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Consolidated Statements of Income (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Interest and dividend income    
Interest and fees on loans $ 9,392,000 $ 10,173,000
Interest on deposits with other banks 0 2,000
Interest and dividends on investments 3,714,000 4,079,000
Total interest income 13,106,000 14,254,000
Interest expense    
Interest on deposits 2,193,000 2,563,000
Interest on borrowed funds 1,107,000 1,186,000
Total interest expense 3,300,000 3,749,000
Net interest income 9,806,000 10,505,000
Provision for loan losses 2,100,000 2,100,000
Net interest income after provision for loan losses 7,706,000 8,405,000
Non-interest income    
Investment management and fiduciary income 396,000 424,000
Service charges on deposit accounts 638,000 640,000
Net securities gains 523,000 0
Mortgage origination and servicing income (156,000) 459,000
Other operating income 767,000 754,000
Total non-interest income 2,168,000 2,277,000
Non-interest expense    
Salaries and employee benefits 3,084,000 3,077,000
Occupancy expense 414,000 449,000
Furniture and equipment expense 573,000 550,000
FDIC insurance premiums 301,000 401,000
Amortization of identified intangibles 71,000 71,000
Other operating expense 1,735,000 1,940,000
Total non-interest expense 6,178,000 6,488,000
Income before income taxes 3,696,000 4,194,000
Applicable income taxes 783,000 1,051,000
NET INCOME 2,913,000 3,143,000
Net income available to common shareholders 2,732,000 2,806,000
Basic earnings per common share $ 0.28 $ 0.29
Diluted earnings per common share $ 0.28 $ 0.29
Other comprehensive income, net of tax    
Net unrealized gain/(loss) on securities available for sale, net of taxes of $168,000 in 2012 and $363,000 in 2011 (313,000) 668,000
Unrecognized transition obligation for postretirement benefits, net of taxes of $2,000 in 2012 and $2,000 in 2011 5,000 5,000
Other comprehensive income (308,000) 673,000
Comprehensive income $ 2,605,000 $ 3,816,000