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Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest and Dividend Income:        
Interest and fees on loans $ 7,110 $ 6,560 $ 13,890 $ 12,973
Interest on due from banks 3 1 8 5
Interest on federal funds sold 2 1 5 2
Interest on securities:        
Taxable 491 471 987 1,019
Tax-exempt 420 376 847 760
Dividends and interest on all other securities 35 26 49 41
Total interest and dividend income 8,061 7,435 15,786 14,800
Interest Expense:        
Interest on savings deposits 73 54 137 109
Interest on time deposits 520 517 1,039 1,034
Interest on federal funds purchased, securities sold under agreements to repurchase and other borrowings 8 8 13 14
Interest on Federal Home Loan Bank advances 72 3 72 144
Total interest expense 673 582 1,261 1,301
Net interest income 7,388 6,853 14,525 13,499
Provision for loan losses 1,000 1,250 1,650 1,400
Net interest income, after provision for loan losses 6,388 5,603 12,875 12,099
Noninterest Income:        
Income from fiduciary activities 951 877 1,917 1,778
Service charges on deposit accounts 916 1,021 1,843 1,996
Other service charges, commissions and fees 1,075 1,033 2,091 2,051
Income from bank-owned life insurance 199 217 397 432
Income from Old Point Mortgage 284 80 290 89
Gain on sale of available-for-sale securities, net 87 6 87 515
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain 550 0 550 0
Other operating income 29 52 79 90
Total noninterest income 4,091 3,286 7,254 6,951
Noninterest Expense:        
Salaries and employee benefits 5,449 4,890 10,546 10,044
Occupancy and equipment 1,454 1,390 2,903 2,748
Data processing 441 435 855 857
FDIC insurance 98 156 194 321
Customer development 154 154 298 304
Legal and audit expenses 214 295 388 497
Other outside service fees 306 178 505 361
Employee professional development 219 179 455 327
Capital stock tax 138 127 281 262
ATM and check losses 155 83 332 170
Prepayment fee on Federal Home Loan Bank Advance 0 0 0 391
Expenses of other real estate owned and repossessed assets (18) 9 (18) 108
Directors' fees 660 589 1,237 1,186
Prepayment fee on Federal Home Loan Bank advance 9,270 8,485 17,976 17,576
Loss (gain) on other real estate owned 1,209 404 2,153 1,474
Other operating expenses 48 (148) 50 (99)
Net income $ 1,161 $ 552 $ 2,103 $ 1,573
Basic Earnings per Share:        
Basic earnings per share 4,984,151 4,959,009 4,980,728 4,959,009
Weighted average shares outstanding $ 0.23 $ 0.11 $ 0.42 $ 0.32
Diluted Earnings per Share:        
Diluted earnings per share 4,996,880 4,959,009 4,993,916 4,959,009
Weighted average shares outstanding $ 0.23 $ 0.11 $ 0.42 $ 0.32