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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, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Interest income:        
Interest and fees on loans $ 13,399 $ 14,493 $ 26,683 $ 29,061
Securities:        
Taxable 865 1,183 1,827 2,404
Exempt from federal income tax 432 290 803 573
Short term investments 55 54 110 108
Total interest income 14,751 16,020 29,423 32,146
Interest expense:        
Deposits 1,237 1,718 2,587 3,610
FHLB advances and other borrowing 157 191 301 382
Subordinated Debt 166 272 332 548
Total Interest Expense 1,560 2,181 3,220 4,540
Net Interest Income 13,191 13,839 26,203 27,606
Provision for loan losses 552 2,494 1,830 4,988
Net interest income after provision for loan losses 12,639 11,345 24,373 22,618
Non-interest income:        
Service charges on deposit accounts 1,044 1,060 2,064 2,118
Gain on sale of mortgage loans 1,467 1,460 3,028 3,155
Mortgage servicing, net of amortization (27) 15 (163) (79)
Gain on trading account securities 6 5 6 6
Gain on available for sale securities 2 27 52 40
Other 481 462 881 1,003
Total non-interest income 2,973 3,029 5,868 6,243
Non-interest expense:        
Salaries and employee benefits 5,705 5,468 11,623 11,138
Occupancy and equipment 1,327 1,284 2,686 2,645
FDIC insurance premium 276 325 535 699
Amortization of intangibles 103 126 204 271
Outside professional services 347 300 640 603
Advertising and promotions 391 355 702 719
Other real estate owned costs 188 380 352 797
Other 2,570 2,794 4,766 5,207
Total non-interest expense 10,907 11,032 21,508 22,079
Income before federal income taxes 4,705 3,342 8,733 6,782
Federal income taxes 1,362 938 2,527 1,961
Net Income 3,343 2,404 6,206 4,821
Preferred stock dividends and accretion of discount on preferred stock 266 420 481 840
Net income available to common shareholders $ 3,077 $ 1,984 $ 5,725 $ 3,981
Basic earnings per share (in Dollars per share) $ 0.38 $ 0.25 $ 0.71 $ 0.50
Diluted earnings per share (in Dollars per share) $ 0.38 $ 0.25 $ 0.71 $ 0.50
Dividends per share (in Dollars per share) $ 0.06 $ 0.01 $ 0.12 $ 0.07