XML 18 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Interest Income:        
Interest and fees on loans and leases $ 4,875 $ 5,555 $ 9,699 $ 11,060
Interest and dividends on investment securities: Taxable 720 861 1,401 1,584
Interest and dividends on investment securities: Exempt from federal taxes 275 122 532 243
Interest on cash and cash equivalents 17 10 29 20
Total interest and dividend income 5,887 6,548 11,661 12,907
Interest Expense:        
Interest on NOW, money market and savings 188 232 382 455
Interest on time deposits 277 403 568 837
Interest on FHLB advances 148 211 354 422
Interest on repurchase agreements 11 19 25 41
Interest on junior subordinated debentures 76 82 152 163
Interest on other borrowings 19 20 38 40
Total interest expense 719 967 1,519 1,958
Net interest income 5,168 5,581 10,142 10,949
Provision for credit losses 375 475 555 900
Net interest income after provision for credit losses 4,793 5,106 9,587 10,049
Non-interest Income:        
Service charges 315 329 660 669
Wealth management 301 234 592 467
Increase in cash surrender value of BOLI 58 59 116 118
Gains on sale of investment securities, net 155 79 214 79
Gain on sale of SBA loans 16 158 163 158
Other fees 314 299 613 589
Total non-interest income 1,159 1,158 2,358 2,080
Non-interest Expense:        
Salaries and employee benefits 2,251 2,174 4,615 4,487
Furniture and equipment 280 316 564 635
Occupancy 492 463 1,011 939
Professional and consulting 263 306 580 618
Advertising and marketing 167 137 327 315
Printing and supplies 47 65 88 101
FDIC insurance 158 126 263 233
PA shares tax 153 141 307 283
Telecommunications 57 54 115 105
Postage 20 23 41 38
Loss on sale or write down of OREO 18   28 17
Other expenses 366 470 721 821
Total non-interest expense 4,272 4,275 8,660 8,592
Income before income tax expense 1,680 1,989 3,285 3,537
Income tax expense 430 589 860 1,035
Net income 1,250 1,400 2,425 2,502
Preferred stock dividends and accretion of discount 36 130 73 258
Net income available to Common Shareholders $ 1,214 $ 1,270 $ 2,352 $ 2,244
Earnings per common share:        
Basic $ 0.44 $ 0.47 $ 0.86 $ 0.83
Diluted $ 0.44 $ 0.46 $ 0.85 $ 0.82
Cash dividends per common share $ 0.07 $ 0.05 $ 0.14 $ 0.10
Weighted average common shares outstanding:        
Basic 2,740,756 2,707,662 2,733,051 2,704,816
Diluted 2,773,637 2,735,808 2,767,847 2,730,800