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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income:        
Loans $ 9,146 $ 8,844 $ 27,539 $ 25,731
Securities 224 293 724 920
Other earning assets 484 423 2,358 787
Total interest income 9,854 9,560 30,621 27,438
Interest expense:        
Deposits 1,732 1,531 5,499 3,938
Borrowings and subordinated debentures 473 684 1,543 2,244
Total interest expense 2,205 2,215 7,042 6,182
Net interest income 7,649 7,345 23,579 21,256
Reversal of provision for loan losses (500) (300) (500) (300)
Net interest income after reversal of provision for loan losses 8,149 7,645 24,079 21,556
Noninterest income:        
Mortgage-banking revenue 1,108 740 2,915 1,970
Real estate commissions 430 408 1,290 1,153
Real estate management fees 144 157 470 527
Deposit service charges 565 426 1,621 1,067
Title company revenue 362 316 841 751
Other noninterest income 204 214 551 654
Total noninterest income 2,813 2,261 7,688 6,122
Noninterest expense:        
Compensation and related expenses 5,065 4,661 14,499 13,359
Occupancy 379 416 1,183 1,151
Legal fees 59 37 134 79
Write-downs, losses, and costs of real estate acquired through foreclosure, net of gains 105 7 254 21
Federal Deposit Insurance Corporation insurance premiums 58 58 177 171
Professional fees 255 109 838 323
Advertising 235 302 635 751
Data processing 414 286 1,110 805
Credit report and appraisal fees 69 99 133 140
Licensing and software 266 129 741 407
Other noninterest expense 765 853 2,229 2,250
Total noninterest expense 7,670 6,957 21,933 19,457
Net income before income tax provision 3,292 2,949 9,834 8,221
Income tax provision 911 784 2,668 2,253
Net income 2,381 2,165 7,166 5,968
Dividends on preferred stock       (70)
Net income available to common stockholders $ 2,381 $ 2,165 $ 7,166 $ 5,898
Net income per common share - basic (in dollars per share) $ 0.19 $ 0.17 $ 0.56 $ 0.47
Net income per common share - diluted (in dollars per share) $ 0.19 $ 0.17 $ 0.56 $ 0.47