XML 15 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest and fees on loans:        
Taxable $ 10,260 $ 8,684 $ 20,217 $ 16,644
Tax-exempt 19 13 52 15
Interest on securities:        
Taxable 396 304 795 566
Tax-exempt 75 26 154 57
Other interest income 116 66 244 121
Total interest income 10,866 9,093 21,462 17,403
INTEREST EXPENSE:        
Deposits 1,054 771 2,013 1,540
Borrowings 493 326 964 579
Total interest expense 1,547 1,097 2,977 2,119
Net interest income 9,319 7,996 18,485 15,284
Provision for loan losses 50 150 200 150
Net interest income after provision for loan losses 9,269 7,846 18,285 15,134
OTHER INCOME:        
Deposit service fees 268 248 540 464
Income from mortgage loans sold on the secondary market 316 339 614 606
SBA/USDA loan sale gains 89 166 149 166
Net mortgage servicing (amortization) income (9) (8) (17) (62)
Net realized security gains   12   109
Other 131 139 285 240
Total other income 795 896 1,571 1,523
OTHER EXPENSE:        
Salaries and employee benefits 3,658 3,519 7,455 6,906
Occupancy 776 640 1,561 1,280
Furniture and equipment 544 425 1,025 808
Data processing 489 333 950 678
Advertising 174 181 297 337
Professional service fees 405 257 726 498
Loan origination expenses and deposit and card related fees 155 155 334 282
Writedowns and losses on other real estate held for sale 243 (14) 255 2
FDIC insurance assessment (189) (117) (346) (225)
Telephone 134 122 291 234
Transaction related expenses   2,449   2,516
Other 750 709 1,454 1,325
Total other expenses 7,517 8,893 14,694 15,091
Income before provision for income taxes 2,547 (151) 5,162 1,566
Provision for income taxes 867 (26) 1,756 559
NET INCOME $ 1,680 $ (125) $ 3,406 $ 1,007
INCOME PER COMMON SHARE:        
Basic (in dollars per share) $ 0.27 $ (0.02) $ 0.54 $ 0.16
Diluted (in dollars per share) $ 0.27 $ (0.02) $ 0.54 $ 0.16