SUMMARY OF QUARTERLY RESULTS (UNAUDITED)

12 Months Ended

Dec. 31, 2018

SUMMARY OF QUARTERLY RESULTS (UNAUDITED)

18. SUMMARY OF QUARTERLY RESULTS (UNAUDITED)

18. SUMMARY OF QUARTERLY RESULTS (UNAUDITED)

The following summarizes the company’s consolidated results of operations during 2018 and 2017, on a quarterly basis:

(Dollars in thousands)

	2018
	Fourth			Third			Second			First
	Quarter			Quarter			Quarter			Quarter
Interest income	$	708		$	678		$	675		$	618
Interest expense		19			19			20			20
Net interest income		689			659			654			598
Provision (credit) for loan losses		272			20			5			20
Net interest after provision (credit) for loan losses		417			639			649			578
Noninterest income		(419	)		392			221			314
Noninterest expense		1,077			1,089			1,023			1,090
Net income (loss)	$	(1,079	)	$	(57	)	$	(152	)	$	(198	)
Basic income (loss) per common share	$	(1.31	)	$	(0.07	)	$	(0.18	)	$	(0.24	)
Diluted income (loss) per common share	$	(1.31	)	$	(0.07	)	$	(0.18	)	$	(0.24	)

(Dollars in thousands)

	2017
	Fourth			Third			Second			First
	Quarter			Quarter			Quarter			Quarter
Interest income	$	651		$	674		$	583		$	633
Interest expense		20			19			16			17
Net interest income		631			655			567			616
Provision (credit) for loan losses		9			(15	)		(46	)		(30	)
Net interest after provision (credit) for loan losses		622			670			613			646
Noninterest income		453			490			307			241
Noninterest expense		1,105			1,131			1,035			1,090
Net (loss) income	$	(30	)	$	29		$	(115	)	$	(203	)
Basic (loss) income per common share	$	(0.03	)	$	0.03		$	(0.14	)	$	(0.25	)
Diluted (loss) income per common share	$	(0.03	)	$	0.03		$	(0.14	)	$	(0.25	)