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Condensed Consolidated Statements of Income (Loss) (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
INTEREST INCOME:        
Interest and fees on loans $ 16,952 $ 16,950 $ 33,889 $ 33,629
Interest on federal funds sold 0 3 1 8
Interest and dividends on securities:        
Taxable 1,008 877 1,984 1,765
Non-taxable 592 809 1,335 1,469
Interest-bearing deposits 16 12 25 55
TOTAL INTEREST INCOME 18,568 18,651 37,234 36,926
INTEREST EXPENSE        
Time deposits of $100 or more 760 1,009 1,605 2,361
Other time and savings deposits 840 1,112 1,664 2,543
Borrowed funds 382 409 776 849
TOTAL INTEREST EXPENSE 1,982 2,530 4,045 5,753
NET INTEREST INCOME 16,586 16,121 33,189 31,173
PROVISION FOR LOAN LOSSES (891) 55 (1,351) 292
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 17,477 16,066 34,540 30,881
NON-INTEREST INCOME:        
Service charges on deposit accounts 1,243 1,317 2,467 2,586
Other service fees 1,264 1,401 2,289 2,327
Net gain on sale of securities 3 272 1,131 276
Income on investment in bank-owned life insurance 137 150 274 303
Mortgage banking activities 762 2,550 1,779 4,539
Provisions for mortgage loans sold 7 (4) 12 1,295
Other than temporary impairment of securities 0 0 0 (39)
Other income 75 498 236 553
TOTAL NON-INTEREST INCOME 3,491 6,184 8,188 11,840
NON-INTEREST EXPENSES:        
Salaries and employee benefits 7,367 7,953 15,285 15,343
Occupancy and equipment expense 1,758 1,951 3,505 3,765
Marketing and Advertising Expense 207 433 412 689
Data processing 293 350 568 744
Amortization of core deposit intangible 153 175 309 353
Communications 355 338 735 670
FDIC assessment 239 642 389 1,234
Loan collection fees 47 201 144 418
Other professional fees 379 497 723 974
Net cost of operation of other real estate owned 169 (174) 478 (997)
Gain on sale of premises and equipment 16 0 16 0
Merger related expenses 649 0 2,001 0
Other 2,422 2,477 4,682 4,864
TOTAL NON-INTEREST EXPENSES 14,022 14,843 29,215 28,057
INCOME BEFORE INCOME TAXES 6,946 7,407 13,513 [1] 14,664
INCOME TAX EXPENSE (BENEFIT) 2,558 2,598 5,217 5,206
NET INCOME 4,388 4,809 8,296 9,458
Preferred stock dividend and accretion of preferred stock discount 608 590 1,167 1,035
NET INCOME (LOSS) TO COMMON SHAREHOLDERS $ 3,780 $ 4,219 $ 7,129 $ 8,423
NET INCOME (LOSS) PER COMMON SHARE:        
Basic (in dollars per share) $ 0.27 $ 0.30 $ 0.50 $ 0.59
Diluted (in dollars per share) $ 0.26 $ 0.30 $ 0.50 $ 0.59
CASH DIVIDENDS PER COMMON SHARE (IN DOLLARS PER COMMON SHARE) $ 0.00 $ 0.00 $ 0.00 $ 0.00
[1] quarter of 2014