taxes 100 92
FDIC insurance expense 32 83
Operating expenses 13 22
Directors’ fees 102 107
Other expense 416 317
Total noninterest expense 3,792 3,262
Net income before income taxes 1,119 1,168
Income tax expense 342 353
Net income 777 815
Less net income attributable to non-controlling interest 12 14
Net income attributable to HomeTown Bankshares Corporation 765 801
Effective dividends on preferred stock 204
Net income available to common stockholders $ 765 $ 597
Basic earnings per common share (in dollars per share) $ 0.13 $ 0.17 [1],[2]
Diluted earnings per common share (in dollars per share) $ 0.13 $ 0.14 [1],[2]
Weighted average common shares outstanding (in shares) 5,763,383 3,501,446 [1],[2]
Diluted weighted average common shares outstanding (in shares) 5,783,573 5,787,337 [1],[2]
[1] Restated for 4% common stock dividend distributed July 11, 2016.
[2] Restated for the 4% stock dividend distributed July 11, 2016