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CONSOLIDATED STATEMENTS OF INCOME (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Interest income        
Loans, including fees $ 9,887,000 $ 10,291,000 $ 19,265,000 $ 20,453,000
Securities available for sale and stock 392,000 1,125,000 1,269,000 2,398,000
Interest-bearing deposits with financial institutions 74,000 41,000 129,000 67,000
Total interest income 10,353,000 11,457,000 20,663,000 22,918,000
Interest expense        
Deposits 1,898,000 2,507,000 3,949,000 5,004,000
Borrowings 311,000 358,000 555,000 716,000
Total interest expense 2,209,000 2,865,000 4,504,000 5,720,000
Net interest income 8,144,000 8,592,000 16,159,000 17,198,000
Provision for loan losses 1,850,000   1,450,000  
Net interest income after provision for loan losses 6,294,000 8,592,000 14,709,000 17,198,000
Noninterest income        
Total other-than-temporary impairment of securities   54,000 (25,000) 95,000
Less: Portion of other-than-temporary impairment losses recognized in other comprehensive loss   117,000 52,000 210,000
Net impairment loss recognized in earnings   (63,000) (77,000) (115,000)
Service fees on deposits and other banking services 245,000 251,000 478,000 524,000
Mortgage banking (including net gains on sales of loans held for sale) 8,450,000 1,328,000 12,981,000 2,167,000
Net gains on sale of securities available for sale   29,000 1,186,000 40,000
Net (loss) gain on sale of other real estate owned 130,000 99,000 111,000 206,000
Other 301,000 214,000 475,000 394,000
Total noninterest income 9,126,000 1,858,000 15,154,000 3,216,000
Noninterest expense        
Salaries and employee benefits 6,531,000 4,008,000 12,148,000 7,985,000
Occupancy 669,000 637,000 1,321,000 1,267,000
Equipment and depreciation 520,000 358,000 918,000 715,000
Data processing 180,000 168,000 375,000 331,000
FDIC expense 545,000 380,000 1,159,000 1,182,000
Other real estate owned expense 1,877,000 822,000 3,701,000 1,196,000
Professional fees 1,403,000 1,081,000 2,629,000 2,042,000
Mortgage related loan expense 925,000 168,000 1,278,000 282,000
Provision for contingencies     339,000  
Other operating expense 1,032,000 958,000 2,051,000 1,864,000
Total noninterest expense 13,682,000 8,580,000 25,919,000 16,864,000
Income before income taxes 1,738,000 1,870,000 3,944,000 3,550,000
Income tax (benefit) provision (4,058,000) 630,000 (3,234,000) 630,000
Net income 5,796,000 1,240,000 7,178,000 2,920,000
Accumulated undeclared dividends on preferred stock (234,000) (316,000) (468,000) (628,000)
Net income allocable to common shareholders $ 5,562,000 $ 924,000 $ 6,710,000 $ 2,292,000
Income per common share        
Basic $ 0.35 $ 0.09 $ 0.48 $ 0.22
Diluted $ 0.35 $ 0.08 $ 0.47 $ 0.19
Weighted average number of common shares outstanding        
Basic 15,778,678 10,434,665 14,087,522 10,434,665
Diluted 15,977,939 12,097,476 14,205,583 12,103,105