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Consolidated Statements of Income Unaudited (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Interest Income:        
Interest and fees on loans $ 14,493 $ 15,571 $ 29,061 $ 31,217
Securities        
Taxable 1,183 1,319 2,404 2,330
Exempt from Federal Income Tax 290 280 573 573
Short term investments 54 45 108 84
Total Interest Income 16,020 17,215 32,146 34,204
Interest Expense:        
Deposits 1,718 2,945 3,610 5,994
FHLB advances and other borrowing 191 227 382 508
Subordinated Debt 272 302 548 669
Total Interest Expense 2,181 3,474 4,540 7,171
Net Interest Income 13,839 13,741 27,606 27,033
Provision for loan losses 2,494 4,256 4,988 7,267
Net Interest Income after provision for loan losses 11,345 9,485 22,618 19,766
Non-interest Income:        
Service charges on deposit accounts 1,060 1,182 2,118 2,274
Gain on sale of mortgage loans 1,460 413 3,155 981
Mortgage servicing, net of amortization 15 76 (79) 104
Gain/(loss) on trading account securities 5 2 6 8
Gain/(loss) on securities 27 (2) 40 (10)
Other 462 340 1,003 699
Total Non-interest Income 3,029 2,011 6,243 4,056
Non-interest Expense:        
Salaries and employee benefits 5,468 5,170 11,138 10,440
Occupancy and equipment 1,284 1,284 2,645 2,708
FDIC insurance premium 325 499 699 1,042
Amortization of intangibles 126 185 271 370
Outside professional services 300 318 603 580
Advertising and promotions 355 380 719 644
Other real estate owned costs 380 797 797 1,378
Other 2,794 2,177 5,207 4,410
Total Non-interest Expense 11,032 10,810 22,079 21,572
Income before federal income taxes 3,342 686 6,782 2,250
Federal income taxes 938 58 1,961 407
Net Income 2,404 628 4,821 1,843
Preferred stock dividends and accretion of discount on preferred stock 420 420 840 840
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS 1,984 208 3,981 1,003
COMPREHENSIVE INCOME        
Change in unrealized gain on securities, net of tax and reclassification effects 475 1,700 862 2,010
TOTAL COMPREHENSIVE INCOME $ 2,879 $ 2,328 $ 5,683 $ 3,853
Basic Earnings Per Share (in Dollars per share) $ 0.25 $ 0.03 $ 0.50 $ 0.13
Diluted Earnings Per Share (in Dollars per share) $ 0.25 $ 0.03 $ 0.50 $ 0.13
Dividends Per Share (in Dollars per share) $ 0.01 $ 0.01 $ 0.07 $ 0.02