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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Interest and dividend income      
Interest on loans $ 25,526 $ 26,820 $ 25,954
Interest and dividends on investments and deposits 1,639 1,718 2,337
Total interest income 27,165 28,538 28,291
Interest expense      
Interest on deposits 6,020 7,297 8,477
Interest on borrowed funds 2,232 2,982 4,060
Total interest expense 8,252 10,279 12,537
Net interest income 18,913 18,259 15,754
Provision for loan losses 3,584 3,360 1,144
Net interest income after provision for loan losses 15,329 14,899 14,610
Noninterest income      
Mortgage banking income 1,854 1,014 20
Fees for services related to deposit accounts 893 970 1,060
Fees for other services 851 661 554
Recovery from legal settlement 655 0 0
Income from bank owned life insurance 308 327 341
Income from investment advisory services, net 290 182 271
Net gain on investments 86 11 388
Other income 105 123 108
Other than temporary impairment on investments (117) 0 0
Less: Portion of loss recognition in comprehensive income 97 0 0
Net impairment recognized in earnings (20) 0 0
Total noninterest income 5,022 3,288 2,742
Noninterest expense      
Compensation, taxes and benefits 10,059 8,379 7,692
Office occupancy 2,297 2,348 2,151
FDIC insurance premiums 634 681 946
Professional fees 609 461 433
Computer processing 570 926 916
Directors compensation 505 565 560
Advertising 417 344 330
Loss on foreclosed real estate, net 278 107 36
Office supplies 227 211 207
Public company expenses 84 87 78
Costs related to terminated merger 0 782 241
Other expenses 1,327 1,016 951
Total noninterest expense 17,007 15,907 14,541
Income before tax provision 3,344 2,280 2,811
Income tax provision 1,140 829 818
Net income $ 2,204 $ 1,451 $ 1,993
Earnings per share - basic and diluted (in dollars per share) $ 0.33 $ 0.21 $ 0.29