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Consolidated Statements of Operations (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Interest Income:        
Interest and fees on loans and leases $ 5,675 $ 5,239 $ 11,281 $ 10,370
Interest and dividends on investment securities: Taxable 939 1,245 1,776 2,693
Interest and dividends on investment securities: Exempt from federal taxes 1 19 1 64
Interest on cash and cash equivalents 19 23 28 50
Total interest and dividend income 6,634 6,526 13,086 13,177
Interest Expense:        
Interest on NOW, money market and savings 280 504 577 1,134
Interest on time deposits 584 765 1,184 1,653
Interest on FHLB advances 211 328 438 849
Interest on repurchase agreements 39 54 76 119
Interest on junior subordinated debentures 76 100 156 220
Interest on other borrowings 21 21 53 43
Total interest expense 1,211 1,772 2,484 4,018
Net interest income 5,423 4,754 10,602 9,159
Provision for credit losses 426 400 852 826
Net interest income after provision for credit losses 4,997 4,354 9,750 8,333
Non-interest Income:        
Service charges 265 329 541 672
Wealth management 221 200 429 416
Increase in cash surrender value of BOLI 60 62 120 123
Gain on sale of investment securities, net 1 279 2 975
Gain on sale of loans 93 0 225 0
Other fees 307 282 591 535
Total non-interest income 947 1,152 1,908 2,721
Non-interest Expense:        
Salaries and employee benefits 2,145 2,115 4,345 4,218
Furniture and equipment 319 363 650 722
Occupancy 447 399 973 855
Professional and consulting 264 319 563 585
Advertising and marketing 191 177 347 281
Printing and supplies 45 44 82 85
FDIC insurance 117 209 309 420
FHLB prepayment penalties 0 0 0 560
Other expenses 564 520 1,077 1,022
Total non-interest expense 4,092 4,146 8,346 8,748
Income before income tax expense 1,852 1,360 3,312 2,306
Income tax expense 564 413 1,009 684
Net income 1,288 947 2,303 1,622
Preferred stock dividends and accretion of discount 154 155 309 309
Net income available to common Stockholders $ 1,134 $ 792 $ 1,994 $ 1,313
Earnings per common share:        
Basic $ 0.43 $ 0.30 $ 0.75 $ 0.50
Diluted $ 0.42 $ 0.30 $ 0.74 $ 0.50
Cash dividends per common share $ 0.03 $ 0.03 $ 0.06 $ 0.06
Weighted average common shares outstanding:        
Basic 2,670,406 2,631,824 2,667,394 2,626,100
Diluted 2,689,998 2,631,855 2,692,813 2,626,116