XML 54 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Interest and dividend income    
Loans, including fees $ 14,914 $ 17,666
Loans held-for-sale 41 84
Securities:    
Taxable 2,298 1,498
Tax-exempt 119 103
Dividends from Federal Reserve Bank and Federal Home Loan Bank stock 76 74
Interest bearing deposits with financial institutions 42 25
Total interest and dividend income 17,490 19,450
Interest expense    
Savings, NOW, and money market deposits 228 300
Time deposits 1,853 2,605
Securities sold under repurchase agreements 1  
Other short-term borrowings 19 3
Junior subordinated debentures 1,287 1,197
Subordinated debt 196 237
Notes payable and other borrowings 4 4
Total interest expense 3,588 4,346
Net interest and dividend income 13,902 15,104
Provision for loan losses (2,500) 6,084
Net interest and dividend income after provision for loan losses 16,402 9,020
Noninterest income    
Trust income 1,491 1,651
Service charges on deposits 1,677 1,831
Secondary mortgage fees 230 296
Mortgage servicing income 244 187
Net gain on sales of mortgage loans 1,976 2,647
Securities gains, net 1,453 101
Increase in cash surrender value of bank-owned life insurance 407 495
Debit card interchange income 792 760
Lease revenue from other real estate owned 408 1,179
Net gain on sale of other real estate owned 181 23
Other income 1,737 1,294
Total noninterest income 10,596 10,464
Noninterest expense    
Salaries and employee benefits 9,032 9,049
Occupancy expense, net 1,279 1,235
Furniture and equipment expense 1,144 1,155
FDIC insurance 1,035 1,000
General bank insurance 849 846
Amortization of core deposit asset 525 195
Advertising expense 166 318
Debit card interchange expense 344 342
Legal fees 323 685
Other real estate expense 3,686 4,654
Other expense 3,144 2,973
Total noninterest expense 21,527 22,452
Income (loss) before income taxes 5,471 (2,968)
Income tax expense 0  
Net income (loss) 5,471 (2,968)
Preferred stock dividends and accretion of discount 1,289 1,223
Net income (loss) available to common shareholders $ 4,182 $ (4,191)
Share and per share information:    
Ending number of shares (in shares) 13,882,910 14,084,328
Average number of shares (in shares) 14,076,114 14,043,545
Diluted average number of shares (in shares) 14,157,523 14,196,143
Basic income (loss) per share (in dollars per share) $ 0.30 $ (0.30)
Diluted income (loss) per share (in dollars per share) $ 0.30 $ (0.30)
Dividends paid per share (in dollars per share) $ 0.00