XML 55 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Operations (Unaudited) (USD $)
 3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Interest income        
Loans, including fees $ 13,386,000 $ 14,951,000 $ 40,653,000 $ 47,854,000
Securities, taxable 1,009,000 1,588,000 3,351,000 5,285,000
Securities, tax-exempt 319,000 439,000 1,109,000 1,368,000
Federal funds sold 46,000 60,000 116,000 138,000
Interest-bearing deposit balances 8,000 6,000 22,000 18,000
Total interest income 14,768,000 17,044,000 45,251,000 54,663,000
Interest expense        
Deposits 2,728,000 4,040,000 8,581,000 13,007,000
Short-term borrowings 39,000 73,000 130,000 350,000
Federal Home Loan Bank advances 183,000 410,000 871,000 1,622,000
Other borrowings 234,000 226,000 705,000 782,000
Total interest expense 3,184,000 4,749,000 10,287,000 15,761,000
Net interest income 11,584,000 12,295,000 34,964,000 38,902,000
Provision for loan losses (400,000) 1,100,000 (3,400,000) 5,000,000
Net interest income after provision for loan losses 11,984,000 11,195,000 38,364,000 33,902,000
Noninterest income        
Services charges on accounts 378,000 405,000 1,142,000 1,228,000
Earnings on bank owned life insurance 378,000 452,000 1,170,000 1,340,000
Mortgage banking activities 447,000 195,000 1,021,000 453,000
Rental income from other real estate owned 270,000 208,000 806,000 599,000
Other income 584,000 544,000 1,792,000 1,639,000
Total noninterest income 2,057,000 1,804,000 5,931,000 5,259,000
Noninterest expense        
Salaries and benefits 4,849,000 4,636,000 14,394,000 13,371,000
Occupancy 598,000 707,000 1,947,000 2,116,000
Furniture and equipment depreciation, rent and maintenance 282,000 305,000 888,000 912,000
Nonperforming asset costs 1,576,000 1,589,000 4,931,000 6,637,000
FDIC insurance costs 294,000 639,000 894,000 2,274,000
Other expense 2,586,000 2,099,000 7,389,000 6,689,000
Total noninterest expenses 10,185,000 9,975,000 30,443,000 31,999,000
Income before federal income tax expense 3,856,000 3,024,000 13,852,000 7,162,000
Federal income tax expense 1,240,000 0 4,365,000 0
Net income 2,616,000 3,024,000 9,487,000 7,162,000
Preferred stock dividends and accretion 0 342,000 1,030,000 1,011,000
Net income attributable to common shares $ 2,616,000 $ 2,682,000 $ 8,457,000 $ 6,151,000
Basic earnings per share $ 0.30 $ 0.31 $ 0.98 $ 0.72
Diluted earnings per share $ 0.30 $ 0.30 $ 0.95 $ 0.69
Cash dividends per share $ 0.00 $ 0.00 $ 0.00 $ 0.00
Average basic shares outstanding 8,622,719 8,604,263 8,612,831 8,602,654
Average diluted shares outstanding 8,653,751 8,868,122 8,896,728 8,875,025