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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
INTEREST AND DIVIDEND INCOME:        
Loans including fees $ 12,281 $ 12,394 $ 24,583 $ 24,649
Federal funds sold          
Securities:        
Taxable 3,474 3,890 6,883 7,575
Tax-exempt 965 905 1,922 1,776
Dividends 38 18 74 31
Total interest and dividend income 16,758 17,207 33,462 34,031
INTEREST EXPENSE:        
Deposits 1,955 2,946 4,189 6,095
Borrowed funds 779 787 1,608 1,584
Subordinated debentures (includes $105 and $98 for three months ended and $202 and $192 for six months ended accumulated other comprehensive income reclassification for change in fair value of interest rate swap agreements in 2013 and 2012, respectively) 198 200 388 401
Total interest expense 2,932 3,933 6,185 8,080
NET INTEREST INCOME 13,826 13,274 27,277 25,951
PROVISION FOR LOAN LOSSES 3,115 1,746 4,045 2,850
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 10,711 11,528 23,232 23,101
NON-INTEREST INCOME:        
Wealth and asset management fees 538 426 1,112 813
Service charges on deposit accounts 1,019 996 1,961 1,971
Other service charges and fees 524 468 954 900
Net realized gains on available-for-sale securities (includes $252 and $731 for three months ended and $328 and $1,297 for six months ended accumulated other comprehensive income reclassification for net realized gains on available-for-sale securities in 2013 and 2012, respectively) 252 731 328 1,297
Net realized and unrealized gains (losses) on trading securities 28 (140) 331 180
Mortgage banking 271 196 526 461
Bank owned life insurance 815 262 1,077 523
Other 324 325 553 534
Total non-interest income 3,771 3,264 6,842 6,679
NON-INTEREST EXPENSES:        
Salaries and benefits 5,332 4,619 10,529 9,344
Net occupancy expense 1,281 1,107 2,598 2,256
Data processing 1,088 692 1,855 1,418
State and local taxes 436 365 875 730
Legal, professional, and examination fees 502 299 1,276 528
Advertising 246 250 492 500
FDIC insurance premiums 319 274 598 533
Other 1,589 1,227 2,252 2,538
Total non-interest expenses 10,793 8,833 20,475 17,847
INCOME BEFORE INCOME TAXES 3,689 5,959 9,599 11,933
INCOME TAX EXPENSE (includes $51 and $222 for three months ended and $44 and $387 for six months ended income tax expense from reclassification items in 2013 and 2012, respectively) 738 1,623 2,351 3,250
NET INCOME $ 2,951 $ 4,336 $ 7,248 $ 8,683
EARNINGS PER SHARE:        
Basic $ 0.24 $ 0.35 $ 0.58 $ 0.70
Diluted $ 0.24 $ 0.35 $ 0.58 $ 0.70
DIVIDENDS PER SHARE:        
Cash dividends per share $ 0.165 $ 0.165 $ 0.33 $ 0.33