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CONSOLIDATED STATEMENTS OF INCOME - 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, including fees $ 3,035 $ 2,733 $ 6,038 $ 5,448
Securities 154 146 308 286
Short-term investments 5 2 11 4
Total interest and dividend income 3,194 2,881 6,357 5,738
Interest expense:        
Deposits 456 249 867 485
Short-term Federal Home Loan Bank advances 8 7 28 21
Long-term Federal Home Loan Bank advances 140 152 283 301
Total interest expense 604 408 1,178 807
Net interest and dividend income 2,590 2,473 5,179 4,931
Provision for loan losses     74 27
Net interest and dividend income, after provision for loan losses 2,590 2,473 5,105 4,904
Non-interest income:        
Customer service fees 171 181 355 350
Mortgage banking income, net 46 29 55 51
Gain on sale of SBA loans     15  
Income from bank-owned life insurance 26 25 52 50
Other 12 8 20 14
Total non-interest income 255 243 497 465
Non-interest expenses:        
Salaries and employee benefits 1,464 1,210 2,875 2,438
Occupancy and equipment expenses 264 253 529 531
Data processing expenses 167 165 381 325
Professional fees 268 120 559 242
Advertising expenses 88 88 175 176
FDIC insurance 47 42 91 84
Other general and administrative expenses 303 264 628 600
Total non-interest expenses 2,601 2,142 5,238 4,396
Income before income taxes 244 574 364 973
Income tax provision 92 211 132 360
Net income $ 152 $ 363 $ 232 $ 613
Weighted-average number of common shares outstanding:        
Basic (in shares) 1,763,721 1,751,698 1,759,123 1,749,765
Diluted (in shares) 1,773,852 1,758,442 1,766,325 1,758,672
Earnings per share:        
Basic (in dollars per share) $ 0.09 $ 0.21 $ 0.13 $ 0.35
Diluted (in dollars per share) 0.09 0.21 0.13 0.35
Dividends paid per share (in dollars per share) $ 0.05 $ 0.0475 $ 0.0975 $ 0.09