Consolidated Quarterly Financial Information

12 Months Ended

Dec. 31, 2011

Consolidated Quarterly Financial Information [Abstract]

Consolidated Quarterly Financial Information

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Note Q - Consolidated Quarterly Financial Information (unaudited)

                                                                                                                                                                              Quarters Ended

2011	Mar. 31		Jun. 30		Sept. 30		Dec. 31
Total interest income	$	12,025	$	10,817	$	10,693	$	10,505
Total interest expense		2,822		2,663		2,509		2,175
Net interest income		9,203		8,154		8,184		8,330
Provision for loan losses(1)		2,944		759		1,152		41
Noninterest income		3,659		1,687		1,058		818
Noninterest expense		7,098		6,981		7,001		7,219
Net income		2,033		1,555		886		1,361
Earnings per share	$	0.51	$	0.39	$	0.22	$	0.34
2010
Total interest income	$	12,228	$	11,599	$	11,438	$	11,249
Total interest expense		3,619		3,421		3,328		3,179
Net interest income		8,609		8,178		8,110		8,070
Provision for loan losses(2)		921		721		2,225		2,004
Noninterest income		1,865		1,524		1,382		1,383
Noninterest expense		6,881		6,976		6,863		5,923
Net income		1,906		1,471		421		1,298
Earnings per share	$	0.48	$	0.37	$	0.10	$	0.33
2009
Total interest income	$	12,611	$	11,710	$	11,733	$	11,569
Total interest expense		4,331		4,407		4,285		3,909
Net interest income		8,280		7,303		7,448		7,660
Provision for loan losses		848		296		957		1,111
Noninterest income		2,021		1,818		2,137		1,622
Noninterest expense		6,556		6,915		6,528		6,161
Net income		2,051		1,396		1,700		1,498
Earnings per share	$	0.51	$	0.35	$	0.43	$	0.38

(1) During the first quarter of 2011, the Company began taking partial charge-offs more quickly on collateral dependent impaired loans as a result of management's evaluation of the trends in the real estate market, the status of long-term, collateral dependent impaired loans and the current regulatory environment. The increases in partial charge-offs contributed to a higher historical loan loss factor, which required additional general allocations within the allowance for loan losses.

(2) During the third and fourth quarters of 2010, the Bank experienced an increase in its provision expense as a result of continued credit quality issues with three commercial relationships that resulted in additional impairment charges and partial charge-offs.