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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest and dividend income:        
Loans and fees on loans $ 5,344 $ 4,797 $ 15,374 $ 14,123
Taxable investment securities 262 244 824 744
Nontaxable investment securities 56 75 172 239
Dividends on restricted stock 38 33 111 98
Other interest income 48 68 138 160
Total interest and dividend income 5,748 5,217 16,619 15,364
Interest expense:        
Deposits 761 588 1,998 1,694
Subordinated notes 134 134 402 402
Other borrowed funds 85 58 243 171
Total interest expense 980 780 2,643 2,267
Net interest income 4,768 4,437 13,976 13,097
Provision for loan losses 24 40 371 575
Net interest income after provision for loan losses 4,744 4,397 13,605 12,522
Noninterest income:        
Gains on sales of investment securities, net 18 60 60
Income from life insurance death benefit 642
Other income 165 150 478 675
Total noninterest income 764 757 2,940 2,487
Noninterest expense:        
Salaries and employee benefits 2,113 2,099 6,465 6,153
Occupancy and equipment expense 416 391 1,253 1,245
Data processing expense 355 309 1,152 954
ATM processing expense 21 57 62 180
Advertising and marketing expense 136 112 491 383
Professional fees 76 89 350 454
Bank franchise taxes 106 100 313 299
FDIC insurance expense 26 78 182 181
Losses on sales and write-downs of other real estate owned, net 2 160 380
Other real estate owned expense 44 28 249 66
Directors’ fees 91 97 294 306
Merger-related expense 65 65
Other expense 407 444 1,289 1,308
Total noninterest expense 3,858 3,804 12,325 11,909
Net income before income taxes 1,650 1,350 4,220 3,100
Income tax expense 308 413 687 930
Net income 1,342 937 3,533 2,170
Less net income attributable to non-controlling interest 10 20 38 54
Net income attributable to HomeTown Bankshares Corporation $ 1,332 $ 917 $ 3,495 $ 2,116
Basic earnings per common share (in dollars per share) $ 0.23 $ 0.16 [1] $ 0.60 [1] $ 0.37 [1]
Diluted earnings per common share (in dollars per share) $ 0.23 $ 0.16 [1] $ 0.60 [1] $ 0.37 [1]
Weighted average common shares outstanding (in shares) 5,810,618 5,770,175 [1] 5,804,251 [1] 5,767,602 [1]
Diluted weighted average common shares outstanding (in shares) 5,861,082 5,794,777 [1] 5,854,715 [1] 5,792,204 [1]
Deposit Account [Member]        
Noninterest income:        
Revenue from Contract with Customer $ 139 $ 120 $ 419 $ 415
Financial Service, Other [Member]        
Noninterest income:        
Revenue from Contract with Customer 265 206 754 612
Mortgage Banking [Member]        
Noninterest income:        
Revenue from Contract with Customer $ 195 $ 263 $ 587 $ 725
[1] Restated for the 4% stock dividend distributed July 11, 2016