SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2011

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) [Abstract]

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

NOTE 21 - SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

Quarterly Consolidated Results of Operations

(in thousands, except share and per share data)

(unaudited)

		2011
Quarter Ended		December 31		September 30		June 30		March 31
Interest income	$	19,494	$	15,409	$	14,697	$	11,839
Interest expense		5,422		5,696		5,790		5,555
Net interest income		14,072		9,713		8,907		6,284
Provision for loan losses		2,900		900		2,850		2,800
Non-interest income		4,406		3,591		2,519		3,136
Non-interest expenses		10,822		9,129		8,366		8,992
Income (loss) before income taxes		4,756		3,275		210		(2,372	)
Provision for (benefit from) income taxes		1,536		930		65		(696	)
Net income (loss)		3,220		2,345		145		(1,676	)
Preferred stock dividends		39		5		-		-
Net income (loss) applicable to common shareholders	$	3,181	$	2,340	$	145	$	(1,676	)
Earnings per common share:
Basic	$	0.28	$	0.24	$	0.01	$	(0.20	)
Diluted		0.27		0.23		0.01		(0.20	)

		2010
Quarter Ended		December 31		September 30		June 30		March 31
Interest income	$	11,767	$	9,466	$	5,754	$	3,920
Interest expense		4,565		3,220		2,124		1,637
Net interest income		7,202		6,246		3,630		2,283
Provision for loan losses		850		4,075		1,100		4,372
Non-interest income		1,845		41,660		1,512		653
Non-interest expenses		7,481		11,542		3,612		3,533
Income (loss) before income taxes		716		32,289		430		(4,969	)
Provision for income taxes		276		4,455		-		-
Net income (loss)	$	440	$	27,834	$	430	$	(4,969	)
Earnings per common share:
Basic	$	0.06	$	3.86	$	0.06	$	(1.39	)
Diluted		0.06		3.81		0.06		(1.39	)