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Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Interest income:        
Loans, including fees $ 11,634 $ 13,525 $ 23,427 $ 27,231
Securities:        
Taxable securities 1,126 1,140 2,240 2,250
Tax-exempt securities 570 836 1,174 1,702
Federal funds sold and other short-term investments 66 183 127 330
Total interest income 13,396 15,684 26,968 31,513
Interest expense:        
Demand deposits 409 628 829 1,224
Savings deposits 304 1,433 588 2,974
Time deposits 1,030 1,912 2,191 3,815
Federal funds purchased and securities sold under agreements to repurchase 43 62 89 118
Subordinated notes 178 367 354 730
Long-term borrowings 1,019 1,019 2,027 2,255
Total interest expense 2,983 5,421 6,078 11,116
Net interest income 10,413 10,263 20,890 20,397
Provision for loan losses 450 1,400 950 3,400
Net interest income after provision for loan losses 9,963 8,863 19,940 16,997
Noninterest income:        
Service charges on deposit accounts 805 820 1,555 1,658
Debit card usage fees 378 348 725 656
Service fee from SmartyPig, LLC 0 794 0 1,061
Trust services 207 198 426 406
Gains and fees on sales of residential mortgages 272 286 456 473
Increase in cash value of bank-owned life insurance 223 226 444 444
Gain from bank owned-life insurance 0 0 637 0
Other income 231 247 544 493
Total noninterest income 2,116 2,919 4,787 5,191
Investment securities gains (losses), net:        
Total other than temporary impairment losses 0 (188) 0 (188)
Portion of loss recognized in other comprehensive income (loss) before taxes 0 0 0 0
Net impairment losses recognized in earnings 0 (188) 0 (188)
Realized securities gains (losses), net 0 (9) 0 37
Investment securities gains (losses), net 0 (197) 0 (151)
Noninterest expense:        
Salaries and employee benefits 3,170 2,775 6,225 5,367
Occupancy 821 796 1,637 1,597
Data processing 479 469 930 902
FDIC insurance expense 346 883 895 1,445
Other real estate owned expense 93 550 280 660
Professional fees 237 226 459 474
Miscellaneous losses 27 921 51 988
Other expenses 1,203 1,146 2,375 2,329
Total noninterest expense 6,376 7,766 12,852 13,762
Income before income taxes 5,703 3,819 11,875 8,275
Income taxes 1,780 1,216 3,422 2,333
Net income 3,923 2,603 8,453 5,942
Preferred stock dividends and accretion of discount (1,816) (572) (2,387) (1,141)
Net income available to common stockholders $ 2,107 $ 2,031 $ 6,066 $ 4,801
Basic and diluted earnings per common share $ 0.12 $ 0.12 $ 0.35 $ 0.28
Cash dividends per common share $ 0.05 $ 0.00 $ 0.05 $ 0.00