| Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|
Interest and dividend income: | |||||||||
Loans | |||||||||
31,709 | 28,167 | 25,778 | 25,300 | 26,025 | 26,741 | 29,828 | 33,493 | 38,037 | 38,921 |
Investment in taxable securities available for sale | |||||||||
4,080 | 4,478 | 4,595 | 6,149 | 6,548 | 6,873 | - | - | - | - |
Securities available for sale | |||||||||
- | - | - | - | - | - | 8,722 | 10,465 | 11,911 | 12,635 |
Securities held to maturity | |||||||||
- | - | - | - | - | - | - | - | - | 12 |
Nontaxable securities available for sale | |||||||||
797 | 1,014 | 1,308 | 1,651 | 2,081 | 2,219 | 2,266 | 2,263 | 2,457 | 1,565 |
Interest-bearing deposits | |||||||||
145 | 96 | 46 | 22 | 26 | 24 | - | - | - | - |
Interest-earning deposits | |||||||||
- | - | - | - | - | - | 24 | 19 | 12 | 8 |
Total interest and dividend income | |||||||||
36,731 | 33,755 | 31,727 | 33,122 | 34,680 | 35,857 | 40,840 | 46,240 | 52,417 | 53,141 |
Interest expense: | |||||||||
Deposits | |||||||||
6,276 | 4,810 | 4,240 | 5,031 | 5,603 | 7,114 | 10,571 | 14,207 | 17,384 | 20,833 |
FHLB borrowings | |||||||||
623 | 248 | 163 | 289 | 1,665 | 1,780 | 2,609 | 2,557 | 3,292 | 4,070 |
Repurchase agreements | |||||||||
736 | 469 | 508 | 491 | 874 | 954 | 963 | 909 | 831 | 767 |
Subordinated debentures | |||||||||
539 | 436 | 388 | 739 | 737 | 733 | 734 | 742 | 739 | 642 |
Total interest expense | |||||||||
8,174 | 5,963 | 5,299 | 6,550 | 8,879 | 10,581 | 14,877 | 18,415 | 22,246 | 26,312 |
Net interest income | |||||||||
28,557 | 27,792 | 26,428 | 26,572 | 25,801 | 25,276 | 25,963 | 27,825 | 30,171 | 26,829 |
Provision for loan losses | |||||||||
288 | 477 | 1,241 | 1,051 | - | - | - | - | - | - |
Provision for loan losses | |||||||||
- | - | - | - | -2,273 | 1,604 | 2,275 | 5,921 | 5,970 | 4,199 |
Net interest income after provision for loan losses | |||||||||
28,269 | 27,315 | 25,187 | 25,521 | 28,074 | 23,672 | 23,688 | 21,904 | 24,201 | 22,630 |
Non-interest income: | |||||||||
Service charges | |||||||||
2,938 | 3,224 | 2,788 | - | - | - | - | - | - | - |
Other-than-temporary impairment losses on debt securities | |||||||||
- | - | - | - | - | 511 | - | 155 | - | 200 |
Portion of losses recognized in other comprehensive income | |||||||||
- | - | - | - | - | 111 | - | - | - | - |
Net impairment losses recognized in earnings (note 2) | |||||||||
- | - | - | - | - | 400 | - | 155 | - | - |
Net impairment losses recognized in earnings | |||||||||
- | - | - | - | - | - | - | 155 | - | - |
Service charges | |||||||||
- | - | - | 2,925 | 3,354 | 3,670 | 3,840 | 3,813 | 3,922 | 4,222 |
Merchant card | |||||||||
1,279 | 1,222 | 1,224 | 1,130 | 1,075 | 983 | 842 | 768 | 698 | 612 |
Mortgage origination revenue | |||||||||
1,434 | 1,321 | 1,585 | 1,175 | 719 | 634 | 956 | - | - | - |
Mortgage origination revenue | |||||||||
- | - | - | - | - | - | - | 720 | 590 | 271 |
Gain on sale of securities | |||||||||
553 | 169 | 612 | 691 | 578 | 1,661 | 1,671 | 2,897 | 3,504 | 2,715 |
Income from bank owned life insurance | |||||||||
304 | 483 | 343 | 335 | 307 | 354 | 399 | 316 | 344 | 481 |
Income from financial services | |||||||||
677 | 536 | 614 | 685 | 980 | 1,250 | - | - | - | - |
Financial services commission | |||||||||
- | - | - | - | - | - | 1,071 | 894 | 971 | 983 |
Other operating income | |||||||||
632 | 1,075 | 769 | 661 | 827 | 808 | 860 | 940 | 1,077 | 1,141 |
Total non-interest income | |||||||||
