XML 36 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Interest and dividend income      
Interest and fees on loans $ 18,666 $ 18,483 $ 18,233
Interest on debt securities      
Taxable 3,041 3,770 5,028
Tax exempt 2,210 2,231 2,491
Other interest and dividends 127 172 114
Total interest and dividend income 24,044 24,656 25,866
Interest expense      
Deposits 3,165 4,364 5,790
Repurchase agreements 63 90 131
Federal Home Loan Bank of Boston advances 2,331 3,043 3,111
Total interest expense 5,559 7,497 9,032
Net interest income 18,485 17,159 16,834
Provision for loan losses 1,440 1,000 985
Net interest and dividend income after provision for loan losses 17,045 16,159 15,849
Non-interest income      
Gains on securities, net 11 16 473
Trust and wealth advisory 2,548 2,102 1,978
Service charges and fees 2,090 2,006 1,725
Gains on sales of mortgage loans, net 687 816 488
Mortgage servicing, net 65 97 80
Other 255 270 459
Total non-interest income, excluding other-than-temporary impairment losses 5,656 5,307 5,203
Other-than-temporary impairment losses on securities       (2,302)
Portion of loss recognized in other comprehensive income (before tax)       1,174
Net other-than-temporary impairment losses recognized in earnings       (1,128)
Total non-interest income 5,656 5,307 4,075
Non-interest expense      
Salaries 6,970 6,816 6,623
Employee benefits 2,493 2,253 2,527
Premises and equipment 2,330 2,099 1,969
Data processing 1,410 1,452 1,473
Professional fees 1,099 1,364 1,493
Collections and OREO 590 191 45
FDIC insurance 596 735 914
Marketing and community support 343 319 341
Amortization of intangibles 222 222 164
Other 1,586 1,662 1,957
Total non-interest expense 17,639 17,113 17,506
Income before income taxes 5,062 4,353 2,418
Income tax provision (benefit) 950 693 (49)
Net income 4,112 3,660 2,467
Net income available to common shareholders $ 3,588 $ 3,198 $ 2,102
Basic and diluted earnings per share $ 2.12 $ 1.9 $ 1.25
Common dividends per share $ 1.12 $ 1.12 $ 0.84