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Consolidated Statements of Income (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 Income        
Interest and fees on loans $ 6,693 $ 6,635 $ 13,407 $ 12,994
Interest and dividends on investment securities:        
Taxable 1,819 1,815 3,534 3,689
Tax-exempt 666 590 1,325 1,175
Interest on interest-bearing balances and other interest income 10 9 17 19
Total interest income 9,188 9,049 18,283 17,877
Interest Expense        
Interest on deposits: Interest-bearing demand 206 245 396 467
Interest on deposits: Money market 84 161 178 327
Interest on deposits: Savings 300 180 582 321
Interest on deposits: Time 748 1,122 1,584 2,394
Interest on deposits: Time of $100,000 or more 397 587 837 1,223
Interest on short-term borrowings 58 67 113 120
Interest on long-term debt 244 252 485 566
Total interest expense 2,037 2,614 4,175 5,418
Net interest income 7,151 6,435 14,108 12,459
Provision for loan losses 450 700 1,100 1,400
Net interest income after provision for loan losses 6,701 5,735 13,008 11,059
Non-Interest Income        
Total other-than-temporary impairment loss on investment securities   (68)   (253)
Less: Portion of loss recognized in other comprehensive income (before taxes)       27
Net other-than temporary impairment losses on investment securities   (68)   (226)
Net gain on sale of investment securities 54 1 11 295
Net (loss) gain on investment securities 54 (67) 11 69
Fees for services to customers 347 406 674 811
ATM and debit card 366 314 694 585
Bank-owned life insurance 80 68 190 132
Merchant income 82 75 144 132
Net gain on sale of loans 18 142 57 217
Other 123 89 240 213
Total non-interest income 1,070 1,027 2,010 2,159
Non-Interest Expense        
Salaries and employee benefits 2,408 2,167 4,795 4,304
Net occupancy 370 360 767 729
Furniture and equipment 320 288 623 570
Marketing 206 199 381 360
Third party services 340 290 588 563
Telephone, postage, and supplies 158 142 306 299
State taxes 150 139 300 279
FDIC insurance premiums 276 257 538 511
Other 356 399 706 744
Total non-interest expense 4,584 4,241 9,004 8,359
Income before income taxes 3,187 2,521 6,014 4,859
Provision for income taxes 752 558 1,368 1,070
Net Income $ 2,435 $ 1,963 $ 4,646 $ 3,789
Earnings Per Share - Basic $ 0.77 $ 0.63 $ 1.48 $ 1.22
Earnings Per Share - Diluted $ 0.77 $ 0.63 $ 1.47 $ 1.22
Cash Dividends Per Share $ 0.25 $ 0.24 $ 0.5 $ 0.48