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Consolidated Statements of Net Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest and dividend income:        
Loans receivable, including fees $ 4,382 $ 4,140 $ 13,051 $ 12,259
Securities:        
Taxable 481 521 1,525 1,417
Exempt from federal income tax 205 244 640 763
Federal bank stocks 30 33 132 112
Interest earning deposits with banks 15 30 50 68
Total interest and dividend income 5,113 4,968 15,398 14,619
Interest expense:        
Deposits 532 616 1,613 1,784
Borrowed funds 155 174 514 503
Total interest expense 687 790 2,127 2,287
Net interest income 4,426 4,178 13,271 12,332
Provision for (recovery of) loan losses (102) 163 269 508
Net interest income after provision for (recovery of) loan losses 4,528 4,015 13,002 11,824
Noninterest income:        
Fees and service charges 387 411 1,113 1,182
Commissions on financial services 14 8 24 31
Title premiums 13 16 29 40
Net gain on sales of available for sale securities 533 91 567 748
Earnings on bank-owned life insurance 98 97 293 289
Other 334 306 980 911
Total noninterest income 1,379 929 3,006 3,201
Noninterest expense:        
Compensation and employee benefits 2,003 1,825 6,122 5,599
Premises and equipment 646 634 1,970 1,837
Intangible asset amortization 49 54 146 167
Professional fees 181 142 560 488
Federal deposit insurance 92 90 287 266
Other 956 936 2,817 3,251
Total noninterest expense 3,927 3,681 11,902 11,608
Income before provision for income taxes 1,980 1,263 4,106 3,417
Provision for income taxes 460 241 877 675
Net income 1,520 1,022 3,229 2,742
Preferred stock dividends 25 25 75 75
Net income available to common stockholders $ 1,495 $ 997 $ 3,154 $ 2,667
Basic earnings per common share (in dollars per share) $ 0.7 $ 0.56 $ 1.64 $ 1.51
Diluted earnings per common share (in dollars per share) $ 0.7 $ 0.56 $ 1.63 $ 1.49
Average common shares outstanding - basic (in shares) 2,136,749 1,770,821 1,928,789 1,770,128
Average common shares outstanding - diluted (in shares) 2,148,713 1,787,231 1,939,708 1,784,837