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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
INTEREST INCOME    
Interest and fees on loans $ 2,872 $ 2,774
Interest and dividends on securities 524 518
Interest on deposits with banks and federal funds sold 48 31
Total Interest Income 3,444 3,323
INTEREST EXPENSE    
Interest on deposits 309 333
Interest on short-term borrowings 143 82
Interest on long-term borrowings   76
Total Interest Expense 452 491
Net Interest Income 2,992 2,832
Provision for loan losses 360 195
Net interest income after provision for loan losses 2,632 2,637
NONINTEREST INCOME    
Gains on redemption of BOLI policies 207  
Income on life insurance 44 49
Other income   2
Total Noninterest Income 486 279
NONINTEREST EXPENSE    
Salary and benefits 1,721 1,421
Occupancy and equipment expenses 305 298
Legal, accounting and other professional fees 232 206
Data processing and item processing services 132 168
FDIC insurance costs 58 60
Advertising and marketing related expenses 17 31
Loan collection costs 41 18
Telephone costs 57 55
Other expenses 272 314
Total Noninterest Expenses 2,835 2,571
Income before income taxes 283 345
Income tax expense (benefit) 28 29
NET INCOME $ 255 $ 316
Basic and diluted net income per share of common stock (in dollars per share) $ 0.09 $ 0.11
Service charges on deposit accounts    
NONINTEREST INCOME    
Service charges, other fees and commissions $ 67 $ 67
Other fees and commissions    
NONINTEREST INCOME    
Service charges, other fees and commissions $ 168 $ 161