XML 18 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
INTEREST AND DIVIDEND INCOME        
Loans, including fees $ 7,739 $ 7,987 $ 15,307 $ 15,983
Taxable securities 1,734 2,128 3,642 4,234
Tax exempt securities 744 706 1,471 1,419
Dividends 48 52 101 102
Federal funds sold and other interest income 8 30 18 51
TOTAL INTEREST AND DIVIDEND INCOME 10,273 10,903 20,539 21,789
INTEREST EXPENSE        
Deposits 1,127 1,460 2,314 2,985
Short-term borrowings 13 25 25 67
Long-term borrowings 94 98 193 196
TOTAL INTEREST EXPENSE 1,234 1,583 2,532 3,248
NET INTEREST INCOME 9,039 9,320 18,007 18,541
Provision for loan losses 170 400 425 400
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 8,869 8,920 17,582 18,141
NONINTEREST INCOME        
Service charges on deposit accounts 524 485 1,015 959
Bank owned life insurance income 116 125 233 260
Trust fees 1,391 1,365 2,737 2,783
Insurance agency commissions 41 25 83 61
Security gains 242 0 256 0
Investment commissions 251 249 513 435
Net gains on sale of loans 188 138 302 203
Other operating income 472 434 961 839
TOTAL NONINTEREST INCOME 3,225 2,821 6,100 5,540
NONINTEREST EXPENSES        
Salaries and employee benefits 5,400 4,939 10,605 9,668
Occupancy and equipment 1,088 1,068 2,114 2,029
State and local taxes 328 304 657 611
Professional fees 509 456 949 863
Merger related costs 217 0 261 0
Advertising 233 210 413 458
FDIC insurance 180 183 357 369
Intangible amortization 98 103 196 205
Core processing charges 336 332 682 720
Other operating expenses 1,433 1,178 2,676 2,480
TOTAL NONINTEREST EXPENSES 9,822 8,773 18,910 17,403
INCOME BEFORE INCOME TAXES 2,272 2,968 4,772 6,278
INCOME TAXES 404 682 899 1,472
NET INCOME $ 1,868 $ 2,286 $ 3,873 $ 4,806
NET INCOME PER SHARE - basic and diluted $ 0.10 $ 0.12 $ 0.21 $ 0.26