XML 73 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Interest income        
Loans $ 12,436 $ 12,233 $ 36,919 $ 37,067
Loans held for sale 114 80 237 247
Securities available for sale 3,002 3,364 9,368 10,176
Federal Home Loan Bank stock dividends 180 280 677 840
Other interest earning assets 4 52 51 102
Total interest income 15,736 16,009 47,252 48,432
Interest expense        
Deposits 1,548 1,847 4,852 5,843
Federal Home Loan Bank advances 537 529 1,579 1,576
Repurchase agreements and other 926 929 2,753 2,756
Total interest expense 3,011 3,305 9,184 10,175
Net interest income 12,725 12,704 38,068 38,257
Provision for loan losses 116 657 (1,465) 3,834
Net interest income after provision for loan losses 12,609 12,047 39,533 34,423
Non-interest income        
Non-deposit investment income 408 275 1,156 1,189
Mortgage servicing fees 678 702 2,053 2,104
Deposit related fees 1,321 1,471 3,850 4,065
Mortgage servicing rights valuation 2 30 (4) 676
Mortgage servicing rights amortization (435) (482) (1,259) (1,712)
Other service fees 3 13 3 74
Net gains (losses):        
Securities available for sale (includes $328 and $0, respectively, accumulated other comprehensive income reclassifications for unrealized net gains on available for sale securities) 328   362 2,578
Mortgage banking income 676 895 1,600 3,927
Real estate owned and other repossessed assets charges, net (203) (395) (628) (1,966)
Card fees 837 821 2,461 2,734
Other income 559 218 1,242 1,956
Total non-interest income 4,174 3,548 10,836 15,625
Non-interest expense        
Salaries and employee benefits 7,001 7,379 22,863 22,539
Occupancy 874 811 2,622 2,484
Equipment and data processing 1,791 1,698 5,552 5,240
Franchise tax 198 385 594 1,216
Advertising 181 226 617 646
Amortization of core deposit intangible 17 20 52 66
FDIC insurance premiums 295 598 875 1,755
Other insurance premiums 138 174 410 525
Legal and consulting fees 184 368 522 567
Other professional fees 555 393 1,564 1,476
Debt prepayment penalty 1,396   1,396  
Real estate owned and other repossessed asset expenses 189 354 539 1,140
Other expenses 1,433 1,122 4,415 4,106
Total non-interest expenses 14,252 13,528 42,021 41,760
Income before income taxes 2,531 2,067 8,348 8,288
Income tax (benefit) expense (includes $115 and $0 income tax expense from reclassification items) (369) 350 (39,050) 500
Net income 2,900 1,717 47,398 7,788
Amortization of discount on preferred stock         (6,751)
Earnings available to common shareholders 2,900 1,717 47,398 1,037
Net income 2,900 1,717 47,398 7,788
Other comprehensive income (loss)        
Unrealized gains (losses) on securities, net of tax (409) (2,121) 15,355 (38,006)
Total other comprehensive income (loss) (409) (2,121) 15,355 (38,006)
Comprehensive income (loss) $ 2,491 $ (404) $ 62,753 $ (30,218)
Earnings per share        
Basic $ 0.06 $ 0.03 $ 0.94 $ 0.02
Diluted $ 0.06 $ 0.03 $ 0.94 $ 0.02