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Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Interest income        
Interest and fees on loans $ 2,365 $ 2,984 $ 4,881 $ 5,945
Interest on federal funds sold and securities purchased under agreements to resell    8 4 19
Interest on deposits with banks 76 59 136 118
Interest and dividends on investment securities:        
Taxable 677 945 1,430 1,928
Tax-exempt    61    123
Total interest income 3,118 4,057 6,451 8,133
Interest expense        
Interest on deposits 834 1,074 1,692 2,195
Interest on long-term debt 206 201 422 401
Total interest expense 1,040 1,275 2,114 2,596
Net interest income 2,078 2,782 4,337 5,537
Provision for loan losses 1,125 814 1,250 2,014
Net interest income after provision for loan losses 953 1,968 3,087 3,523
Other operating income        
Service charges on deposit accounts 249 289 502 571
ATM fees 68 75 136 151
Undistributed income from unconsolidated subsidiary 14 32 218 130
Earnings from cash surrender of life insurance 63 64 126 127
Income on other real estate owned 32 49 92 49
Other income 99 109 196 227
Net gains on securities transactions (Notes 4 and 5) 556    556   
Net gains on sale of other real estate owned       2   
Net gains on sale of other assets 500    525   
Total other operating income 1,581 618 2,353 1,255
Salaries and other employee benefits 1,619 1,483 3,186 2,918
Occupancy expense 258 258 616 626
Equipment expense 122 112 253 245
Data processing expense 133 94 261 188
Professional fees 334 185 512 379
Marketing expense 120 63 239 122
Management consulting fees 380 554 754 1,039
Regulatory expense 10 395 261 690
Insurance claim recovery 1 2 (149) 2
Foreclosure expenses 68 108 130 130
OREO expense 93 47 186 74
Loss on disposal of fixed assets 18    18 30
Loss on other real estate owned 113 169 113 169
Other expenses 481 214 898 807
Total other operating expenses 3,750 3,684 7,278 7,419
Loss before income tax expense (1,216) (1,098) (1,838) (2,641)
Income tax expense 8 19 30 31
Net loss $ (1,224) $ (1,117) $ (1,868) $ (2,672)
Net loss per common share        
Basic $ (9.80) $ (9.48) $ (15.82) $ (22.28)
Diluted $ (9.80) $ (9.48) $ (15.82) $ (22.28)
Basic average common shares outstanding 138,654 131,326 134,990 131,313
Diluted average common shares outstanding 138,654 131,326 134,990 131,313