XML 18 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Interest income:        
Loans $ 14,006 $ 14,754 $ 27,835 $ 29,753
Securities:        
Taxable 847 1,004 1,638 2,031
Tax-exempt 166 145 313 262
Other investments 64 44 114 87
Federal funds sold and other short-term investments (1) 192 [1] 234 [1] 392 [1] 446 [1]
Total interest income 15,275 16,181 30,292 32,579
Interest expense:        
Time deposits 1,316 1,370 2,535 2,906
Demand and savings deposits 389 586 816 1,221
Junior subordinated debentures 329 333 645 669
Other borrowings 260 247 493 494
Total interest expense 2,294 2,536 4,489 5,290
Net interest income 12,981 13,645 25,803 27,289
(Reduction in) provision for loan losses (25) 200 (475) 600
Net interest income after provision for loan losses 13,006 13,445 26,278 26,689
Noninterest income:        
Service fees 1,002 1,131 1,911 2,248
Loan-related fees 169 117 299 187
Letters of credit commissions and fees 175 190 374 387
Gain on securities, net 23 72 37 84
Total other-than-temporary impairments (“OTTI”) on securities (53) (48) (93) (87)
Less: Noncredit portion of OTTI (14) (10) (27) (10)
Net impairments on securities (39) (38) (66) (77)
Gain on sale of loans 71   71  
Other noninterest income 543 288 968 734
Total noninterest income 1,944 1,760 3,594 3,563
Noninterest expense:        
Salaries and employee benefits 5,933 5,997 12,225 11,918
Occupancy and equipment 1,678 1,743 3,328 3,432
Foreclosed assets, net 82 362 (759) 1,363
FDIC assessment 517 485 977 882
Other noninterest expense 2,498 2,725 5,239 4,650
Total noninterest expense 10,708 11,312 21,010 22,245
Income before provision for income taxes 4,242 3,893 8,862 8,007
Provision for income taxes 1,446 1,267 3,039 2,613
Net income 2,796 2,626 5,823 5,394
Dividends and discount – preferred stock   (811)   (1,409)
One-time adjustment from repurchase of preferred stock   706   706
Net income available to common shareholders $ 2,796 $ 2,521 $ 5,823 $ 4,691
Earnings per common share:        
Basic (in Dollars per share) $ 0.15 $ 0.16 $ 0.32 $ 0.33
Diluted (in Dollars per share) $ 0.15 $ 0.16 $ 0.31 $ 0.32
Weighted average shares outstanding:        
Basic (in Shares) 18,366 15,493 18,349 14,331
Diluted (in Shares) 18,713 15,753 18,713 14,497
Dividends per common share (in Dollars per share) $ 0.02   $ 0.02  
[1] Includes interest-bearing time deposits in banks