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Consolidated Statements of Operations (USD $)
In Thousands, except 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 $ 11,550 $ 12,638 $ 35,504 $ 39,801
Interest on investment securities: Taxable 1,005 1,127 3,150 2,922
Interest on investment securities: Exempt from federal income tax 491 630 1,527 2,182
Total investment income 1,496 1,757 4,677 5,104
Other 73 88 207 327
Total interest income 13,119 14,483 40,388 45,232
Interest expense        
Interest on deposits 1,527 2,821 5,085 9,724
Interest on short-term borrowings 18 50 115 177
Interest on long-term borrowings 1,795 2,187 5,628 6,888
Total interest expense 3,340 5,058 10,828 16,789
Net interest income 9,779 9,425 29,560 28,443
Provision for loan losses 40 1,334 9,276 5,939
Net interest income after provision for loan losses 9,739 8,091 20,284 22,504
Other operating income        
Changes in fair value on impaired securities 389 (589) 346 204
Portion of loss/(gain) recognized in other comprehensive income (before taxes) (389) 589 (346) (223)
Net securities impairment losses recognized in operations 0 0 0 (19)
Net gains/(losses) - other (300) (793) 1,062 (125)
Total net gains/(losses) (300) (793) 1,062 (144)
Service charges 921 925 2,646 2,728
Trust department 1,139 1,094 3,408 3,237
Insurance commissions 1 648 9 1,936
Debit card income 490 486 1,511 1,598
Bank owned life insurance 256 260 1,520 769
Other 521 205 1,432 930
Total other income 3,328 3,618 10,526 11,198
Total other operating income 3,028 2,825 11,588 11,054
Other operating expenses        
Salaries and employee benefits 4,848 5,027 14,784 15,185
FDIC premiums 505 431 1,482 1,818
Equipment 645 735 1,986 2,310
Occupancy 654 713 2,055 2,138
Data processing 711 655 2,156 2,042
Other 2,573 2,590 7,422 7,661
Total other operating expenses 9,936 10,151 29,885 31,154
Income before income tax expense 2,831 765 1,987 2,404
Applicable income tax expense/(benefit) (44) 79 128 (372)
Net Income 2,875 686 1,859 2,776
Accumulated preferred stock dividends and discount accretion (415) (404) (1,261) (1,198)
/Net Income Available to Common Shareholders $ 2,460 $ 282 $ 598 $ 1,578
Basic net income per common share $ 0.40 $ 0.05 $ 0.10 $ 0.26
Diluted net income per common share $ 0.40 $ 0.05 $ 0.10 $ 0.26
Weighted average number of basic and diluted shares outstanding 6,199 6,183 6,192 6,175