XML 33 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Interest income      
Interest and fees on loans $ 11,294 $ 14,148 $ 16,146
Interest on Federal funds sold 25 42 54
Interest on deposits with banks 236 29 50
Interest and dividends on investment securities:      
Taxable 3,623 5,269 6,668
Tax-exempt 246 746 1,256
Total interest income 15,424 20,234 24,174
Interest expense      
Interest on deposits 4,155 5,715 7,670
Interest on short-term borrowings 0 1 3
Interest on long-term debt 809 1,691 1,822
Total interest expense 4,964 7,407 9,495
Net interest income 10,460 12,827 14,679
Provision for loan losses 3,014 9,487 8,105
Net interest income after provision for loan losses 7,446 3,340 6,574
Other operating income      
Service charges on deposit accounts 1,158 1,319 1,476
ATM fees 291 360 482
Award income 600 1,100 71
Earnings from cash surrender value of bank-owned life insurance 257 257 252
Undistributed income from unconsolidated subsidiaries 308 130 201
Other income 417 371 630
Net gains on securities transactions (Notes 4 and 5) 989 2,080 12
Other than temporary impairment losses on securities 0 0 (19)
Portion of loss recognized in other comprehensive income, before tax 0 0 (2,314)
Net impairment losses on securities recognized in earnings 0 0 (2,333)
Total other operating income 4,020 5,617 791
Salaries and other employee benefits 6,079 5,822 5,800
Occupancy expense 1,219 1,641 1,326
Equipment expense 500 557 648
Data processing expense 393 352 361
Professional fees 798 837 432
Marketing expense 418 325 361
FDIC insurance expense 1,266 1,280 1,240
Management consulting fees 1,749 1,369 683
Amortization of core deposit intangible 0 566 194
Federal Home Loan Bank advance prepayment penalty 0 694 0
Foreclosure expense 298 97 139
OREO expense 780 146 558
Other expenses 1,570 2,368 1,639
Total other operating expenses 15,070 16,054 13,381
Loss before income tax expense (3,604) (7,097) (6,016)
Income tax expense 73 360 1,806
Net loss $ (3,677) $ (7,457) $ (7,822)
Net loss per common share      
Basic $ (32.60) $ (60.54) $ (68.36)
Diluted $ (32.60) $ (60.54) $ (68.36)
Basic average common shares outstanding 131,320 131,290 131,300
Diluted average common shares outstanding 131,320 131,290 131,300
Cash dividends declared per common share $ 0 $ 0.00 $ 2.00