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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
INTEREST AND DIVIDEND INCOME        
Interest and fees on loans $ 5,739 $ 4,742 $ 11,327 $ 9,360
Interest and dividends on investment securities:        
Taxable interest 539 539 1,031 1,105
Nontaxable interest 356 460 785 929
Dividends 40 34 74 61
Other interest income 53 30 81 46
Total interest and dividend income 6,727 5,805 13,298 11,501
INTEREST EXPENSE        
Deposits 850 626 1,639 1,212
Short-term borrowings 2 2 3 3
Federal Home Loan Bank advances - short term 54 38 145 75
Federal Home Loan Bank advances - long term 66 82 124 186
Subordinated debt 48 35 88 66
Total interest expense 1,020 783 1,999 1,542
Net interest income 5,707 5,022 11,299 9,959
PROVISION FOR LOAN LOSSES 75   575  
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 5,632 5,022 10,724 9,959
NON-INTEREST INCOME        
Investment securities available-for-sale gains (losses), net (41) 22 (21) 31
Mortgage banking gains, net 261 322 499 516
Earnings on bank-owned life insurance 1,631 82 1,708 157
Wealth management 10 7 19 14
Other non-interest income 132 145 245 252
Total non-interest income 2,577 1,132 3,589 2,032
NON-INTEREST EXPENSES        
Salaries and employee benefits 2,617 2,621 5,067 5,363
Occupancy and equipment 550 588 1,147 1,203
State and local taxes 125 118 250 233
FDIC insurance 44 51 88 104
Professional fees 209 198 398 359
Advertising and marketing 89 158 163 260
Data processing fees 64 65 127 126
Other operating expenses 887 887 1,671 1,685
Total non-interest expenses 4,585 4,686 8,911 9,333
INCOME BEFORE FEDERAL INCOME TAX EXPENSE 3,624 1,468 5,402 2,658
Federal income tax expense 322 286 563 476
NET INCOME $ 3,302 $ 1,182 $ 4,839 $ 2,182
EARNINGS PER SHARE BASIC AND DILUTED $ 0.75 $ 0.26 $ 1.10 $ 0.49
CASH DIVIDENDS DECLARED PER SHARE $ 0.11 $ 0.08 $ 0.22 $ 0.23
Fees for customer services        
NON-INTEREST INCOME        
Revenue $ 584 $ 554 $ 1,139 $ 1,062