XML 18 R4.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statement of Income (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
INTEREST AND DIVIDEND INCOME    
Interest and fees on loans $ 12,510,000 $ 11,054,000
Interest-earning deposits in other institutions 187,000 119,000
Federal funds sold 7,000 14,000
Investment securities:    
Taxable interest 179,000 169,000
Tax-exempt interest 565,000 525,000
Dividends on stock 58,000 59,000
Total interest and dividend income 13,506,000 11,940,000
INTEREST EXPENSE    
Deposits 2,945,000 1,640,000
Short-term borrowings 213,000 276,000
Other borrowings 96,000 122,000
Total interest expense 3,254,000 2,038,000
NET INTEREST INCOME 10,252,000 9,902,000
Provision for loan losses 240,000 210,000
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 10,012,000 9,692,000
NONINTEREST INCOME    
Gain on equity securities [1] 58,000 18,000
Earnings on bank-owned life insurance [1] 105,000 112,000
Gain on sale of loans [1] 37,000 4,000
Total noninterest income 1,110,000 786,000
NONINTEREST EXPENSE    
Salaries and employee benefits 4,124,000 3,979,000
Occupancy expense 553,000 536,000
Equipment expense 235,000 233,000
Data processing costs 465,000 477,000
Ohio state franchise tax 259,000 115,000
Federal deposit insurance expense 130,000 150,000
Professional fees 431,000 445,000
Advertising expense 203,000 228,000
Software amortization expense 145,000 150,000
Core deposit intangible amortization 85,000 91,000
Other expense 870,000 941,000
Total noninterest expense 7,500,000 7,345,000
Income before income taxes 3,622,000 3,133,000
Income taxes 611,000 528,000
NET INCOME $ 3,011,000 $ 2,605,000
EARNINGS PER SHARE    
Basic (in dollars per share) $ 0.93 $ 0.81
Diluted (in dollars per share) $ 0.92 $ 0.80
Deposit Account [Member]    
NONINTEREST INCOME    
Noninterest income revenue $ 508,000 $ 453,000
Financial Service, Other [Member]    
NONINTEREST INCOME    
Noninterest income revenue $ 402,000 $ 199,000
[1] Not within scope of ASC 606