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Consolidated Statements Of Operations And Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Interest income        
Interest and fees on loans $ 6,431 $ 5,129 $ 18,127 $ 10,741
Interest on securities 367 484 1,285 1,472
Interest on federal funds sold and deposits in other banks 15 31 71 43
Total interest income 6,813 5,644 19,483 12,256
Interest expense        
Interest on deposits 683 447 2,019 865
Interest on time certificates of $100,000 and over 209 180 715 472
Interest on federal funds purchased and borrowed funds 93 185 279 460
Total interest expense 985 812 3,013 1,797
Net interest income 5,828 4,832 16,470 10,459
Provision for loan and lease losses 476 1,620 1,383 3,100
Net interest income after provision for loan and lease losses 5,352 3,212 15,087 7,359
Noninterest income        
Service charges on deposit accounts 81 42 213 139
Net loss on sale and write-down of OREO (148) (166) (19) (180)
Gains on sales of securities 1 38 220 64
Bargain purchase gain   8,658   8,658
Other 52 9 182 94
Total noninterest income (14) 8,581 596 8,775
Noninterest expense        
Compensation and benefits 2,598 2,508 8,144 6,574
Occupancy 355 419 1,091 1,112
FDIC insurance 58 87 239 244
Bank franchise taxes 160 90 454 240
Technology 385 446 1,190 1,059
Communications 68 88 207 208
Insurance 73 48 221 124
Professional fees 325 696 834 1,205
OREO expenses 8 119 10 213
Amortization of intangible assets 91 74 274 134
Other expenses 264 371 922 731
Total noninterest expense 4,385 4,946 13,586 11,844
Income before income tax 953 6,847 2,097 4,290
Income tax benefit (expense) 4,950 (58) 4,950 (58)
Net income 5,903 6,789 7,047 4,232
Preferred stock dividend (21) (2) (68) (2)
Net income available to common shareholders 5,882 6,787 6,979 4,230
Other comprehensive income:        
Net unrealized (loss) gain on available-for-sale securities, net of tax of $695 in 2012 (375) 377 (122) 1,210
Net unrealized loss on derivative, net of tax of $108 in 2012 (12)   (201)  
Comprehensive income $ 5,516 $ 7,166 $ 6,724 $ 5,442
Earnings per common share (basic and diluted): $ 0.56 $ 0.65 $ 0.67 $ 0.48