Income Statement

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  2013 Y 2014 Y 2015 Y 2016 Y
Source Document 12/31/2014 12/31/2015 12/31/2016 12/31/2016
Currency Code USD USD USD USD
(in thousands)        
         
Interest Income 
Loans, including fees  7,203 7,394 8,119 8,133
Investments 
Taxable  484 781 1,272 1,339
Tax-exempt  151 158 113 93
Mortgage-backed securities  481 767 1,107 1,023
Total interest income  8,319 9,100 10,611 10,588
Interest Expense 
Deposits  826 818 941 941
Borrowings  324 264 304 343
Total interest expense  1,150 1,082 1,245 1,284
Net Interest Income - Before (recovery of) provision for loan losses  7,169 8,018 9,366 9,304
(Recovery of) Provision for Loan Losses  637 284 (535) 95
Net Interest Income - After (recovery of) provision for loan losses  6,532 7,734 9,901 9,209
Other Income 
Service charges and other fees  857 807 947 967
Net gain on sale of investments  0 (4) 4 134
Net gain on sale of loans  235 206 300 263
Net gain on sale of premises and equipment, real estate owned and other repossessed assets  3 (76) 80 55
Loan servicing fees  350 266 232 237
Insurance and brokerage commissions  126 117 NA NA
Bargain purchase gain  0 1,982 NA NA
Other  194 180 433 295
Total other income  1,765 3,478 1,996 1,951
Operating Expenses 
Compensation and employee benefits  4,654 4,961 5,831 5,833
FDIC insurance premiums  184 207 251 194
Advertising  130 183 164 184
Occupancy and equipment  911 1,032 1,145 1,172
Amortization of intangible assets  119 146 243 217
Data processing service bureau  301 345 436 493
Professional fees  427 393 555 442
Collection activity  153 68 94 78
Real estate owned and other repossessed assets  245 272 298 117
Merger related expenses  83 266 NA NA
Other  1,035 1,090 1,102 1,116
Total operating expenses  8,242 8,963 10,119 9,846
Income - before income tax benefit  55 2,249 1,778 1,314
Income tax benefit  0 0 (1,650) 0
Net income  55 2,249 3,428 1,314
Other Comprehensive Income 
Unrealized loss on securities available for sale - net of tax  (907) 594 (253) (1,080)
Reclassification adjustment for gains realized in earnings - net of tax  0 (3) 3 (90)
Comprehensive Income  (852) 2,840 3,178 144
Per Share Data 
Net income per share 
Basic  0.02 NA NA NA
Diluted  0.02 NA NA NA
Dividends per common share  0.02 NA NA NA


Data shown on this page is extracted directly from the company’s documents. SNL makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, SNL, as always, stands by its commitment to the quality of the data.

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