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Income Statement

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 2014 Y2015 Y2016 Y2017 Y2018 Q1 YTD
Source Document12/31/201512/31/201612/31/201712/31/20173/31/2018
(in thousands)     
Interest income 
Interest and fees on loans 
Taxable NA15,33317,56526,47412,241
Tax-exempt NA293451600234
Interest and dividends on investment securities available-for-sale 
Loans, including fees 15,864NANANANA
Taxable 1,1789591,9312,155523
Tax-exempt 63247632622882
Interest and dividends on investment securities 
Dividends 571383NA
Interest on interest-bearing deposits in other banks 39375312179
Interest on federal funds sold 1NA21210
Total interest income 17,77117,11120,33629,59313,169
Interest expense 
Interest on deposits 1,8531,6791,7933,4891,554
Interest on short-term borrowings 21818423030
Interest on long-term debt 250169295401176
Total interest expense 2,1241,9292,1724,1201,760
Net interest income 15,64715,18218,16425,47311,409
Provision for loan losses 5261,4724532,734390
Net interest income after provision for loan losses 15,12113,71017,71122,73911,019
Noninterest income 
Service charges, fees and commissions NA1,0211,2782,0371,228
Commission and fees on fiduciary activities NA85118344210
Wealth management income NA748825832154
Mortgage banking income NA403597660170
Service charges on deposit accounts 451NANANANA
Other service charges and fees 812NANANANA
Bank owned life insurance investment income 223217345449191
Fees and commissions from securities brokerage 834NANANANA
Net loss on sale of other real estate owned (317)(260)NANANA
Loss on sale of other assets (2)NANANANA
Gain on sale of mortgage loans 315NANANANA
Net gain on sale of investment securities available-for-sale 463(17)48489NA
Total noninterest income 2,7792,1973,6474,4111,953
Noninterest expense 
Salaries and employee benefits expense 7,59910,0009,26115,1965,322
Occupancy expenses 1,355NANANANA
Equipment expenses 631NANANANA
Computer services 251NANANANA
Telecommunication and processing charges 1,182NANANANA
Postage and office supplies 394NANANANA
Loan prepayment penalty 0NANANANA
FDIC premium 364NANANANA
Bank shares tax expense 294NANANANA
Directors' compensation 452NANANANA
Professional services 329NANANANA
Net occupancy and equipment expense NA2,7002,1653,2711,122
Amortization of intangible assets 286259340538221
Net cost of operation of other real estate owned NANA331172(1)
Other expenses 1,3154,8525,2329,3832,872
Total noninterest expense 14,45217,81117,32928,5609,536
Income (loss) before income taxes 3,448(1,904)4,029(1,410)3,436
Income tax expense (benefit) 727(1,150)9623,501625
Net income (loss) 2,721(754)3,067(4,911)2,811
Other comprehensive income (loss) 
Unrealized gain (loss) on investment securities available-for-sale NA(41)(2,728)1,471(1,075)
Reclassification adjustment for net gain on sales included in net income NA17(484)(89)NA
Change in pension liability NA(344)47(54)NA
Income tax expense (benefit) related to other comprehensive income NA(125)(1,076)451(225)
Other comprehensive income (loss), net of income taxes 670(243)(2,089)877(850)
Net income (loss) 2,721NANANANA
Other comprehensive income (loss), net of tax 
Unrealized gains and losses on securities available for sale 
Net unrealized gains (losses) arising during the period, net of tax 1,328NANANANA
Reclassification adjustment for (gains) losses included in net income, net of tax (307)NANANANA
Net change in unrealized gains (losses) 1,021NANANANA
Defined benefit pension plan 
Change in benefit obligation and plan assets (351)NANANANA
Comprehensive income (loss) 3,391(997)978(4,034)1,961
Per share data 
Net income 
Basic 1.01(0.28)0.95(0.91)0.31
Diluted 1.0(0.28)0.95(0.91)0.31
Average common shares outstanding 
Basic NA2,710,5583,219,3395,260,5379,079,043
Diluted NA2,719,0683,241,8695,260,5379,137,706
Dividends declared NA0.550.550.55NA

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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