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Consolidated Statement of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Interest income        
Interest and fees on loans $ 9,447 $ 11,930 $ 28,144 $ 32,951
Interest on investment securities: taxable 1,579 1,529 5,323 3,826
Interest on investment securities: Exempt from federal income tax 371 447 1,175 1,315
Total investment income 1,950 1,976 6,498 5,141
Other 100 73 276 254
Total interest income 11,497 13,979 34,918 38,346
Interest expense        
Interest on deposits 1,154 1,251 3,489 3,860
Interest on short-term borrowings 16 16 46 45
Interest on long-term borrowings 1,502 1,666 4,699 4,919
Total interest expense 2,672 2,933 8,234 8,824
Net interest income 8,825 11,046 26,684 29,522
Provision for loan losses 688 (1,107) 1,629 (161)
Net interest income after provision for loan losses 8,137 12,153 25,055 29,683
Other operating income        
Changes in fair value on impaired securities 578 742 5,648 3,095
Portion of gain recognized in other comprehensive income (before taxes) (578) (742) (5,648) (3,095)
Net securities impairment losses recognized in operations 0 0 0 0
Net gains - other 166 (102) 1,127 254
Total net gains/(losses) 166 (102) 1,127 254
Service charges 747 894 2,213 2,651
Trust department 1,354 1,343 3,922 3,732
Debit card income 529 487 1,516 1,471
Bank owned life insurance 249 254 737 753
Brokerage commissions 201 245 607 606
Other 79 231 439 587
Total other income 3,159 3,454 9,434 9,800
Total other operating income 3,325 3,352 10,561 10,054
Other operating expenses        
Salaries and employee benefits 4,910 5,090 14,613 14,730
FDIC premiums 478 476 1,360 1,405
Equipment 625 657 1,931 1,948
Occupancy 592 632 1,868 2,016
Data processing 803 764 2,379 2,263
Other real estate owned 514 2,814 2,128 2,766
Other 1,977 2,558 6,424 7,156
Total other operating expenses 9,899 12,991 30,703 32,284
Income before income tax expense 1,563 2,514 4,913 7,453
Provision for income tax expense 223 678 975 1,853
Net Income 1,340 1,836 3,938 5,600
Accumulated preferred stock dividends and discount accretion (675) (448) (1,925) (1,326)
Net Income Available to Common Shareholders $ 665 $ 1,388 $ 2,013 $ 4,274
Basic and diluted net income per common share $ 0.10 $ 0.22 $ 0.32 $ 0.69
Weighted average number of basic and diluted shares outstanding 6,228 6,211 6,220 6,206