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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest income:        
Loans $ 7,742 $ 7,479 $ 22,267 $ 21,847
Securities 330 280 927 890
Other earning assets 167 83 498 251
Total interest income 8,239 7,842 23,692 22,988
Interest expense:        
Deposits 1,011 1,019 2,924 3,002
Borrowings and subordinated debentures 897 1,106 2,844 3,493
Total interest expense 1,908 2,125 5,768 6,495
Net interest income 6,331 5,717 17,924 16,493
Provision for (reversal of) loan losses 0 50 (650) 150
Net interest income after provision for (reversal of) loan losses 6,331 5,667 18,574 16,343
Noninterest income:        
Mortgage-banking revenue 334 1,042 1,150 2,693
Real estate commissions 311 455 959 1,246
Real estate management fees 197 214 513 564
Credit report and appraisal fees 137 99 390 304
Deposit service charges 190 32 265 105
Other noninterest income 230 54 485 667
Total noninterest income 1,399 1,896 3,762 5,579
Noninterest expense:        
Compensation and related expenses 3,288 3,928 10,719 11,218
Occupancy 354 333 1,015 942
Legal fees 41 81 104 217
Write-downs, losses, and costs of real estate acquired through foreclosure, net 126 41 166 184
Federal Deposit Insurance Corporation insurance premiums 69 126 133 296
Professional fees 124 189 377 528
Advertising 198 158 649 510
Online charges 237 117 661 617
Credit report and appraisal fees 203 148 478 480
Licensing and software 152 115 326 345
Mortgage leads purchased 48 205 234 559
Other 681 689 2,158 2,405
Total noninterest expense 5,521 6,130 17,020 18,301
Income before income tax provision (benefit) 2,209 1,433 5,316 3,621
Income tax provision (benefit) 950 378 2,150 (10,816)
Net income 1,259 1,055 3,166 14,437
Amortization of discount on preferred stock (68) (68) (203) (203)
Dividends on preferred stock (70) (448) (210) (1,370)
Net income available to common stockholders $ 1,121 $ 539 $ 2,753 $ 12,864
Net income per common share - basic (in dollars per share) $ 0.09 $ 0.04 $ 0.23 $ 1.14
Net income per common share - diluted (in dollars per share) $ 0.09 $ 0.04 $ 0.22 $ 1.13