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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Interest income    
Loans (including fee income) $ 4,098 $ 4,835
Securities Taxable 506 562
Exempt from federal income tax 30 36
Federal funds sold and other 14 16
Total interest income 4,648 5,449
Interest expense    
Time deposits 204 623
Other deposits 87 91
Repurchase agreements and federal funds purchased 8 30
Subordinated debentures 65 57
Total interest expense 364 801
Net interest income 4,284 4,648
Provision for loan and lease losses 1,400 1,200
Net interest income after provision for loan and lease losses 2,884 3,448
Noninterest income    
Service fees on deposits 383 413
Trust income 149 194
Net gain (loss) on sale of other real estate owned (216) 67
Other than temporary impairment of securities 0 (143)
Noncredit portion of other than temporary impairment of securities 0 (20)
Other operating income 335 322
Total noninterest income 651 833
Noninterest expense    
Salaries and employee benefits 1,761 1,793
Occupancy and equipment, net 600 673
Data processing 572 507
Legal 180 205
FDIC insurance 256 381
Audit and other professional 290 286
Prinitng and supplies expense 68 80
Write-down of other real estate owned 1,972 673
Other real estate owned expense 126 233
Loan and collection 99 108
Other operating expenses 451 444
Total noninterest expense 6,375 5,383
Loss before income taxes (2,840) (1,102)
Income tax expense 0 0
Net loss (2,840) (1,102)
Dividends to preferred stockholders 243 230
Accretion of discount on preferred stock 35 34
Net loss available to common stockholders $ (3,118) $ (1,366)
Basic loss per share (in dollars per share) $ (0.73) $ (0.32)
Diluted loss per share (in dollars per share) $ (0.73) $ (0.32)