| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||
|---|---|---|---|---|---|---|
Interest and dividend income: | ||||||
Loans | ||||||
23,631 | 19,541 | 15,099 | 12,438 | 10,488 | ||
Securities-taxable | ||||||
1,467 | 1,318 | 1,259 | 1,260 | 1,512 | ||
Securities-tax exempt | ||||||
43 | 120 | 347 | 366 | 409 | ||
Interest-bearing deposits and certificates of deposit | ||||||
90 | 305 | 235 | 151 | 73 | ||
Total interest and dividend income | ||||||
25,231 | 21,284 | 16,940 | 14,215 | 12,482 | ||
Interest expense: | ||||||
Deposits | ||||||
5,328 | 3,070 | 1,556 | 1,345 | 1,188 | ||
Federal Home Loan Bank of Boston advances | ||||||
2,070 | 1,518 | 554 | 261 | 168 | ||
Total interest expense | ||||||
7,398 | 4,588 | 2,110 | 1,606 | 1,356 | ||
Net interest income | ||||||
17,833 | 16,696 | 14,830 | 12,609 | 11,126 | ||
Provision for loan losses | ||||||
- | 762 | 540 | 103 | -137 | ||
Net interest income after provision for loan losses | ||||||
17,833 | 15,934 | 14,290 | 12,506 | 11,263 | ||
Non-interest income: | ||||||
Customer service fees | ||||||
1,407 | 1,464 | 1,455 | - | - | ||
Gain on loan origination and sale activities, net | ||||||
18,900 | 7,539 | 9,151 | - | - | ||
Customer service fees | ||||||
- | - | - | 1,502 | 1,572 | ||
Net gain on sales of mortgage loans | ||||||
- | - | - | 10,381 | 2,567 | ||
Mortgage servicing fees, net | ||||||
394 | 1,264 | 1,473 | 430 | 234 | ||
Gain (loss) on sales/calls of securities and impairment write-down, net | ||||||
16 | -11 | - | - | - | ||
Gain on sales of securities | ||||||
- | - | - | 162 | -7 | ||
Increase in cash surrender value of life insurance | ||||||
185 | 218 | 153 | 172 | 236 | ||
Gain on sales of buildings | ||||||
- | 2,476 | - | - | - | ||
Gain on life insurance settlement | ||||||
- | - | - | 486 | 402 | ||
Bargain purchase gain | ||||||
- | - | - | 1,276 | - | ||
Other | ||||||
761 | 733 | 731 | 621 | 67 | ||
Total non-interest income | ||||||
21,663 | 13,683 | 12,963 | 15,030 | 5,071 | ||
Non-interest expenses: | ||||||
Salaries and employee benefits | ||||||
24,896 | 19,765 | 18,731 | 15,168 | 9,270 | ||
Occupancy and equipment | ||||||
2,783 | 2,873 | 2,655 | 2,128 | 1,725 | ||
Data processing | ||||||
810 | 692 | 758 | 761 | 1,089 | ||
Professional fees | ||||||
1,185 | 1,164 | 1,344 | 1,378 | 1,002 | ||
Marketing | ||||||
967 | 1,141 | 989 | 448 | 382 | ||
Foreclosed real estate, net | ||||||
- | - | - | 168 | 123 | ||
FDIC insurance | ||||||
- | - | 145 | 246 | 297 | ||
Restructuring charges | ||||||
- | 968 | 594 | - | - | ||
Charitable foundation contribution | ||||||
- | - | - | 2,275 | - | ||
Merger and integration costs | ||||||
- | - | 531 | 980 | 611 | ||
Other | ||||||
5,309 | 5,069 | 4,075 | 3,508 | 2,697 | ||
Total non-interest expenses | ||||||
35,950 | 31,672 | 29,822 | 27,060 | 17,196 | ||
Loss before income taxes | ||||||
3,546 | -2,055 | -2,569 | 476 | -862 | ||
Income tax expense (benefit) | ||||||
118 | 31 | -443 | 13 | -108 | ||
Net loss | ||||||
3,428 | -2,086 | -2,126 | 463 | -754 | ||
Weighted average common shares outstanding (basic and diluted) | ||||||
5,383 | 5,570 | 5,468 | - | - | ||
Loss per common share (basic and diluted) | ||||||
0.64 | -0.37 | -0.39 | - | - | ||