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Consolidated Statements Of Income For the Three and Six Months Ended June 30, 2012 and 2011 (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Interest income:        
Loans and fees on loans $ 3,431 $ 3,552 $ 6,809 $ 7,065
Taxable investment securities 433 507 911 936
Nontaxable investment securities 9   12  
Federal funds sold 2 8 6 16
Dividends on restricted stock 21 15 39 32
Other interest income 16 4 21 4
Total interest income 3,912 4,086 7,798 8,053
Interest expense:        
Deposits 581 1,034 1,221 2,119
Preferred stock dividends     38  
Other borrowed funds 97 132 212 265
Total interest expense 678 1,166 1,471 2,384
Net interest income 3,234 2,920 6,327 5,669
Provision for loan losses 1,088 266 1,278 514
Net interest income after provision for loan losses 2,146 2,654 5,049 5,155
Noninterest income:        
Service charges on deposit accounts 64 63 138 125
ATM and interchange income 63 47 110 79
Mortgage loan brokerage fees 78 11 152 35
Gain on sales of investment securities 127 125 127 129
Other income 74 50 141 110
Total noninterest income 406 296 668 478
Noninterest expense:        
Salaries and employee benefits 1,138 1,252 2,365 2,468
Occupancy and equipment expense 310 323 635 655
Data processing expense 168 146 335 283
Advertising and marketing expense 77 61 197 136
Professional fees 108 66 194 169
Bank franchise taxes 33 46 69 102
FDIC insurance expense 122 163 243 352
Loss on sales and writedowns of other real estate owned 32 17 35 35
Other real estate owned expense 72 38 177 111
Directors’ fees 61   117  
Other expense 292 248 553 470
Total noninterest expense 2,413 2,360 4,920 4,781
Net income before income taxes 139 590 797 852
Income tax expense (benefit) 44   (2,658)  
Net income 95 590 3,455 852
Dividends accumulated on preferred stock 134 133 267 266
Accretion of discount on preferred stock 18 17 37 35
Net income (loss) available to common shareholders $ (57) $ 440 $ 3,151 $ 551
Earnings (loss) per common share, basic and diluted (in Dollars per share) $ (0.02) $ 0.14 $ 0.97 $ 0.17
Weighted average common shares outstanding, basic and diluted (in Shares) 3,262,518 3,241,547 3,256,296 3,241,547