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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (Q2) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest Income        
Interest on investment securities and cash $ 352 $ 250 $ 601 $ 467
Interest and fees on loans 4,846 4,016 9,424 7,876
Total interest income 5,198 4,266 10,025 8,343
Interest Expense        
Interest expense non-maturity deposits 166 105 312 180
Interest expense time deposits 702 498 1,310 1,006
Interest expense borrowed funds 80 51 190 96
Interest expense capital lease 3 4 7 9
Interest expense debt 13 0 14 0
Interest expense on subordinated debt 191 188 382 378
Total interest expense 1,155 846 2,215 1,669
Net interest income 4,043 3,420 7,810 6,674
Loan loss provision 88 64 340 215
Net interest income after loan loss provision 3,955 3,356 7,470 6,459
Noninterest income        
Overdraft fees on deposits 141 94 281 178
Interchange fee income, net 52 42 98 63
Service charges on deposits 16 11 31 25
Mortgage fee income 27 25 42 41
Customer service fees 14 14 29 27
ATM income 7 7 13 13
Bank-owned life insurance income 49 55 98 91
Unrealized gain on equity securities 50 0 88 0
Other income 10 8 16 12
Total noninterest income 366 256 696 450
Noninterest expense        
Salaries & benefits expense 1,834 1,774 3,697 3,517
Occupancy expense 186 220 414 424
Furniture, fixture & equipment expense 153 153 310 293
Data processing expense 188 269 390 537
Office supplies expense 21 23 41 43
Professional fees 112 136 223 242
Advertising and marketing 27 36 59 71
Insurance 92 73 186 146
Foreclosed asset expense, net 300 221 326 261
Loan expense 58 54 86 91
Stockholder expense 35 54 69 112
Directors fees and expenses 66 69 140 139
Telephone expense 69 76 140 146
Core deposit intangible amortization expense 8 11 17 23
Merger expenses 323 0 323 0
Other operating expense 148 158 295 259
Total noninterest expense 3,620 3,327 6,716 6,304
Pre-tax income 701 285 1,450 605
Income tax expense 191 89 359 198
Net income $ 510 $ 196 $ 1,091 $ 407
Earnings per share        
Basic earnings per common share (in dollars per share) $ 0.08 $ 0.04 $ 0.19 $ 0.09
Diluted earnings per common share (in dollars per share) $ 0.08 $ 0.04 $ 0.19 $ 0.09
Weighted average common shares outstanding (in shares) 6,583,719 4,654,880 5,667,619 4,654,635
Diluted average common shares outstanding (in shares) 6,671,626 4,722,607 5,763,824 4,728,495