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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 $ 4,425 $ 3,874 $ 8,938 $ 7,707
Investment securities - taxable 435 222 836 465
Investment securities - tax exempt 91 108 227 202
Federal funds sold 1   2  
Interest-bearing deposits 13 9 28 18
Dividends 14 16 43 59
Total Interest Income 4,979 4,229 10,074 8,451
Interest Expense        
Deposits 462 436 928 875
Short-term borrowings 13 18 56 33
Long-term debt 81 50 137 105
Total Interest Expense 556 504 1,121 1,013
Net Interest Income 4,423 3,725 8,953 7,438
Provision for Loan Losses 156 450 255 450
Net Interest Income after Provision for Loan Losses 4,267 3,275 8,698 6,988
Noninterest Income        
Service charges on deposit accounts 131 97 242 195
Other service charges and fees 185 153 350 290
Earnings on cash value of life insurance 76 74 158 125
Fees and commissions from securities brokerage 213 217 390 426
Gain/(loss) on sale of available for sale securities 334 (41) 332 (41)
Loss on sale and valuation of other real estate owned (69) (41) (63) (67)
Loss on other assets   (53)   (53)
Gain on sale of mortgage loans 104 116 182 194
Total Noninterest Income 974 522 1,591 1,069
Noninterest Expenses        
Salaries and employee benefits 2,126 3,793 4,277 5,871
Occupancy expenses 327 579 708 1,015
Equipment expenses 199 165 371 326
Telecommunication and processing charges 355 310 702 603
Postage and office supplies 119 98 221 186
Loan prepayment penalty   238   238
FDIC premiums 94 87 214 155
Bank shares tax expense 2 87 107 172
Directors' compensation 86 89 176 175
Professional services 255 122 348 290
Amortization of intangible assets 78 67 155 134
Other expenses 535 425 1,018 753
Total Noninterest Expenses 4,176 6,060 8,297 9,918
Income (Loss) before Income Taxes 1,065 (2,263) 1,992 (1,861)
Applicable Federal Income Tax Expense (Benefit) 210 (919) 384 (891)
Net Income (Loss) $ 855 $ (1,344) $ 1,608 $ (970)
Basic Earnings (Loss) Per Share $ 0.27 $ (0.50) $ 0.50 $ (0.36)
Diluted Earnings (Loss) Per Share $ 0.27 $ (0.50) $ 0.50 $ (0.36)