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Consolidated Statements of Net Income (Loss) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Interest income:        
Interest and fees on loans $ 3,942 $ 3,523 $ 11,361 $ 10,387
Other interest income 35 5 106 14
Total interest income 3,977 3,528 11,467 10,401
Interest expense:        
Interest on deposits 573 616 1,736 1,879
Interest on borrowed funds 26 30 62 98
Total interest expense 599 646 1,798 1,977
Net interest income 3,378 2,882 9,669 8,424
Provision for loan losses 115 129 396 338
Net interest income after provision for loan losses 3,263 2,753 9,273 8,086
Non-interest income:        
Customer service fees 797 780 2,301 2,256
Gain on sales of loans, net 575 518 1,573 2,330
Bank-owned life insurance income 31 27 94 27
Other income 32 37 107 145
Total non-interest income 1,435 1,362 4,075 4,758
Non-interest expense:        
Salary and employee benefits 2,117 2,218 6,520 6,235
Occupancy and equipment 726 608 1,956 1,786
Data processing 352 378 1,132 1,111
Deposit servicing 153 123 510 343
Professional fees 199 188 570 482
Foreclosed real estate 18 34 188 329
Impairment loss on real estate held for sale 706   1,099 482
FDIC insurance assessment 86 86 249 240
Advertising 75 86 173 229
Contribution to Coastway Cares Charitable Foundation II     1,521  
Other general and administrative 367 346 1,229 1,167
Total non-interest expense 4,799 4,067 15,147 12,404
Income (loss) before income taxes (101) 48 (1,799) 440
Income tax expense (benefit) 10 40 (622) 187
Net income (loss) and comprehensive income (loss) $ (111) $ 8 $ (1,177) $ 253
Weighted average shares outstanding (basic and diluted) (in shares) 4,563,165      
Earnings (loss) per common share (basic and diluted) (in dollars per share) $ (0.02)