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Condensed Consolidated Statements of Income/(Loss) (USD $)
In Thousands, except 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 $ 7,903 $ 8,621 $ 15,894 $ 17,556
Interest on investment securities:        
Taxable investment securities 859 1,144 1,704 2,251
Nontaxable investment securities 286 301 547 613
Interest on federal funds sold and Federal Reserve Bank balances in excess of required balance 42 41 68 77
Other interest income 14 8 14 8
Total interest income 9,104 10,115 18,227 20,505
Interest Expense:        
Interest on deposits 1,359 2,264 2,911 4,681
Interest on securities sold under agreement to repurchase 64 221 160 470
Interest on other short-term borrowings   47   104
Total interest expense 1,423 2,532 3,071 5,255
Net interest income 7,681 7,583 15,156 15,250
Provision for loan losses 3,065 3,806 5,177 7,569
Net interest income after provision for loan losses 4,616 3,777 9,979 7,681
Noninterest income:        
Service charges on deposit accounts 797 928 1,612 1,806
Gains on sale of securities   156   156
Other operating income 714 719 1,290 1,272
Total noninterest income 1,511 1,803 2,902 3,234
Noninterest expenses:        
Salaries and employee benefits 3,196 3,347 6,619 6,758
Occupancy expense 825 814 1,655 1,616
Examination and professional fees 291 230 547 392
FDIC deposit insurance assessments 352 292 708 579
Net cost of operation of other real estate owned 556 62 842 116
Other operating expenses 971 1,225 2,088 2,114
Total noninterest expenses 6,191 5,970 12,459 11,575
Income/(loss) before income taxes (64) (390) 422 (660)
Income tax provision/(benefit) (94) (170) 10 (397)
Net income/(loss) $ 30 $ (220) $ 412 $ (263)
Per Share Data        
Net income/(loss) per weighted average shares outstanding (in dollars per share) $ 0.02 $ 0.13 $ 0.25 $ 0.16
Book value per actual number of shares outstanding (in dollars per share) $ 53.03 $ 52.21 $ 53.03 $ 52.21
Weighted average number of shares outstanding (in shares) 1,664,614 1,675,492 1,664,617 1,676,187
Actual number of shares outstanding, end of period (in shares) 1,664,614 1,674,870 1,664,614 1,674,870