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Consolidated Statements Of Income (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Interest and fees on loans        
Taxable $ 14,892 $ 16,533 $ 29,967 $ 33,490
Tax-exempt 64 81 129 164
Interest and dividends on securities        
Taxable 2,574 3,140 5,183 6,278
Tax-exempt 551 452 985 907
Interest on interest bearing deposits with other banks 28 2 45 13
Total interest income 18,109 20,208 36,309 40,852
Interest expense        
Interest on deposits 4,667 5,378 9,410 10,876
Interest on short-term borrowings 1 20 2 77
Interest on long-term borrowings and subordinated debentures 3,281 4,874 6,635 9,732
Total interest expense 7,949 10,272 16,047 20,685
Net interest income 10,160 9,936 20,262 20,167
Provision for loan losses 3,000 8,500 6,000 13,850
Net interest income after provision for loan losses 7,160 1,436 14,262 6,317
Other income        
Insurance commissions 1,142 1,223 2,384 2,432
Service fees 758 828 1,379 1,535
Realized securities gains 318 1,256 1,946 1,520
Gain on sale of assets 76 183 147 195
Write-down of foreclosed properties (689) (2,194) (4,132) (2,194)
Other 914 511 1,411 989
Total other-than-temporary impairment loss on securities (1,304)   (3,131) (454)
Portion of loss recognized in other comprehensive income 771   1,370 425
Net impairment loss recognized in earnings (533)   (1,761) (29)
Total other income 1,986 1,807 1,374 4,448
Other expense        
Salaries, commissions, and employee benefits 4,186 3,965 8,028 7,813
Net occupancy expense 481 509 990 1,031
Equipment expense 581 634 1,161 1,264
Professional fees 193 262 389 536
Amortization of intangibles 88 88 176 176
FDIC premiums 586 625 1,279 1,450
Foreclosed properties expense 412 244 846 476
Other 1,376 1,455 2,010 2,770
Total other expense 7,903 7,782 14,879 15,516
Income (loss) before income taxes 1,243 (4,539) 757 (4,751)
Income tax expense (benefit) 338 (1,661) 100 (1,993)
Net Income (loss) 905 (2,878) 657 (2,758)
Dividends on preferred shares 74 74 148 148
Net Income (loss) applicable to common shares $ 831 $ (2,952) $ 509 $ (2,906)
Basic earnings per common share $ 0.11 $ (0.40) $ 0.07 $ (0.39)
Diluted earnings per common share $ 0.11 $ (0.40) $ 0.07 $ (0.39)