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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
INTEREST INCOME    
Federal funds sold, interest-bearing deposits and repos $ 221 $ 205
FHLB stock 116 134
Securities:    
Taxable 475 492
Tax-exempt 29 31
Total securities 504 523
Loans:    
SBA loans 995 1,183
Commercial loans 9,069 7,726
Residential mortgage loans 5,560 4,340
Consumer loans 2,035 1,529
Total loans 17,659 14,778
Total interest income 18,500 15,640
INTEREST EXPENSE    
Interest-bearing demand deposits 409 224
Savings deposits 1,119 776
Time deposits 2,008 1,000
Borrowed funds and subordinated debentures 749 768
Total interest expense 4,284 2,768
Net interest income 14,216 12,872
Provision for loan losses 500 500
Net interest income after provision for loan losses 13,716 12,372
NONINTEREST INCOME    
Branch fee income 368 330
Service and loan fee income 442 564
Gain on sale of SBA loans held for sale, net 316 547
Gain on sale of mortgage loans, net 350 424
BOLI income 151 171
Net security gains (losses) 100 (15)
Other income 293 265
Total noninterest income 2,020 2,286
NONINTEREST EXPENSE    
Compensation and benefits 4,845 4,834
Occupancy 694 690
Processing and communications 716 689
Furniture and equipment 657 536
Professional services 288 251
Loan collection and OREO expenses 66 6
Other loan expenses 46 33
Deposit insurance 167 186
Advertising 348 319
Director fees 163 162
Other expenses 486 488
Total noninterest expense 8,476 8,194
Income before provision for income taxes 7,260 6,464
Provision for income taxes 1,520 1,235
Net income $ 5,740 $ 5,229
Net income per common share - Basic (in dollars per share) $ 0.53 $ 0.49
Net income per common share - Diluted (in dollars per share) $ 0.52 $ 0.48
Weighted average common shares outstanding - Basic (in shares) 10,801 10,678
Weighted average common shares outstanding - Diluted (in shares) 10,955 10,853