XML 54 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Interest income        
Loans $ 14,494 $ 12,030 $ 39,114 $ 36,147
Securities held-to-maturity 1,744 1,304 5,131 4,595
Securities available-for-sale 5,671 6,042 17,054 17,104
Federal funds sold and interest-bearing deposits in other banks 170 262 457 967
Total interest income 22,079 19,638 61,756 58,813
Interest expense        
Savings and NOW deposits 562 583 1,649 2,023
Money market accounts 603 636 1,833 2,109
Time deposits 1,493 2,512 4,774 7,285
Securities sold under agreements to repurchase 94 82 274 290
Other borrowed funds and subordinated debentures 2,107 1,987 6,215 5,826
Total interest expense 4,859 5,800 14,745 17,533
Net interest income 17,220 13,838 47,011 41,280
Provision for loan losses 1,250 1,200 3,250 3,600
Net interest income after provision for loan losses 15,970 12,638 43,761 37,680
Other operating income        
Service charges on deposit accounts 1,977 2,031 5,887 5,854
Lockbox fees 745 658 2,225 2,129
Net gain on sales of investments 529 883 1,119 1,245
Other income 854 931 2,481 2,651
Total other operating income 4,105 4,503 11,712 11,879
Operating expenses        
Salaries and employee benefits 8,400 7,357 24,732 21,948
Occupancy 1,161 1,059 3,459 3,285
Equipment 627 608 1,754 1,700
FDIC assessments 450 413 1,302 1,612
Other 3,070 2,618 8,712 7,495
Total operating expenses 13,708 12,055 39,959 36,040
Income before income taxes 6,367 5,086 15,514 13,519
Provision for income taxes 685 504 1,253 1,015
Net income $ 5,682 $ 4,582 $ 14,261 $ 12,504
Class A Common Stock
       
Share data:        
Weighted average number of shares outstanding, basic 3,561,625 3,544,967 3,556,369 3,542,170
Weighted average number of shares outstanding, diluted 5,549,810 5,541,646 5,548,133 5,541,711
Earnings per share, basic $ 1.25 $ 1.01 $ 3.13 $ 2.75
Earnings per share, diluted $ 1.02 $ 0.83 $ 2.57 $ 2.26
Class B Common Stock
       
Share data:        
Weighted average number of shares outstanding, basic 1,986,880 1,995,630 1,990,838 1,998,422
Weighted average number of shares outstanding, diluted 1,986,880 1,995,630 1,990,838 1,998,422
Earnings per share, basic $ 0.62 $ 0.50 $ 1.57 $ 1.38
Earnings per share, diluted $ 0.62 $ 0.50 $ 1.57 $ 1.38