XML 37 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
INTEREST INCOME        
Loans $ 12,847 $ 11,695 $ 36,182 $ 33,978
Investment securities and other interest-earning assets 779 850 2,606 3,110
Total interest income 13,626 12,545 38,788 37,088
Interest-bearing deposits:        
Interest on transaction accounts 280 364 832 1,178
Interest on certificates of deposit 1,164 1,636 3,815 5,251
Total interest-bearing deposits 1,444 2,000 4,647 6,429
Other borrowings 247 237 717 760
Subordinated debentures 81 77 247 230
Total interest expense 1,772 2,314 5,611 7,419
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES 11,854 10,231 33,177 29,669
PROVISION FOR LOAN LOSSES 145 1,322 145 2,728
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 11,709 8,909 33,032 26,941
NONINTEREST INCOME        
Loan servicing fees 224 324 615 701
Deposit fees 486 558 1,459 1,641
Net gain (loss) from sales of loans (41) 16 (31) (2,445)
Net gain from sales of investment securities 857 845 1,031 1,325
Other-than-temporary impairment loss on investment securities, net (36) (170) (118) (538)
Gain on FDIC transaction     5,340 4,189
Other income 420 537 1,082 1,383
Total noninterest income 1,910 2,110 9,378 6,256
NONINTEREST EXPENSE        
Compensation and benefits 4,367 3,363 11,834 10,033
Premises and occupancy 1,063 903 2,922 2,581
Data processing and communications 582 387 1,766 1,035
Other real estate owned operations, net 244 557 981 987
FDIC insurance premiums 165 86 466 653
Legal and audit 473 385 1,511 1,278
Marketing expense 225 379 704 936
Office and postage expense 232 244 612 605
Other expense 680 770 2,081 2,180
Total noninterest expense 8,031 7,074 22,877 20,288
NET INCOME BEFORE INCOME TAXES 5,588 3,945 19,533 12,909
INCOME TAX 2,126 1,485 7,568 4,892
NET INCOME $ 3,462 $ 2,460 $ 11,965 $ 8,017
EARNINGS PER SHARE        
Basic (in dollars per share) $ 0.34 $ 0.25 $ 1.16 $ 0.80
Diluted (in dollars per share) $ 0.32 $ 0.23 $ 1.12 $ 0.75
WEIGHTED AVERAGE SHARES OUTSTANDING        
Basic (in shares) 10,330,814 10,084,626 10,332,223 10,072,984
Diluted (in shares) 10,832,934 10,570,267 10,709,822 10,667,722