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Consolidated Income Statement (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
INTEREST AND DIVIDEND INCOME        
Interest and Fees on Loans $ 14,714 $ 16,293 $ 29,729 $ 32,456
Interest on Deposits at Banks 22 34 44 74
Interest and Dividends on Investment Securities - Fully Taxable 3,323 3,890 6,673 7,861
Interest and Dividends on Investment Securities - Exempt from Federal Taxes 1,497 1,461 3,001 2,938
Total Interest and Dividend Income 19,556 21,678 39,447 43,329
INTEREST EXPENSE        
Interest Expense - NOW Accounts 1,361 1,454 2,692 2,877
Interest Expense - Savings Deposits 503 570 1,006 1,110
Interest Expense -Time Deposits of $100,000 or More 664 727 1,331 1,443
Interest Expense - Other Time Deposits 1,292 1,480 2,644 2,966
Interest Expense - Federal Funds Purchased and Securities Sold Under Agreements to Repurchase 23 32 47 62
Interest Expense - Federal Home Loan Bank Advances 986 1,615 2,302 3,219
Interest Expense - Junior Subordinated Obligations Issued to Unconsolidated Subsidary Trusts 146 145 290 286
Total Interest Expense 4,975 6,023 10,312 11,963
NET INTEREST INCOME 14,581 15,655 29,135 31,366
Provision for Loan Losses 170 375 390 750
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 14,411 15,280 28,745 30,616
NONINTEREST INCOME        
Income from Fiduciary Activities 1,526 1,322 3,072 2,728
Fees for Other Services to Customers 2,058 1,997 3,973 3,853
Insurance Commissions 1,815 728 3,281 1,349
Net Gains (Losses) on Securities Transactions 482 878 1,024 878
Net Gains on Sale of Loans 167 34 218 55
Other Operating Income 180 69 280 183
Total Noninterest Income 6,228 5,028 11,848 9,046
NONINTEREST EXPENSE        
Salaries and Employee Benefits 7,233 7,053 14,435 13,655
Occupancy Expense, Net 1,894 1,772 3,812 3,549
FDIC Assessments 267 492 780 986
Other Operating Expense 2,777 2,685 5,463 5,352
Total Noninterest Expense 12,171 12,002 24,490 23,542
INCOME BEFORE PROVISION FOR INCOME TAXES 8,468 8,306 16,103 16,120
Provision for Income Taxes 2,619 2,592 4,973 4,991
Net Income $ 5,849 $ 5,714 $ 11,130 $ 11,129
Average Shares Outstanding:        
Basic 11,387 11,307 11,361 11,284
Diluted 11,399 11,344 11,378 11,323
Earnings Per Share        
Basic Earnings $ 0.51 $ 0.51 $ 0.98 $ 0.99
Diluted Earnings $ 0.51 $ 0.50 $ 0.98 $ 0.98