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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest Income        
Loans $ 1,051 $ 808 $ 1,982 $ 1,633
Interest-bearing deposits 38 15 56 27
Total interest income 1,089 823 2,038 1,660
Interest Expense        
Deposits 211 150 377 303
Borrowings 39 33 78 66
Total interest expense 250 183 455 369
Net Interest Income 839 640 1,583 1,291
Provision for Loan Losses 31 31
Net Interest Income After Provision for Loan Losses 808 640 1,552 1,291
Noninterest Income        
Service charges and fees 107 79 173 141
Gain on sale of loans 725 317 939 335
Gain on sale of foreclosed real estate, net 1 14 30 14
Income from bank owned life insurance 43 43 85 85
Loan servicing fees, net 13 10 27 28
Other operating 8 9 19 17
Total noninterest income 897 472 1,273 620
Noninterest Expense        
Salaries and employee benefits 678 610 1,308 1,176
Occupancy and equipment 104 115 199 232
Data processing fees 130 101 244 202
Franchise taxes 30 10 30 19
FDIC insurance premiums 10 19 18 39
Insurance premiums 10 11 20 24
Professional services 130 128 251 252
Impairment losses and expenses of foreclosed real estate 4 13 5
Other 110 134 262 235
Total noninterest expense 1,206 1,128 2,345 2,184
Net Income (Loss) $ 499 $ (16) $ 480 $ (273)
Earnings (loss) per share - basic and diluted (in dollars per share) $ 0.77 $ (0.02) $ 0.74 $ (0.42)