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Income Statement

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 2013 Y2014 Y2015 Y2016 Y2017 Q1 YTD
Source Document9/30/20149/30/20159/30/20169/30/201612/31/2016
Currency CodeUSDUSDUSDUSDUSD
(in thousands)     
      
INTEREST INCOME 
Loans, including fees 21,12620,96121,43922,8766,346
Securities 
Taxable 4,2554,5234,1113,826937
Tax-exempt 1,5651,7302,0862,335627
Dividend income 20024530331079
Interest-bearing deposits with banks 29354810922
Total interest income 27,17527,49427,98729,4568,011
INTEREST EXPENSE 
Deposits 2,7992,3812,4272,490612
Federal funds purchased NANA013
Repurchase agreements 63331
Borrowings from Federal Home Loan Bank 1,0599681,1721,512406
Loans payable 722031761610
Total interest expense 3,9363,5553,7784,1671,022
Net interest income 23,23923,93924,20925,2896,989
Provision for loan losses 1,8581,246859637306
Net interest income after provision for loan losses 21,38122,69323,35024,6526,683
NONINTEREST INCOME 
Service charges on deposit accounts 1,2511,2631,3261,221336
Net gain on sales of available for sale securities 1123NANANA
Net gain (loss) on trading account securities 464704440748(282)
Unrealized loss on derivative contract 0NANANANA
Net gain on sales of loans 5102874111,145NA
Net unrealized gain on loans held for sale NANA4130NA
Net gain on sales of loans, residential mortgage NANANANA151
Net gain on sales of loans, Small Business Administration NANANANA854
Increase in cash surrender value of life insurance 387496479448109
Gain on life insurance NA08310189
Commission income 29333137336966
Real estate lease income 3175686284890
Net gain on sale of premises and equipment NANA01687
Net gain on sale of real estate development NANA01,862NA
Loss on tax credit investment NANA0(4,236)NA
Other income 1,0351,2741,0751,158445
Total noninterest income 4,2585,0465,9763,3721,875
NONINTEREST EXPENSE 
Compensation and benefits 10,51011,16711,80912,8583,541
Occupancy and equipment 2,2602,5552,6222,698600
Data processing 1,1861,2371,3901,587374
Advertising 449400530545107
Professional fees 9141,2761,1721,259205
FDIC insurance premiums 473443460502110
Net (gain) loss on other real estate owned 181230128(90)
Other operating expenses 3,1592,9643,0152,958693
Total noninterest expense 19,13220,27220,99922,4355,540
Income before income taxes 6,5077,4678,3275,5893,018
Income tax expense 1,8112,0771,576(2,322)681
Net Income 4,6965,3906,7517,9112,337
Preferred stock dividends declared 171171171620
Net Income Available to Common Shareholders 4,5255,2196,5807,8492,337
Net income per common share 
Basic 2.092.463.073.571.06
Diluted 1.992.342.933.411.0
Weighted average common shares outstanding 
Basic 2,168,7702,122,8802,140,6322,200,2582,205,309
Diluted 2,269,0632,229,3142,247,9662,303,6282,329,514
Dividends per common share 0.70.430.470.510.13
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) 
Net Income 4,6965,3906,7517,9112,337
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX 
Unrealized gains (losses) on securities available for sale 
Unrealized holding gains (losses) arising during the period (6,443)3,7955492,631(5,484)
Less - reclassification adjustment for realized gains included in net income (1)(123)NANANA
Income tax benefit (expense) 148(192)(897)1,921
Net of tax amount (4,141)2,4603571,734(3,563)
Other Comprehensive Income (Loss) (4,141)2,3853571,734(3,563)
Comprehensive Income (Loss) 5557,7757,1089,645(1,226)


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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