XML 26 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Interest income:    
Loans receivable, including fees $ 15,624 $ 9,502
Loans receivable, non-taxable, including fees 14 22
Investment securities, taxable 2,912 2,017
Investment securities, non-taxable 21 22
Other 124 276
Total interest income 18,695 11,839
Interest expense:    
Deposits 5,073 5,450
Federal funds purchased 2 0
Borrowed Funds 133 89
Subordinated debt 18 16
Total interest expense 5,226 5,555
Net interest income 13,469 6,284
Provision for loan and lease losses 1,800 2,800
Net interest income after provision for loan and lease losses 11,669 3,484
Non-interest income:    
Deposit fees 116 104
Loan Fees 192 79
Mortgage warehouse transactional fees 2,099 1,111
Bank owned life insurance 265 601
Gains on sales of investment securities 209 0
Accretion of FDIC loss sharing receivable 655 909
Gain on sale of loans 0 78
Gain on sale of OREO 60 0
Other 136 354
Total non-interest income 3,732 3,236
Non-interest expense:    
Salaries and employee benefits 5,496 4,115
Occupancy 1,380 986
Technology, communication and bank operations 647 313
Advertising and promotion 275 228
Professional services 886 1,426
FDIC assessments, taxes, and regulatory fees 669 823
Loan workout and other real estate owned 525 385
Impairment and losses on other real estate owned 0 196
Merger related expenses 28 0
Other 780 619
Total non-interest expense 10,686 9,091
Income (loss) before tax expense (benefit) 4,715 (2,371)
Income tax expense (benefit) 1,603 (695)
Net income (loss) $ 3,112 $ (1,676)
Basic income (loss) per share (in dollars per share) $ 0.27 $ (0.18)
Diluted income (loss) per share (in dollars per share) $ 0.27 $ (0.18)