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Condensed Consolidated Statements of Operations (Unaudited) (USD $)
Share data in Thousands, except Per 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 $ 14,593,000 $ 15,364,000 $ 44,346,000 $ 46,696,000
Securities:        
Taxable 1,020,000 1,025,000 3,051,000 3,413,000
Tax-exempt 145,000 99,000 407,000 296,000
Other investments 42,000 41,000 129,000 125,000
Federal funds sold and other short-term investments 229,000 239,000 675,000 426,000
Total interest income 16,029,000 16,768,000 48,608,000 50,956,000
Interest expense:        
Time deposits 1,288,000 1,857,000 4,194,000 6,057,000
Demand and savings deposits 508,000 800,000 1,729,000 2,647,000
Junior subordinated debentures 338,000 327,000 1,007,000 976,000
Subordinated debentures and other borrowings 247,000 259,000 741,000 803,000
Total interest expense 2,381,000 3,243,000 7,671,000 10,483,000
Net interest income 13,648,000 13,525,000 40,937,000 40,473,000
Provision for loan losses (300,000) 875,000 300,000 2,450,000
Net interest income after provision for loan losses 13,948,000 12,650,000 40,637,000 38,023,000
Noninterest income:        
Service fees 1,099,000 1,124,000 3,347,000 3,214,000
Loan-related fees 139,000 89,000 326,000 268,000
Letters of credit commissions and fees 197,000 143,000 584,000 492,000
Gain on securities, net 24,000 203,000 108,000 129,000
Total other-than-temporary impairments (“OTTI”) on securities (14,000) (32,000) (101,000) (215,000)
Less: Noncredit portion of “OTTI” (7,000) (2,000) (17,000) (20,000)
Net impairments on securities (7,000) (30,000) (84,000) (195,000)
Other noninterest income 420,000 287,000 1,154,000 1,138,000
Total noninterest income 1,872,000 1,816,000 5,435,000 5,046,000
Noninterest expense:        
Salaries and employee benefits 6,016,000 5,214,000 17,934,000 15,702,000
Occupancy and equipment 1,792,000 1,896,000 5,224,000 5,545,000
Foreclosed assets, net 552,000 1,222,000 1,915,000 2,741,000
FDIC assessment 480,000 632,000 1,362,000 2,016,000
Other noninterest expense 2,689,000 2,471,000 7,339,000 7,217,000
Total noninterest expense 11,529,000 11,435,000 33,774,000 33,221,000
Income before provision for income taxes 4,291,000 3,031,000 12,298,000 9,848,000
Provision for income taxes 1,410,000 762,000 4,023,000 3,090,000
Net income 2,881,000 2,269,000 8,275,000 6,758,000
Dividends and discount – preferred stock (20,000) (601,000) (1,429,000) (1,811,000)
Adjustment from repurchase of preferred stock (149,000)   557,000  
Net income available to common shareholders $ 2,712,000 $ 1,668,000 $ 7,403,000 $ 4,947,000
Earnings per common share:        
Basic (in Dollars per share) $ 0.15 $ 0.13 $ 0.47 $ 0.38
Diluted (in Dollars per share) $ 0.15 $ 0.13 $ 0.47 $ 0.37
Weighted average shares outstanding:        
Basic (in Shares) 18,307 13,145 15,666 13,141
Diluted (in Shares) 18,648 13,234 15,876 13,216