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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (UNAUDITED) (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2011
Jun. 30, 2010
Taxable $ 5,413 $ 4,952 $ 10,549   $ 9,669
Tax-exempt 346 274 703   544
Interest and dividends on investment securities available-for-sale:          
Taxable 633 745 1,299   1,496
Tax-exempt 411 488 886   982
Dividends 8 13 17   26
Interest on interest-bearing balances with banks 3 1 5   2
Interest on federal funds sold 11 8 13   12
Total interest income 6,825 6,481 13,472   12,731
INTEREST EXPENSE:          
Interest on deposits 1,132 1,221 2,176   2,473
Interest on short-term borrowings 76 101 162   172
Interest on long-term debt 263 393 520   785
Total interest expense 1,471 1,715 2,858   3,430
Net interest income 5,354 4,766 10,614   9,301
Provision for loan losses 804 682 1,225   1,577
Net interest income after provision for loan losses 4,550 4,084 9,389   7,724
NONINTEREST INCOME:          
Service charges, fees and commissions 711 1,017 1,420   1,970
Wealth management income 236 99 375   159
Mortgage banking income 98 63 146   140
Net gains on sale of investment securities available-for-sale 2 179 12   201
Other than temporary investment equity securities impairment     (84)    
Net gains (loss) on sale of other real estate 1,583 (47) 1,583   (47)
Total noninterest income 2,630 1,311 3,452   2,423
NONINTEREST EXPENSE:          
Salaries and employee benefits expense 1,628 1,395 3,074   2,706
Net occupancy and equipment expense 699 614 1,375   1,236
Other expenses 1,743 1,501 3,016   2,605
Total noninterest expense 4,070 3,510 7,465   6,547
Income before income taxes 3,110 1,885 5,376   3,600
Provision for income tax expense 751 361 1,218   558
Net income 2,359 1,524 4,158   3,042
OTHER COMPREHENSIVE INCOME:          
Unrealized gains on investment securities available-for-sale 3,183 2,418 4,283   3,590
Reclassification adjustment for gains included in net income (2) (179) (12)   (201)
Reclassification adjustment for other than temporary impairment     84    
Income taxes related to other comprehensive income 1,082 761 1,481   1,152
Other comprehensive income, net of income taxes 2,099 1,478 2,874   2,237
Comprehensive income $ 4,458 $ 3,002 $ 7,032   $ 5,279
PER SHARE DATA:          
Earnings (basic) (in dollars per share) $ 0.75 $ 0.49 $ 1.32   $ 0.97
Earnings (dilutive) (in dollars pre share) $ 0.75 $ 0.49   $ 1.32 $ 0.97
Cash dividends (in dollars per share) $ 0.20 $ 0.20 $ 0.40   $ 0.39
Average common shares outstanding for the period (in shares) 3,144,386 3,137,939 3,144,386 3,144,386 3,137,939