XML 14 R4.htm IDEA: XBRL DOCUMENT v3.4.0.3
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Interest and dividend income:    
Loans, including fees $ 3,003 $ 2,715
Securities 154 139
Short-term investments 6 2
Total interest and dividend income 3,163 2,856
Interest expense:    
Deposits 411 236
Short-term Federal Home Loan Bank advances 20 13
Long-term Federal Home Loan Bank advances 143 149
Total interest expense 574 398
Net interest and dividend income 2,589 2,458
Provision for loan losses 74 27
Net interest and dividend income, after provision for loan losses 2,515 2,431
Non-interest income:    
Customer service fees 184 169
Mortgage banking income, net 9 22
Gain on sale of SBA loans 15  
Income from bank-owned life insurance 26 25
Other 8 6
Total non-interest income 242 222
Non-interest expenses:    
Salaries and employee benefits 1,411 1,228
Occupancy and equipment expenses 265 278
Data processing expenses 214 160
Professional fees 291 122
Advertising expenses 87 88
FDIC insurance 44 42
Other general and administrative expenses 325 336
Total non-interest expenses 2,637 2,254
Income before income taxes 120 399
Income tax provision 40 149
Net income $ 80 $ 250
Weighted-average number of common shares outstanding:    
Basic (in shares) 1,754,525 1,747,833
Diluted (in shares) 1,759,031 1,759,445
Earnings per share:    
Basic (in dollars per share) $ 0.05 $ 0.14
Diluted (in dollars per share) 0.05 0.14
Dividends paid per share (in dollars per share) $ 0.0475 $ 0.0425