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Condensed Consolidated Statements of Income (Unaudited) (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 Income        
Loans receivable $ 16,631 $ 16,906 $ 29,585 $ 33,346
Investment securities        
Taxable 2,395 2,047 4,785 4,069
Tax exempt 1,096 1,024 2,219 1,991
Total interest income 20,122 19,977 36,589 39,406
Interest Expense        
Deposits 1,355 1,445 2,632 2,925
Borrowed funds 1,478 1,456 2,900 2,904
Subordinated debentures 501 501 997 992
Total interest expense 3,334 3,402 6,529 6,821
Net Interest Income 16,788 16,575 30,060 32,585
Provision for loan losses 339 729 339 2,813
Net Interest Income after Provision for Loan Losses 16,449 15,846 29,721 29,772
Non-interest Income        
Service charges on deposit accounts 1,038 988 1,961 1,901
Wire transfer fees 145 203 257 393
Interchange fees 1,254 1,060 2,213 1,926
Fiduciary activities 1,199 1,047 2,247 2,187
Gain on sale of investment securities (includes $0 for the three and six months ended June 30, 2014 and $0 for the three months ended and $368 for the six months ended June 30, 2013, related to accumulated other comprehensive earnings reclassifications) 0   0 368
Gain on sale of mortgage loans 2,537 2,807 3,948 5,913
Mortgage servicing income net of impairment 233 302 440 465
Increase in cash value of bank owned life insurance 252 257 485 509
Other income (31) 185 598 647
Total non-interest income 6,627 6,849 12,149 14,309
Non-interest Expense        
Salaries and employee benefits 8,293 7,721 15,776 15,225
Net occupancy expenses 1,360 1,295 2,784 2,606
Data processing 937 818 1,807 1,418
Professional fees 419 454 1,027 953
Outside services and consultants 1,298 486 1,959 1,198
Loan expense 1,272 1,402 2,287 2,516
FDIC insurance expense 285 268 541 551
Other losses 95 163 133 91
Other expense 2,449 2,188 4,608 4,216
Total non-interest expense 16,408 14,795 30,922 28,774
Income Before Income Tax 6,668 7,900 10,948 15,307
Income tax expense (includes $0 for the three and six months ended June 30, 2014 and $0 for the three months ended and $129 for the six months ended June 30, 2013, related to income tax expense from reclassification items) 1,890 2,235 2,753 4,331
Net Income 4,778 5,665 8,195 10,976
Preferred stock dividend and discount accretion (32) (96) (63) (242)
Net Income Available to Common Shareholders $ 4,746 $ 5,569 $ 8,132 $ 10,734
Basic Earnings Per Share $ 0.52 $ 0.65 $ 0.91 $ 1.25
Diluted Earnings Per Share $ 0.50 $ 0.62 $ 0.88 $ 1.20