XML 33 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
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 income:      
Interest and fees on loans $ 45,399 $ 41,803 $ 42,146
Interest on investment securities:      
Taxable 9,819 8,329 8,073
Exempt from federal income tax 1,194 370 963
Interest on certificates of deposit investments 78 110 55
Interest on federal funds sold 69 85 66
Interest on deposits with other financial institutions 213 186 106
Total interest income 56,772 50,883 51,409
Interest expense:      
Interest on deposits 6,725 8,471 12,970
Interest on securities sold under agreements to repurchase 172 133 129
Interest on FHLB advances 765 1,090 1,612
Interest on other borrowings 72 9 22
Interest on subordinated debt 770 1,053 1,104
Total interest expense 8,504 10,756 15,837
Net interest income 48,268 40,127 35,572
Provision for loan losses 3,101 3,737 3,594
Net interest income after provision for loan losses 45,167 36,390 31,978
Other income:      
Trust revenues 3,030 2,601 2,229
Brokerage commissions 650 536 424
Insurance commissions 1,786 1,779 1,912
Service charges 4,817 4,662 4,952
Securities gains, net 486 543 637
Total other-than-temporary impairment losses on securities (886) (2,829) (2,465)
Portion of loss recognized in other comprehensive loss (before taxes) 0 1,411 653
Other-than-temporary impairment losses recognized in earnings (886) (1,418) (1,812)
Gain on sale of merchant banking portfolio 0 0 1,000
Mortgage banking revenue, net 788 776 664
ATM / debit card income 3,483 2,869 2,333
Other income 1,633 1,472 1,116
Total other income 15,787 13,820 13,455
Other expense:      
Salaries and employee benefits 22,247 18,649 16,830
Net occupancy and equipment expense 7,960 5,851 4,989
Net other real estate owned expense 1,471 1,076 470
FDIC insurance expense 1,167 1,508 1,943
Amortization of other intangible assets 1,134 814 730
Stationery and supplies 581 610 563
Legal and professional 2,070 2,361 2,021
Marketing and promotion 1,050 940 963
Other expense 5,373 5,118 4,703
Total other expense 43,053 36,927 33,212
Income before income taxes 17,901 13,283 12,221
Income taxes 6,529 4,522 4,007
Net income 11,372 8,761 8,214
Dividends on preferred shares 3,576 2,240 1,821
Net income available to common stockholders $ 7,796 $ 6,521 $ 6,393
Per common share data:      
Basic earnings per share (in dollars per share) $ 1.29 $ 1.07 $ 1.04
Diluted earnings per share (in dollars per share) $ 1.29 $ 1.07 $ 1.04
Cash dividends per share (in dollars per share) $ 0.40 $ 0.38 $ 0.38