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Consolidated Statements of Net Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest and dividend income:        
Loans receivable, including fees $ 5,801 $ 5,185 $ 11,367 $ 9,887
Securities:        
Taxable 392 441 787 874
Exempt from federal income tax 140 156 283 316
Federal bank stocks 61 52 115 87
Interest earning deposits with banks 38 43 53 62
Total interest and dividend income 6,432 5,877 12,605 11,226
Interest expense:        
Deposits 749 721 1,452 1,309
Borrowed funds 318 296 632 540
Total interest expense 1,067 1,017 2,084 1,849
Net interest income 5,365 4,860 10,521 9,377
Provision for loan losses 201 121 363 302
Net interest income after provision for loan losses 5,164 4,739 10,158 9,075
Noninterest income:        
Fees and service charges 435 386 842 731
Net gain on sales of available for sale securities 350 81 350 83
Net gain on sales of loans 124 0 130 0
Other-than-temporary impairment loss (508) 0 (508) 0
Earnings on bank-owned life insurance 101 100 202 198
Other 366 375 707 710
Total noninterest income 868 942 1,723 1,722
Noninterest expense:        
Compensation and employee benefits 2,347 2,177 4,670 4,225
Premises and equipment 726 692 1,484 1,378
Intangible asset amortization 59 56 119 105
Professional fees 216 190 417 373
Federal deposit insurance 102 89 210 182
Acquisition costs 106 92 107 401
Other 1,121 1,168 2,291 1,818
Total noninterest expense 4,677 4,464 9,298 8,482
Income before provision for income taxes 1,355 1,217 2,583 2,315
Provision for income taxes 314 287 586 583
Net income $ 1,041 $ 930 $ 1,997 $ 1,732
Basic earnings per common share (in dollars per share) $ 0.48 $ 0.43 $ 0.93 $ 0.81
Diluted earnings per common share (in dollars per share) $ 0.48 $ 0.43 $ 0.92 $ 0.80
Average common shares outstanding - basic (in shares) 2,164,747 2,146,160 2,158,587 2,145,484
Average common shares outstanding - diluted (in shares) 2,182,761 2,156,378 2,175,523 2,154,708