XML 33 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Operations and Comprehensive (Loss) Income (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Interest Income    
Loans, including fees $ 25,573 $ 29,502
Investment securities - AFS - taxable 2,141 2,794
Investment securities - AFS - nontaxable 0 58
Federal funds sold and securities purchased under agreements to resell 1 36
Interest on deposits in FRB 186 59
Interest on deposits in other banks 39 41
Total interest income 27,940 32,490
Interest Expense    
Interest on deposits 2,620 4,217
Interest on other borrowed funds 344 372
Total interest expense 2,964 4,589
Net Interest Income Before Provision for Credit Losses 24,976 27,901
Provision for Credit Losses 13,602 12,475
Net Interest Income 11,374 15,426
Noninterest Income    
Customer service fees 3,640 3,812
Increase in cash surrender value of BOLI 565 554
Gain on disposition of securities 11 68
(Loss)on sale of other real estate owned (231) (85)
Gain on sale of loans 0 509
Gain on sale of assets 0 0
Gains from life insurance 0 174
Gain on fair value option of financial liability 1,863 316
Gain (loss) on sale of premises and equipment 0 (11)
Other 1,029 602
Total noninterest income 6,877 5,939
Noninterest Expense    
Salaries and employee benefits 9,109 8,949
Occupancy expense 3,487 3,789
Data processing 92 85
Professional fees 2,355 2,081
FDIC/DFI insurance assessments 2,082 2,546
Director fees 230 232
Amortization of intangibles 620 769
Correspondent bank service charges 302 315
Impairment loss on other investments 1 355
Impairment loss on OREO 3,856 2,831
Impairment loss on intangible assets 36 57
Impairment loss on goodwill 1,489 1,414
Impairment loss on investment securities (cumulative total other-than-temporary loss of $4.5 million and $4.1 million net of $2.3 million and $2.0 million recognized in other comprehensive loss, pre-tax) 912 1,253
Loss in equity of limited partnership 418 424
Expense on other real estate owned 3,503 1,532
Other 2,286 2,388
Total noninterest expense 30,778 29,020
(Loss) Income Before Provision for Taxes on Income (12,527) (7,655)
(Benefit) Provision for Taxes on Income (1,715) (3,216)
Net (Loss) Income (10,812) (4,439)
Other comprehensive (loss) income, net of tax    
Unrealized income (loss) on available for sale securities and unrecognized post-retirement costs - net income tax expense (benefit) of $(208) and $1,232, respectively (303) 1,847
Comprehensive (Loss) Income $ (11,115) $ (2,592)
Net (Loss) Income per common share    
Basic (in dollars per share) $ (0.80) $ (0.33)
Diluted (in dollars per share) $ (0.80) $ (0.33)
Weighted shares on which net (loss) income per common share were based    
Basic (in shares) 13,531,832 13,531,832
Diluted (in shares) 13,531,832 13,531,832