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Consolidated Statements Of Income (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 and fees on loans        
Taxable $ 13,960 $ 14,892 $ 28,239 $ 29,967
Tax-exempt 81 64 167 129
Interest and dividends on securities        
Taxable 1,553 2,574 3,252 5,183
Tax-exempt 671 551 1,393 985
Interest on interest bearing deposits with other banks 12 28 24 45
Total interest income 16,277 18,109 33,075 36,309
Interest expense        
Interest on deposits 3,359 4,667 7,073 9,410
Interest on short-term borrowings 10 1 16 2
Interest on long-term borrowings and subordinated debentures 2,937 3,281 5,997 6,635
Total interest expense 6,306 7,949 13,086 16,047
Net interest income 9,971 10,160 19,989 20,262
Provision for loan losses 2,001 3,000 4,002 6,000
Net interest income after provision for loan losses 7,970 7,160 15,987 14,262
Other income        
Insurance commissions 1,141 1,142 2,299 2,384
Service fees related to deposit accounts 1,075 1,057 2,089 1,945
Realized securities gains 320 318 1,485 1,946
Gain (loss) on sale of assets (523) 76 (599) 147
Write-down of foreclosed properties (1,631) (689) (3,543) (4,132)
Other 552 484 1,135 845
Total other-than-temporary impairment loss on securities (370) (1,304) (882) (3,131)
Portion of loss recognized in other comprehensive income 264 771 547 1,370
Net impairment loss recognized in earnings (106) (533) (335) (1,761)
Total other income 828 1,855 2,531 1,374
Other expense        
Salaries, commissions, and employee benefits 3,892 4,055 7,793 8,028
Net occupancy expense 490 481 969 990
Equipment expense 603 581 1,196 1,161
Professional fees 227 193 531 389
Amortization of intangibles 88 88 176 176
FDIC premiums 500 586 1,022 1,279
Foreclosed properties expense 248 412 623 846
Other 1,247 1,376 2,525 2,010
Total other expense 7,295 7,772 14,835 14,879
Income before income taxes 1,503 1,243 3,683 757
Income tax expense 590 338 1,073 100
Net Income 913 905 2,610 657
Dividends on preferred shares 194 74 388 148
Net Income applicable to common shares $ 719 $ 831 $ 2,222 $ 509
Basic earnings per common share $ 0.10 $ 0.11 $ 0.30 $ 0.07
Diluted earnings per common share $ 0.09 $ 0.11 $ 0.27 $ 0.07