XML 15 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest and dividend income:        
Interest on loans receivable $ 11,483 $ 9,893 $ 32,922 $ 28,065
Interest and dividends on investment securities and FHLB stock 254 271 909 596
Total interest and dividend income 11,737 10,164 33,831 28,661
Interest expense:        
Interest on certificates of deposit 1,942 1,574 5,539 4,318
Interest on other deposits 272 176 655 487
Interest on borrowings 276 66 578 126
Total interest expense 2,490 1,816 6,772 4,931
Net interest income 9,247 8,348 27,059 23,730
Provision for loan losses (Note 4) 602 238 1,034 497
Net interest income after provision for loan losses 8,645 8,110 26,025 23,233
Noninterest income:        
Service charges and fees 191 231 627 684
Brokerage commissions 286 167 424 453
Late and prepayment charges 65 157 327 603
Other 172 213 744 676
Total noninterest income 714 768 2,122 2,416
Noninterest expense:        
Compensation and benefits 4,547 4,220 13,466 12,005
Occupancy expense 1,585 1,412 4,794 4,235
Data processing expenses 342 316 1,050 1,181
Direct loan expenses 265 189 572 558
Insurance and surety bond premiums 87 44 275 205
Office supplies, telephone and postage 308 250 960 786
FDIC deposit insurance assessment 68 122 202 246
Charitable foundation contributions   6,293   6,293
Other operating expenses 1,567 884 4,164 2,320
Total noninterest expense 8,769 13,730 25,483 27,829
Income before income taxes 590 (4,852) 2,664 (2,180)
Provision (benefit) for income taxes (Note 8) 188 (1,643) 623 (657)
Net income (loss) $ 402 $ (3,209) $ 2,041 $ (1,523)
Earnings per share for the period (Note 10)        
Basic $ 0.02   $ 0.11  
Diluted $ 0.02   $ 0.11