XML 34 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Interest and dividend income      
Loans, including fees $ 10,676 $ 10,536 $ 10,222
Securities:      
Taxable 3,019 3,541 5,397
Nontaxable 1,625 1,214 809
Federal funds sold and other 93 210 37
Total interest and dividend income 15,413 15,501 16,465
Interest expense      
Deposits 1,750 2,188 3,116
Short-term borrowings 44 47 45
Federal Home Loan Bank advances 256 984 1,076
Total interest expense 2,050 3,219 4,237
Net interest income 13,363 12,282 12,228
Provision for loan losses 600 2,229 1,829
Net interest income after provision for loan losses 12,763 10,053 10,399
Noninterest income      
Checking account fees 1,085 1,125 1,070
Visa check card interchange fees 549 442 353
Deposit and miscellaneous service fees 321 338 280
Mortgage banking activities 256 285 310
Loss on sales of other real estate owned (38) (24) (112)
Securities gains, net 214 661 770
Gain on sale of SBA loans 171    
Death benefit from life insurance policy 121    
Other 353 363 301
Total noninterest income 3,032 3,190 2,972
Noninterest expense      
Salaries and employee benefits 6,025 5,550 5,279
Data processing 1,160 1,033 909
Net occupancy 1,480 1,231 1,056
FDIC assessment 362 520 605
Professional and consulting fees 637 685 582
Franchise tax 360 348 327
Maintenance and repairs 237 203 187
Amortization of intangibles 107 90 225
Telephone 242 237 216
Marketing 240 240 233
Director fees 188 193 199
Directors pension expense 181 98 25
Software license and maintenance fees 245 202 189
Postage and supplies 283 295 304
Other 992 922 1,028
Total noninterest expense 12,739 11,847 11,364
Income before income taxes 3,056 1,396 2,007
Income tax expense 444 71 398
Net income $ 2,612 $ 1,325 $ 1,609
Weighted average common shares outstanding 2,211,508 2,205,973 2,202,457
Basic and diluted earnings per common share $ 1.18 $ 0.60 $ 0.73