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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Interest Income        
Interest and fees on loans $ 6,036 $ 6,567 $ 18,477 $ 19,974
Interest and dividends on investment securities: Taxable 1,519 1,807 4,719 5,341
Interest and dividends on investment securities: Tax-exempt 707 697 2,104 2,022
Interest on interest-bearing balances and other interest income 14 14 33 31
Total interest income 8,276 9,085 25,333 27,368
Interest Expense        
Interest on deposits: Interest-bearing demand 175 217 501 613
Interest on deposits: Money market 55 67 192 245
Interest on deposits: Savings 272 299 902 881
Interest on deposits: Time 592 722 1,833 2,306
Interest on deposits: Time of $100,000 or more 368 404 1,117 1,241
Interest on short-term borrowings 27 50 80 163
Interest on long-term debt 64 246 403 731
Total interest expense 1,553 2,005 5,028 6,180
Net interest income 6,723 7,080 20,305 21,188
Provision for loan losses 300 650 600 1,750
Net interest income after provision for loan losses 6,423 6,430 19,705 19,438
Non-Interest Income        
Total other-than-temporary impairment loss on investment securities 0 (97) 0 (97)
Less: Portion of loss recognized in other comprehensive income (before taxes) 0 0 0 0
Net other-than temporary impairment losses on investment securities 0 (97) 0 (97)
Net (loss) gain on sale of investment securities (37) 65 493 76
Net (loss) gain on investment securities (37) (32) 493 (21)
Fees for services to customers 394 363 1,078 1,037
ATM and debit card 367 359 1,098 1,053
Bank-owned life insurance 78 80 234 270
Merchant 97 85 283 229
Net gain on sale of loans 186 124 644 181
Other 40 103 187 343
Total non-interest income 1,125 1,082 4,017 3,092
Non-Interest Expense        
Salaries and employee benefits 2,609 2,522 7,783 7,317
Net occupancy 407 386 1,228 1,153
Furniture and equipment 387 319 1,090 942
Marketing 176 165 633 546
Third party services 426 342 1,130 930
Telephone, postage, and supplies 146 141 452 447
State taxes 159 152 486 452
FDIC insurance premiums 173 41 515 579
Other 451 446 1,296 1,152
Total non-interest expense 4,934 4,514 14,613 13,518
Income before income taxes 2,614 2,998 9,109 9,012
Provision for income taxes 540 676 2,059 2,044
Net Income $ 2,074 $ 2,322 $ 7,050 $ 6,968
Earnings per share - Basic $ 0.65 $ 0.74 $ 2.21 $ 2.22
Earnings per share - Diluted $ 0.64 $ 0.73 $ 2.20 $ 2.21
Cash Dividends Per Share $ 0.26 $ 0.25 $ 0.78 $ 0.75