XML 59 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Interest and Dividend Income        
Loans, including fees $ 13,046 $ 13,912 $ 25,984 $ 28,826
Loans held-for-sale 29 45 54 86
Securities:        
Taxable 3,352 2,698 6,854 4,996
Tax exempt 118 174 266 293
Dividends from Federal Reserve Bank and Federal Home Loan Bank stock 78 76 154 152
Interest bearing deposits with financial institutions 20 27 35 69
Total interest and dividend income 16,643 16,932 33,347 34,422
Interest Expense        
Savings, NOW, and money market deposits 188 221 387 449
Time deposits 1,210 1,800 2,531 3,653
Other short-term borrowings 3   5 20
Junior subordinated debentures 1,388 1,314 2,775 2,601
Subordinated debt 198 205 394 401
Notes payable and other borrowings 4 4 8 8
Total interest expense 2,991 3,544 6,100 7,132
Net interest and dividend income 13,652 13,388 27,247 27,290
(Release) provision for loan losses (1,000) (1,800) (2,000) (4,300)
Net interest and dividend income after provision for loan losses 14,652 15,188 29,247 31,590
Noninterest Income        
Trust income 1,677 1,681 3,136 3,172
Service charges on deposits 1,796 1,799 3,516 3,475
Secondary mortgage fees 155 267 267 497
Mortgage servicing income, net of changes in fair value 64 743 17 987
Net gain on sales of mortgage loans 1,038 1,811 1,700 3,787
Securities (losses) gains, net 295 745 226 2,198
Increase in cash surrender value of bank-owned life insurance 366 372 724 779
Death benefit realized on bank-owned life insurance   375   375
Debit card interchange income 930 900 1,760 1,692
Lease revenue from other real estate owned 163 257 442 665
Other income 1,160 1,147 2,456 2,885
Total noninterest income 7,481 9,840 13,802 19,847
Noninterest Expense        
Salaries and employee benefits 9,183 9,177 18,284 18,209
Occupancy expense, net 1,185 1,242 2,666 2,521
Furniture and equipment expense 984 1,104 1,967 2,248
FDIC insurance 627 1,024 906 2,059
General bank insurance 343 491 832 1,340
Amortization of core deposit 511 525 1,023 1,050
Advertising expense 459 328 762 494
Debit card interchange expense 412 362 790 706
Legal fees 409 486 666 809
Other real estate expense 1,650 3,302 2,658 6,399
Other expense 3,289 3,510 6,014 6,654
Total noninterest expense 19,052 21,551 36,568 42,489
Income (loss) before income taxes 3,081 3,477 6,481 8,948
Income tax expense (benefit) 1,060   2,258  
Net Income (loss) 2,021 3,477 4,223 8,948
Preferred stock dividends and accretion of discount 1,348 1,305 2,920 2,594
Dividends waived upon preferred stock redemption (5,433)   (5,433)  
Gain on preferred stock redemption (1,348)   (1,348)  
Net income (loss) available to common stockholders $ 7,454 $ 2,172 $ 8,084 $ 6,354
Basic earnings (loss) per share (in dollars per share) $ 0.26 $ 0.15 $ 0.38 $ 0.45
Diluted earnings (loss) per share (in dollars per share) $ 0.26 $ 0.15 $ 0.38 $ 0.45