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CONSOLIDATED STATEMENTS OF INCOME (unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Interest and dividend income    
Interest and fees on loans$ 4,630$ 4,693$ 13,989$ 13,780
Interest on debt securities    
Taxable7439132,2682,872
Tax exempt5535581,6611,678
Other interest and dividends304296126
Total interest and dividend income5,9566,20618,01418,456
Interest expense    
Deposits7481,0612,4493,385
Repurchase agreements19254671
Federal Home Loan Bank of Boston advances5657651,7722,283
Total interest expense1,3321,8514,2675,739
Net interest income4,6244,35513,74712,717
Provision for loan losses180180860620
Net interest and dividend income after provision for loan losses4,4444,17512,88712,097
Non-interest income    
Trust and wealth advisory5994711,8611,507
Service charges and fees5345281,5551,480
Gains on sales of mortgage loans, net178278370443
Mortgage servicing, net(35)(33)(8)27
Gains on securities, net0161116
Other5862176208
Total non-interest income1,3341,3223,9653,681
Non-interest expense    
Salaries1,8161,7505,2024,989
Employee benefits6365221,9191,737
Premises and equipment5825591,7331,570
Data processing3663081,0281,080
Professional fees3073938871,248
Collections and OREO1521251963
FDIC insurance137195541549
Marketing and community support8579245200
Amortization of intangibles5656167167
Other3984401,1491,268
Total non-interest expense4,5354,31413,39012,871
Income before income taxes1,2431,1833,4622,907
Income tax provision204236598487
Net income1,0399472,8642,420
Net income available to common shareholders$ 865$ 832$ 2,459$ 2,073
Basic and diluted earnings per share (in dollars per share)$ 0.51$ 0.49$ 1.46$ 1.23
Common dividends per share (in dollars per share)$ 0.28$ 0.28$ 0.84$ 0.84