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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
INTEREST INCOME        
Loans and loan fees $ 11,250 $ 12,927 $ 22,332 $ 25,321
U.S. Government agency obligations 480 4 813 4
Obligations of states and political subdivisions 1,489 1,526 2,989 3,052
Collateralized mortgage obligations 546 1,199 1,381 2,393
Mortgage-backed securities 474 19 839 26
Corporate bonds 96 16 213 16
Federal funds sold and interest-bearing deposits due from banks 189 137 362 214
Dividends 36 17 75 63
Total interest income 14,560 15,845 29,004 31,089
INTEREST EXPENSE        
Saving, N.O.W. and money market deposits 294 303 580 620
Time certificates of $100,000 or more 294 406 594 845
Other time deposits 159 258 341 538
Total interest expense 747 967 1,515 2,003
Net interest income 13,813 14,878 27,489 29,086
Provision (credit) for loan losses 0 (2,400) 0 (2,400)
Net interest income after provision (credit) for loan losses 13,813 17,278 27,489 31,486
NON-INTEREST INCOME        
Service charges on deposit accounts 951 1,000 1,875 1,950
Other service charges, commissions and fees 813 846 1,523 1,596
Fiduciary fees 263 208 536 409
Net gain on sale of securities available for sale 33 0 392 0
Net gain on sale of portfolio loans 3 0 445 0
Net gain on sale of mortgage loans originated for sale 305 222 831 419
Income from bank owned life insurance 42 0 42 0
Other operating income 54 125 137 282
Total non-interest income 2,464 2,401 5,781 4,656
OPERATING EXPENSES        
Employee compensation and benefits 6,746 8,875 15,328 17,459
Occupancy expense 1,658 1,276 3,202 2,730
Equipment expense 557 491 1,129 1,003
Consulting and professional services 573 696 1,146 1,640
FDIC assessment 524 478 1,041 548
Data processing 749 725 1,216 1,094
Accounting and audit fees 178 159 199 743
Other operating expenses 1,707 1,439 3,232 3,527
Total operating expenses 12,692 14,139 26,493 28,744
Income before income tax expense 3,585 5,540 6,777 7,398
Income tax expense 816 1,340 1,299 2,030
NET INCOME $ 2,769 $ 4,200 $ 5,478 $ 5,368
EARNINGS PER COMMON SHARE - BASIC (in dollars per shares) $ 0.24 $ 0.43 $ 0.47 $ 0.55
EARNINGS PER COMMON SHARE - DILUTED (in dollars per shares) $ 0.24 $ 0.43 $ 0.47 $ 0.55
WEIGHTED AVERAGE NUMBER OF COMMON SHARES - BASIC (in shares) 11,570,450 9,726,814 11,568,410 9,726,814
WEIGHTED AVERAGE NUMBER OF COMMON SHARES - DILUTED (in shares) 11,576,170 9,726,814 11,568,415 9,726,814