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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest Income:        
Loans receivable, including fees $ 4,769 $ 3,177 $ 13,213 $ 9,097
Securities held to maturity 264 276 762 1,038
Other 50 57 128 126
Total Interest Income 5,083 3,510 14,103 10,261
Interest Expense        
Deposits 622 383 1,703 1,036
Borrowings 271 183 691 562
Total Interest Expense 893 566 2,394 1,598
Net Interest Income 4,190 2,944 11,709 8,663
Provision for Loan Losses 490 180 985 500
Net Interest Income after Provision for Loan Losses 3,700 2,764 10,724 8,163
Non-Interest Income        
Fees and service charges 87 78 256 248
Income from bank owned life insurance 101 94 313 207
Other 17 11 42 381
Total Non-Interest Income 205 183 611 836
Non-Interest Expenses        
Salaries and employee benefits 1,577 1,419 4,661 4,306
Directors compensation 188 109 551 336
Occupancy and equipment 394 382 1,217 1,064
Service bureau fees 67 134 164 639
Advertising 4 7 12 28
FDIC assessment 61 74 131 211
Professional services 342 248 1,050 860
Other 189 127 571 529
Total Non-Interest Expenses 2,822 2,500 8,357 7,973
Income before Income Taxes 1,083 447 2,978 1,026
Income Tax Expense (86) 146 528 343
Net Income $ 1,169 $ 301 $ 2,450 $ 683
Earnings per share:        
Basic (in dollars per share) $ 0.21 $ 0.05 $ 0.44 $ 0.12
Dilutive (in dollars per share) $ 0.21 $ 0.05 $ 0.44 $ 0.12