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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 income:      
Interest and fees on loans $ 26,098 $ 27,390 $ 29,920
Interest on deposits in other banks 187 110 8
Interest on Federal funds sold 2 2 48
Interest and dividends on investment securities:      
Taxable 4,548 5,472 7,701
Exempt from Federal income taxes 3,464 3,039 3,057
Total interest income 34,299 36,013 40,734
INTEREST EXPENSE:      
Interest on deposits 2,662 3,713 5,867
Interest on junior subordinated deferrable interest debentures 100 102 129
Other 180 468 631
Total interest expense 2,942 4,283 6,627
Net interest income before provision for credit losses 31,357 31,730 34,107
Provision for credit losses 1,050 3,800 10,514
Net interest income after provision for credit losses 30,307 27,930 23,593
Non-interest income:      
Service charges 2,903 3,225 3,509
Appreciation in cash surrender value of bank owned life insurance 382 392 391
Loan placement fees 274 300 231
Gain on disposal of other real estate owned 615 176 0
Net realized gains (losses) on sales and calls of investment securities 298 (191) 766
Total impairment loss (31) (1,587) (300)
Loss recognized in other comprehensive income 0 0 0
Net impairment loss recognized in earnings (31) (1,587) (300)
Federal Home Loan Bank dividends 9 11 7
Other income 1,826 1,395 1,246
Total non-interest income 6,276 3,721 5,850
Non-interest expenses:      
Salaries and employee benefits 15,762 14,871 13,926
Occupancy and equipment 3,795 3,867 3,812
Regulatory assessments 845 1,191 1,604
Data processing expense 1,178 1,197 1,316
Advertising 735 669 722
Audit and accounting fees 491 496 503
Legal fees 335 495 330
Other real estate owned 15 1,071 479
Amortization of core deposit intangibles 414 414 414
Loss on sale of assets 5 10 55
Other expense 4,670 4,460 4,370
Total non-interest expenses 28,245 28,741 27,531
Income before provision for (benefit from) income taxes 8,338 2,910 1,912
Provision for (benefit from) income taxes 1,861 (369) (676)
Net income 6,477 3,279 2,588
Net income 6,477 3,279 2,588
Preferred stock dividends and accretion 486 395 365
Net income available to common shareholders $ 5,991 $ 2,884 $ 2,223
Basic earnings per common share $ 0.63 $ 0.31 $ 0.29
Diluted earnings per common share $ 0.63 $ 0.31 $ 0.28