Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2011

Quarterly Financial Information (Unaudited)

Quarterly Financial Information (Unaudited)

 

Quarterly Financial Information(Unaudited)

The following quarterly financial information for the years ended December 31, 2011 and 2010 is unaudited.However, in the opinion of management, all adjustments, which include normal recurring adjustments necessary to present fairly the results of operations for the periods, are reflected.

(In thousands, except per share data)
2011	March 31			June 30		September 30		December 31
Total interest income	$	10,242		$	10,196	$	9,952	$	9,133
Total interest expense		2,767			2,725		2,599		2,460
Net interest income		7,475			7,471		7,353		6,673
Provision for loan losses		2,500			1,750		1,400		1,150
Net interest income after provision for loan losses		4,975			5,721		5,953		5,523
Total noninterest income		1,255			1,447		1,654		1,305
Total noninterest expense		6,158			6,247		6,101		6,012
Income before provision (benefit) for income taxes		72			921		1,506		816
Provision (benefit) for income taxes		(148	)		277		420		220
Net income		220			644		1,086		596
Preferred stock dividends and discount accretion		384			395		386		393
Income available (loss attributable) to common shareholders	$	(164	)	$	249	$	700	$	203
Net income (loss) per common share - Basic	$	(0.02	)	$	0.03	$	0.09	$	0.03
Net income (loss) per common share - Diluted	$	(0.02	)	$	0.03	$	0.09	$	0.03

(In thousands, except per share data)
2010	March 31		June 30		September 30		December 31
Total interest income	$	11,513	$	10,944	$	10,726	$	10,852
Total interest expense		4,049		3,681		3,314		2,991
Net interest income		7,464		7,263		7,412		7,861
Provision for loan losses		1,500		1,500		1,500		2,750
Net interest income after provision for loan losses		5,964		5,763		5,912		5,111
Total noninterest income		910		1,170		1,460		1,529
Total noninterest expense		5,941		6,040		6,404		6,605
Income before provision (benefit) for income taxes		933		893		968		35
Provision (benefit) for income taxes		185		212		242		(50	)
Net income		748		681		726		85
Preferred stock dividends and discount accretion		373		379		385		383
Income available (loss attributable) to common shareholders	$	375	$	302	$	341	$	(298	)
Net income (loss) per common share - Basic	$	0.05	$	0.04	$	0.05	$	(0.04	)
Net income (loss) per common share - Diluted	$	0.05	$	0.04	$	0.05	$	(0.04	)