7,817 | 8,030 | 7,935 | 7,602 | 7,840 | 9,372 | 9,639 | 10,193 | 11,106 | 10,225 |
Non-interest expenses: | |||||||||
Salaries and benefits | |||||||||
16,064 | 16,049 | 15,400 | 15,810 | 15,222 | 14,733 | 13,979 | 13,266 | 12,762 | 12,240 |
Occupancy | |||||||||
3,012 | 2,920 | 3,173 | 3,077 | 3,217 | 3,475 | 3,531 | 3,269 | 3,158 | 3,074 |
Data processing | |||||||||
3,168 | 2,884 | 2,942 | 2,827 | 2,887 | 2,695 | 2,494 | 2,645 | 2,807 | 2,595 |
State deposit tax | |||||||||
699 | 770 | 990 | 1,018 | 1,336 | 581 | - | 627 | 640 | 619 |
Franchise and deposit tax | |||||||||
- | - | - | - | - | - | 647 | - | - | - |
Intangible amortization | |||||||||
- | - | - | - | 97 | 162 | 227 | 291 | 358 | 650 |
Goodwill impairment (note 5) | |||||||||
- | - | - | - | - | - | - | - | - | 4,989 |
Professional services | |||||||||
1,711 | 2,316 | 1,404 | 1,506 | 1,331 | 1,773 | 1,605 | 1,372 | 1,225 | 1,002 |
Advertising | |||||||||
1,204 | 1,354 | 1,401 | 1,302 | 1,341 | 1,236 | 1,357 | 1,235 | 1,115 | 1,304 |
Loss on sale of loan note | |||||||||
- | - | - | - | -1,781 | - | - | - | - | - |
Loss on early debt extinguishment | |||||||||
- | - | - | - | -2,510 | - | - | - | - | - |
Foreclosure, net | |||||||||
72 | 9 | 448 | 1,227 | - | - | - | - | - | - |
Postage and communications | |||||||||
- | - | - | - | 577 | 567 | 562 | 549 | 557 | 616 |
Supplies | |||||||||
- | - | - | - | 627 | 495 | 355 | 399 | 404 | 363 |
Deposit insurance and examination fees | |||||||||
- | - | - | - | 724 | 727 | 1,539 | 2,021 | 2,107 | 2,026 |
Loss (gain) on sale of premises and equipment | |||||||||
-10 | -2 | 72 | -1 | -25 | - | - | - | - | - |
Loss on sale of assets | |||||||||
- | - | - | - | - | -12 | -13 | -145 | - | - |
Loss (gain) on real estate owned | |||||||||
- | - | - | - | - | -140 | -266 | -1,703 | 321 | - |
Foreclosure, net | |||||||||
- | - | - | - | 474 | 402 | 123 | 276 | 264 | 241 |
Gain on sale of fixed assets | |||||||||
- | - | - | - | - | 412 | - | - | - | - |
Other | |||||||||
3,410 | 3,592 | 4,170 | 3,677 | 1,767 | 1,640 | 1,743 | 895 | 1,102 | 764 |
Total non-interest expense | |||||||||
29,350 | 29,896 | 29,856 | 30,445 | 33,916 | 28,638 | 28,441 | 28,693 | 26,178 | 30,483 |
Net income before income tax expense | |||||||||
6,736 | 5,449 | 3,266 | 2,678 | 1,998 | 4,406 | - | - | - | - |
Income before income tax expense | |||||||||
- | - | - | - | - | - | 4,886 | 3,404 | 9,129 | 2,372 |
Income tax expense | |||||||||
1,067 | 2,148 | 362 | 274 | -201 | 644 | 817 | 484 | 2,613 | 397 |
Net income | |||||||||
5,669 | 3,301 | 2,904 | 2,404 | 2,199 | 3,762 | 4,069 | - | - | - |
Net income | |||||||||
- | - | - | - | - | - | - | 2,920 | 6,516 | 1,975 |
Less: Dividend on preferred shares | |||||||||
- | - | - | - | - | - | 1,007 | 920 | 920 | 920 |
Accretion dividend on preferred shares | |||||||||
- | - | - | - | - | - | 222 | 111 | 111 | 111 |
Net income available for common shareholders | |||||||||
- | - | - | - | - | - | 2,840 | 1,889 | 5,485 | 944 |
Earnings per share: | |||||||||
Basic | |||||||||
0.91 | 0.53 | 0.47 | 0.38 | 0.30 | 0.50 | 0.38 | 0.25 | 0.96 | 0.25 |
Diluted | |||||||||
0.91 | 0.53 | 0.47 | 0.38 | 0.30 | 0.50 | 0.38 | 0.25 | 0.96 | 0.25 |
Weighted average shares outstanding - basic | |||||||||
6,233 | 6,221 | 6,233 | 6,372 | 7,306 | 7,483 | 7,486 | 7,460 | 5,732 | 3,714 |
Weighted average shares outstanding - diluted | |||||||||
6,233 | 6,221 | 6,233 | 6,372 | 7,306 | 7,483 | 7,486 | 7,460 | 5,732 | 3,714 |