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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest and dividend income:        
Loans and fees on loans $ 5,126 $ 4,703 $ 10,030 $ 9,327
Taxable investment securities 271 260 562 500
Nontaxable investment securities 57 76 116 164
Dividends on restricted stock 38 33 73 65
Other interest income 40 50 90 92
Total interest and dividend income 5,532 5,122 10,871 10,148
Interest expense:        
Deposits 660 552 1,237 1,106
Subordinated notes 134 134 268 268
Other borrowed funds 86 60 158 114
Total interest expense 880 746 1,663 1,488
Net interest income 4,652 4,376 9,208 8,660
Provision for loan losses 110 465 347 535
Net interest income after provision for loan losses 4,542 3,911 8,861 8,125
Noninterest income:        
Gains on sales of investment securities, net 29 60 42
Income from life insurance death benefit 12 642
Other income 171 375 313 525
Total noninterest income 789 1,033 2,176 1,731
Noninterest expense:        
Salaries and employee benefits 2,133 2,064 4,352 4,053
Occupancy and equipment expense 407 439 837 854
Data processing expense 374 318 797 645
ATM processing expense 24 61 41 123
Advertising and marketing expense 174 142 355 272
Professional fees 165 132 274 365
Bank franchise taxes 106 99 207 199
FDIC insurance expense 74 71 156 103
Losses on sales and writedowns of other real estate, net 380 158 380
Other real estate owned expense 64 24 205 37
Directors’ fees 98 108 203 209
Other expense 491 474 882 865
Total noninterest expense 4,110 4,312 8,467 8,105
Net income before income taxes 1,221 632 2,570 1,751
Income tax expense 232 176 379 518
Net income 989 456 2,191 1,233
Less net income attributable to non-controlling interest 16 22 28 34
Net income attributable to HomeTown Bankshares Corporation $ 973 $ 434 $ 2,163 $ 1,199
Basic earnings per common share (in dollars per share) $ 0.17 $ 0.08 [1] $ 0.37 [1] $ 0.21 [1]
Diluted earnings per common share (in dollars per share) $ 0.17 $ 0.08 [1] $ 0.37 [1] $ 0.21 [1]
Weighted average common shares outstanding (in shares) 5,806,960 5,768,670 [1] 5,801,016 [1] 5,766,041 [1]
Diluted weighted average common shares outstanding (in shares) 5,852,758 5,789,905 [1] 5,846,814 [1] 5,787,276 [1]
Deposit Account [Member]        
Noninterest income:        
Revenue from Contract with Customer $ 147 $ 146 $ 280 $ 296
Financial Service, Other [Member]        
Noninterest income:        
Revenue from Contract with Customer 262 228 489 406
Mortgage Banking [Member]        
Noninterest income:        
Revenue from Contract with Customer $ 197 $ 255 $ 392 $ 462
[1] Restated for the 4% stock dividend distributed July 11, 2016