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Consolidated Statements of Net Income (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Interest and dividend income:    
Loans receivable, including fees $ 8,231,000 $ 6,337,000
Securities:    
Taxable 492,000 408,000
Exempt from federal income tax 122,000 152,000
Federal bank stocks 100,000 64,000
Interest earning deposits with banks 47,000 33,000
Total interest and dividend income 8,992,000 6,994,000
Interest expense:    
Deposits 1,471,000 991,000
Borrowed funds 301,000 158,000
Total interest expense 1,772,000 1,149,000
Net interest income 7,220,000 5,845,000
Provision for loan losses 180,000 380,000
Net interest income after provision for loan losses 7,040,000 5,465,000
Noninterest income:    
Fees and service charges 555,000 437,000
Net realized gain (loss) on sales of securities 2,000 (7,000)
Net gain on sales of loans 14,000 22,000
Earnings on bank-owned life insurance 95,000 104,000
Other 391,000 343,000
Total noninterest income 1,057,000 899,000
Noninterest expense:    
Compensation and employee benefits 2,917,000 2,453,000
Premises and equipment 886,000 770,000
Intangible asset amortization 46,000 69,000
Professional fees 221,000 216,000
Federal deposit insurance 136,000 137,000
Other 1,353,000 1,091,000
Total noninterest expense 5,559,000 4,736,000
Income before provision for income taxes 2,538,000 1,628,000
Provision for income taxes 456,000 266,000
Net income $ 2,082,000 $ 1,362,000
Basic earnings per common share (in dollars per share) $ 0.77 $ 0.60
Diluted earnings per common share (in dollars per share) $ 0.77 $ 0.60
Average common shares outstanding - basic (in shares) 2,698,712 2,271,139
Average common shares outstanding - diluted (in shares) 2,712,418 2,285,315