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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 and fees on loans $ 6,009 $ 4,802 $ 17,336 $ 14,162
Interest and dividends on investment securities:        
Taxable interest 522 508 1,553 1,613
Nontaxable interest 355 491 1,140 1,420
Dividends 35 31 109 92
Other interest income 41 30 122 76
Total interest and dividend income 6,962 5,862 20,260 17,363
INTEREST EXPENSE        
Deposits 909 659 2,548 1,871
Short-term borrowings 1 2 4 5
Federal Home Loan Bank advances - short term 107 43 252 118
Federal Home Loan Bank advances - long term 81 61 205 247
Subordinated debt 50 35 138 101
Total interest expense 1,148 800 3,147 2,342
Net interest income 5,814 5,062 17,113 15,021
PROVISION FOR LOAN LOSSES 75 100 650 100
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 5,739 4,962 16,463 14,921
NON-INTEREST INCOME        
Investment securities available-for-sale (losses) gains, net   (7) (21) 24
Mortgage banking gains, net 272 315 771 831
Earnings on bank-owned life insurance 82 967 1,790 1,124
Wealth management 10 15 29 29
Other real estate gains   170   170
Other non-interest income 215 144 460 396
Total non-interest income 1,148 2,187 4,737 4,219
NON-INTEREST EXPENSES        
Salaries and employee benefits 2,592 2,673 7,659 8,036
Occupancy and equipment 536 580 1,683 1,783
State and local taxes 123 115 373 348
FDIC insurance 44 50 132 154
Professional fees 254 175 652 534
Advertising and marketing 76 122 239 382
Data processing fees 56 64 183 190
Other operating expenses 848 886 2,519 2,571
Total non-interest expenses 4,529 4,665 13,440 13,998
INCOME BEFORE FEDERAL INCOME TAX EXPENSE 2,358 2,484 7,760 5,142
Federal income tax expense 386 337 949 813
NET INCOME $ 1,972 $ 2,147 $ 6,811 $ 4,329
EARNINGS PER SHARE BASIC AND DILUTED $ 0.46 $ 0.49 $ 1.56 $ 0.98
CASH DIVIDENDS DECLARED PER SHARE $ 0.16 $ 0.08 $ 0.38 $ 0.31
Fees for customer services        
NON-INTEREST INCOME        
Revenue $ 569 $ 583 $ 1,708 $ 1,645