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Consolidated Statement of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Interest income        
Interest and fees on loans $ 9,359 $ 10,336 $ 18,697 $ 21,021
Interest on investment securities: taxable 1,756 1,155 3,744 2,297
Interest on investment securities: Exempt from federal income tax 393 440 804 868
Total investment income 2,149 1,595 4,548 3,165
Other 159 148 176 181
Total interest income 11,667 12,079 23,421 24,367
Interest expense        
Interest on deposits 1,168 1,282 2,335 2,609
Interest on short-term borrowings 16 15 30 29
Interest on long-term borrowings 1,543 1,639 3,197 3,253
Total interest expense 2,727 2,936 5,562 5,891
Net interest income 8,940 9,143 17,859 18,476
Provision for loan losses 577 81 941 946
Net interest income after provision for loan losses 8,363 9,062 16,918 17,530
Other operating income        
Changes in fair value on impaired securities 681 691 5,070 2,353
Portion of gain recognized in other comprehensive income (before taxes) (681) (691) (5,070) (2,353)
Net securities impairment losses recognized in operations 0 0 0 0
Net gains - other 1,024 27 961 356
Total net gains 1,024 27 961 356
Service charges 757 871 1,466 1,757
Trust department 1,316 1,190 2,568 2,389
Debit card income 530 508 987 984
Bank owned life insurance 245 250 488 499
Brokerage commissions 201 199 406 361
Other 186 99 360 356
Total other income 3,235 3,117 6,275 6,346
Total other operating income 4,259 3,144 7,236 6,702
Other operating expenses        
Salaries and employee benefits 5,018 4,796 9,703 9,640
FDIC premiums 491 478 882 929
Equipment 651 649 1,306 1,291
Occupancy 621 680 1,276 1,384
Data processing 794 770 1,576 1,499
Other real estate owned 1,157 (66) 1,614 (48)
Other 2,312 2,450 4,447 4,598
Total other operating expenses 11,044 9,757 20,804 19,293
Income before income tax expense 1,578 2,449 3,350 4,939
Applicable income tax expense 338 607 752 1,175
Net Income 1,240 1,842 2,598 3,764
Accumulated preferred stock dividends and discount accretion (803) (441) (1,250) (878)
Net Income Available to Common Shareholders $ 437 $ 1,401 $ 1,348 $ 2,886
Basic and diluted net income per common share $ 0.07 $ 0.23 $ 0.22 $ 0.47
Weighted average number of basic and diluted shares outstanding 6,222 6,207 6,217 6,203