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Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Interest income    
Interest and fees on loans $ 9,338 $ 10,685
Interest on investment securities: Taxable 1,988 1,142
Interest on investment securities: Exempt from federal income tax 411 428
Total investment income 2,399 1,570
Other 17 33
Total interest income 11,754 12,288
Interest expense    
Interest on deposits 1,167 1,327
Interest on short-term borrowings 14 14
Interest on long-term borrowings 1,654 1,614
Total interest expense 2,835 2,955
Net interest income 8,919 9,333
Provision for loan losses 364 865
Net interest income after provision for loan losses 8,555 8,468
Other operating income    
Changes in fair value on impaired securities 4,389 1,663
Portion of gain recognized in other comprehensive income (before taxes) (4,389) (1,663)
Net securities impairment losses recognized in operations 0 0
Net (losses)/gains - other (63) 329
Total net (losses)/gains (63) 329
Service charges 709 886
Trust department 1,252 1,199
Debit card income 457 476
Bank owned life insurance 243 249
Brokerage commissions 205 162
Other 174 257
Total other income 3,040 3,229
Total other operating income 2,977 3,558
Other operating expenses    
Salaries and employee benefits 4,685 4,844
FDIC premiums 391 451
Equipment 655 642
Occupancy 655 704
Data processing 782 729
Other Real Estate Owned 457 18
Other 2,135 2,148
Total other operating expenses 9,760 9,536
Income before income tax expense 1,772 2,490
Applicable income tax expense 414 568
Net Income 1,358 1,922
Accumulated preferred stock dividends and discount accretion (447) (437)
Net Income Available to Common Shareholders $ 911 $ 1,485
Basic and diluted net income per common share $ 0.15 $ 0.24
Weighted average number of basic and diluted shares outstanding 6,211 6,199