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Consolidated Statements of Income Unaudited (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Interest income:        
Interest and fees on loans $ 13,012 $ 14,145 $ 39,695 $ 43,206
Securities:        
Taxable 894 1,104 2,721 3,508
Exempt from federal income tax 441 272 1,244 845
Short term investments 36 53 146 161
Total interest income 14,383 15,574 43,806 47,720
Interest expense:        
Deposits 1,190 1,588 3,777 5,198
FHLB advances and other borrowing 173 170 475 552
Subordinated Debt 165 274 496 822
Total Interest Expense 1,528 2,032 4,748 6,572
Net Interest Income 12,855 13,542 39,058 41,148
Provision for loan losses 0 1,364 1,830 6,352
Net interest income after provision for loan losses 12,855 12,178 37,228 34,796
Non-interest income:        
Service charges on deposit accounts 1,043 1,048 3,107 3,166
Gain on sale of mortgage loans 894 1,661 3,922 4,816
Mortgage servicing, net of amortization 109 (95) (54) (174)
Loss on trading account securities (4) (5) 2 1
Gain on sale of available for sale securities 0 2 52 42
Other 444 405 1,325 1,408
Total non-interest income 2,486 3,016 8,354 9,259
Non-interest expense:        
Salaries and employee benefits 5,805 5,865 17,428 17,003
Occupancy and equipment 1,335 1,267 4,021 3,912
FDIC insurance premium 233 265 768 964
Amortization of intangibles 86 109 291 380
Outside professional services 324 293 964 895
Advertising and promotions 347 400 1,048 1,120
Other real estate owned costs 143 513 495 1,309
Other 2,236 2,717 7,002 7,925
Merger related expenses 738 0 738 0
Total non-interest expense 11,247 11,429 32,755 33,508
Income before federal income taxes 4,094 3,765 12,827 10,547
Federal income taxes 1,225 1,050 3,752 3,011
Net Income 2,869 2,715 9,075 7,536
Preferred stock dividends and accretion of discount on preferred stock 0 220 481 1,060
Net income available to common shareholders $ 2,869 $ 2,495 $ 8,594 $ 6,476
Basic earnings per share (in Dollars per share) $ 0.36 $ 0.31 $ 1.07 $ 0.82
Diluted earnings per share (in Dollars per share) $ 0.35 $ 0.31 $ 1.06 $ 0.82
Dividends per share (in Dollars per share) $ 0.06 $ 0.01 $ 0.18 $ 0.08