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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
INTEREST INCOME        
Interest and fees on loans $ 3,269 $ 2,883 $ 9,100 $ 8,503
Interest and dividends on securities 526 498 1,585 1,523
Interest on deposits with banks and federal funds sold 67 53 165 115
Total Interest Income 3,862 3,434 10,850 10,141
INTEREST EXPENSE        
Interest on deposits 362 324 997 984
Interest on short-term borrowings 198 142 506 309
Interest on long-term borrowings   33   185
Total Interest Expense 560 499 1,503 1,478
Net Interest Income 3,302 2,935 9,347 8,663
Provision for loan losses 246 78 601 243
Net interest income after provision for loan losses 3,056 2,857 8,746 8,420
NONINTEREST INCOME        
Gains on redemption of BOLI policies     308 1
Income on life insurance 41 51 130 151
Gains on sale of OREO 15   15  
Other income       2
Total Noninterest Income 331 368 1,204 935
NONINTEREST EXPENSE        
Salary and benefits 1,710 1,579 5,080 4,615
Occupancy and equipment expenses 272 382 850 865
Legal, accounting and other professional fees 212 180 721 648
Data processing and item processing services 168 130 454 442
FDIC insurance costs 64 64 187 188
Advertising and marketing related expenses 16 38 65 110
Loan collection costs 32 25 153 73
Telephone costs 56 98 181 212
Other expenses 226 217 911 944
Total Noninterest Expenses 2,756 2,713 8,602 8,097
Income before income taxes 631 512 1,348 1,258
Income tax expense (benefit) 89 101 73 194
NET INCOME $ 542 $ 411 $ 1,275 $ 1,064
Basic and diluted net income per share of common stock (in dollars per share) $ 0.19 $ 0.15 $ 0.45 $ 0.38
Service charges on deposit accounts        
NONINTEREST INCOME        
Service charges, other fees and commissions $ 59 $ 72 $ 187 $ 208
Other fees and commissions        
NONINTEREST INCOME        
Service charges, other fees and commissions $ 216 $ 245 $ 564 $ 573