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Consolidated Statements of Income and Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Interest Income:      
Loans, including fees $ 61,465 $ 67,390 $ 70,531
Securities:      
Taxable 4,888 3,649 2,712
Exempt from federal income tax 1,118 1,138 1,306
Short term investments 173 205 137
Total Interest Income 67,644 72,382 74,686
Interest Expense:      
Deposits 10,891 15,733 18,841
FHLB Advances and notes payable 801 3,564 5,350
Subordinated debentures 1,197 1,497 1,612
Other 83 96 136
Total Interest Expense 12,972 20,890 25,939
Net Interest Income 54,672 51,492 48,747
Provision for loan losses 13,337 13,344 14,671
Net Interest Income after Provision for Loan Losses 41,335 38,148 34,076
Non-Interest Income:      
Service charges on deposit accounts 4,492 4,576 4,509
Gain on sale of mortgage loans 3,683 5,907 7,551
Mortgage servicing, net of amortization 89 (96) (471)
Gain/(loss) on trading account securities (11) 3 (213)
Gain/(loss) on securities transactions (37) 4 1,534
Courier and cash delivery services 0 174 751
Title insurance fees 0 0 626
Other 1,459 1,261 1,122
Total Non-Interest Income 9,675 11,829 15,409
Non-Interest Expense:      
Salaries and employee benefits 21,263 20,889 22,291
Occupancy and equipment 5,311 5,555 6,248
FDIC Insurance Premium 1,560 2,098 2,430
Amortization of intangibles 698 796 934
Outside professional services 1,202 1,144 934
Advertising and promotions 1,425 1,684 1,588
OREO expense and valuation write downs 3,153 3,513 2,391
Other 8,941 9,023 8,934
Total Non-Interest Expense 43,553 44,702 45,750
Income or loss before Federal Income Taxes 7,457 5,275 3,735
Federal Income Taxes 1,834 1,512 1,044
NET INCOME 5,623 3,763 2,691
Preferred Stock Dividends and Accretion of Discount on Preferred Stock 1,679 1,679 1,540
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS 3,944 2,084 1,151
COMPREHENSIVE INCOME      
Net Income 5,623 3,763 2,691
Change in unrealized gain on securities, net of tax and reclassification effects 2,750 (452) (288)
TOTAL COMPREHENSIVE INCOME $ 8,373 $ 3,311 $ 2,403
Basic earnings per common share (in Dollars per share) $ 0.50 $ 0.27 $ 0.15
Diluted earnings per common share (in Dollars per share) $ 0.50 $ 0.27 $ 0.15