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Consolidated Statements Of Income (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Mar. 31, 2011
Mar. 31, 2010
Jun. 30, 2011
Jun. 30, 2010
INTEREST AND DIVIDEND INCOME        
Interest and fees on loans $ 11,190 $ 11,602 $ 22,189 $ 23,091
Investment income:        
Interest and dividends on investment securities 3,508 3,831 6,530 7,553
Interest on interest earning deposits with banks and other short-term investments 14 24 44 45
Total interest and dividend income 14,712 15,457 28,763 30,689
INTEREST EXPENSE        
Savings, NOW and money market accounts 292 369 616 758
Time deposits $100 thousand and greater 296 318 608 691
Other time deposits 544 735 1,109 1,537
Securities sold under agreement to repurchase 572 878 1,164 1,776
Long-term debt 214 216 427 428
Junior subordinated debentures issued to unconsolidated subsidiary trust 301 300 594 593
Total interest expense 2,219 2,816 4,518 5,783
Net interest income 12,493 12,641 24,245 24,906
Provision for credit losses 250 0 250 600
Net interest income after provision for credit losses 12,243 12,641 23,995 24,306
NONINTEREST INCOME        
Total other-than-temporary impairment losses 0 34 0 211
Portion of loss recognized in other comprehensive income (before taxes) 0 (34) 0 (291)
Net impairment losses 0 0 0 (80)
Gain (loss) on investment securities, net 137 503 127 1,212
Trust company income 632 533 1,255 1,051
Service charges on deposits 1,072 1,395 2,034 2,634
Equity in losses of real estate limited partnerships (426) (421) (883) (855)
Other noninterest income 1,145 1,145 2,120 2,103
Total noninterest income 2,560 3,155 4,653 6,065
NONINTEREST EXPENSE        
Compensation and benefits 5,134 5,009 10,293 9,980
Occupancy expense 951 911 1,992 1,841
Equipment expense 813 710 1,602 1,390
Legal and professional fees 774 664 1,377 1,255
Marketing and advertising expense 445 366 784 681
State franchise taxes 317 295 630 574
FDIC insurance 194 340 546 720
Other Real Estate Owned ("OREO") expenses (income) 65 (196) 81 (390)
Other noninterest expense 1,513 1,522 3,012 3,036
Total noninterest expense 10,206 9,621 20,317 19,087
Income before provision for income taxes 4,597 6,175 8,331 11,284
Provision for income taxes 968 1,589 1,601 2,869
NET INCOME $ 3,629 $ 4,586 $ 6,730 $ 8,415
Basic earnings per common share $ 0.58 $ 0.74 $ 1.09 $ 1.37
Diluted earnings per common share $ 0.58 $ 0.74 $ 1.08 $ 1.37