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Consolidated Statements of Operations (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
INTEREST INCOME:        
Loans $ 11,132 $ 10,298 $ 21,948 $ 20,404
Federal funds sold 56 63 138 122
Investment securities available for sale 1,104 592 1,906 1,139
Interest bearing deposits in other banks 9 37 19 82
Total interest income 12,301 10,990 24,011 21,747
Deposits:        
Interest-bearing demand 1 2 2 4
Money market and savings 205 316 432 674
Certificates of deposit 56 202 134 483
Other 273 315 619 556
Total interest expense 535 835 1,187 1,717
Net interest income 11,766 10,155 22,824 20,030
Provision for credit losses   1,150 750 2,400
Net interest income after provision for credit losses 11,766 9,005 22,074 17,630
NON-INTEREST INCOME:        
Service charges on deposit accounts 720 578 1,395 1,123
International fee income 530 478 1,076 906
Other non interest income 261 647 1,586 1,300
Total non-interest income 1,511 1,703 4,057 3,329
OPERATING EXPENSES:        
Salaries and benefits 5,927 5,013 11,305 10,297
Premises and fixed assets 924 1,017 1,896 2,069
Other operating expenses 3,354 3,629 7,241 6,946
Total operating expenses 10,205 9,659 20,442 19,312
Income before income taxes 3,072 1,049 5,689 1,647
Income taxes 1,286 294 2,333 527
Net income 1,786 755 3,356 1,120
Preferred dividends   298 200 1,358
Net income (loss) available to common shareholders $ 1,786 $ 457 $ 3,156 $ (238)
Basic income (loss) per share (in dollars per share) $ 0.13 $ 0.04 $ 0.22 $ (0.03)
Diluted income (loss) per share (in dollars per share) $ 0.12 $ 0.04 $ 0.22 $ (0.03)
Average common shares outstanding (in shares) 14,263,583 10,300,576 14,177,061 8,449,036
Average common and equivalent shares outstanding (in shares) 14,652,766 10,790,051 14,563,274 8,449,036