XML 16 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest income:        
Interest and fees on loans $ 8,796,000 $ 8,304,000 $ 17,247,000 $ 16,215,000
Interest on taxable securities 808,000 801,000 1,592,000 1,746,000
Interest on tax-exempt securities 588,000 602,000 1,182,000 1,201,000
Interest on interest-bearing deposits in other banks 65,000 56,000 140,000 127,000
Total interest income 10,257,000 9,763,000 20,161,000 19,289,000
Service charges on deposit accounts 88,000 52,000 160,000 101,000
Fees on payroll and benefit processing 139,000 130,000 299,000 278,000
Earnings on cash surrender value - life insurance 153,000 159,000 309,000 324,000
Gain on sale of investment securities, net 28,000 61,000 122,000 276,000
Impairment losses on investment securities (546,000) (546,000)
ATM and point of sale income 335,000 95,000 427,000 183,000
Other income 240,000 384,000 615,000 573,000
Total noninterest income 437,000 881,000 1,386,000 1,735,000
Interest expense:        
Interest on demand deposits 130,000 107,000 252,000 223,000
Interest on savings deposits 41,000 55,000 86,000 109,000
Interest on certificates of deposit 515,000 594,000 1,112,000 1,185,000
Interest on term debt 295,000 363,000 1,077,000 712,000
Interest on junior subordinated debentures 59,000 49,000 113,000 96,000
Total interest expense 1,040,000 1,168,000 2,640,000 2,325,000
Net interest income 9,217,000 8,595,000 17,521,000 16,964,000
Provision for loan and lease losses
Net interest income after provision for loan and lease losses 9,217,000 8,595,000 17,521,000 16,964,000
Noninterest expense:        
Salaries and related benefits 4,086,000 3,575,000 8,315,000 7,485,000
Premises and equipment 987,000 709,000 1,776,000 1,443,000
Federal Deposit Insurance Corporation insurance premium 181,000 178,000 337,000 385,000
Data processing fees 373,000 251,000 678,000 493,000
Professional service fees 470,000 442,000 906,000 830,000
Telecommunications 199,000 109,000 346,000 219,000
Branch acquisition costs 168,000 580,000
Loss on cancellation of interest rate swap 2,325,000
Other expenses 1,204,000 858,000 2,406,000 1,860,000
Total noninterest expense 7,668,000 6,122,000 17,669,000 12,715,000
Income before provision for income taxes 1,986,000 3,354,000 1,238,000 5,984,000
Provision for income taxes 430,000 964,000 642,000 1,793,000
Net income 1,556,000 2,390,000 596,000 4,191,000
Less: Preferred stock dividends 50,000 100,000
Income available to common shareholders $ 1,556,000 $ 2,340,000 $ 596,000 $ 4,091,000
Earnings per share - basic (in dollars per share) $ 0.11 $ 0.18 $ 0.04 $ 0.31
Weighted average shares - basic (in shares) 13,367 13,338 13,364 13,320
Earnings per share - diluted (in dollars per share) $ 0.11 $ 0.18 $ 0.04 $ 0.31
Weighted average shares - diluted (in shares) 13,425 13,370 13,408 13,353