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Consolidated Statements of Net Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest and dividend income:        
Loans receivable, including fees $ 6,678 $ 5,801 $ 13,015 $ 11,367
Securities:        
Taxable 439 392 847 787
Exempt from federal income tax 141 140 293 283
Federal bank stocks 93 61 157 115
Interest earning deposits with banks 83 38 117 53
Total interest and dividend income 7,434 6,432 14,429 12,605
Interest expense:        
Deposits 1,102 749 2,093 1,452
Borrowed funds 141 318 299 632
Total interest expense 1,243 1,067 2,392 2,084
Net interest income 6,191 5,365 12,037 10,521
Provision for loan losses 300 201 680 363
Net interest income after provision for loan losses 5,891 5,164 11,357 10,158
Noninterest income:        
Fees and service charges 463 435 900 842
Net realized gain (loss) on sales of securities (2) 350 (31) 350
Net gain on sales of loans 2 124 24 130
Other-than-temporary impairment loss 0 (508) 0 (508)
Earnings on bank-owned life insurance 103 101 206 202
Other 483 366 848 707
Total noninterest income 1,049 868 1,947 1,723
Noninterest expense:        
Compensation and employee benefits 2,521 2,347 4,974 4,670
Premises and equipment 758 726 1,528 1,484
Intangible asset amortization 68 59 136 119
Professional fees 254 216 470 417
Federal deposit insurance 151 102 288 210
Acquisition costs 358 106 358 107
Other 1,135 1,121 2,227 2,291
Total noninterest expense 5,245 4,677 9,981 9,298
Income before provision for income taxes 1,695 1,355 3,323 2,583
Provision for income taxes 282 314 548 586
Net income $ 1,413 $ 1,041 $ 2,775 $ 1,997
Basic earnings per common share (in dollars per share) $ 0.62 $ 0.48 $ 1.22 $ 0.93
Diluted earnings per common share (in dollars per share) $ 0.62 $ 0.48 $ 1.21 $ 0.92
Average common shares outstanding - basic (in shares) 2,271,139 2,164,747 2,271,139 2,158,587
Average common shares outstanding - diluted (in shares) 2,288,229 2,182,761 2,286,802 2,175,523