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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
INTEREST INCOME        
Loans receivable, including fees $ 6,431 $ 5,468 $ 12,804 $ 10,396
Securities 1,007 1,135 2,033 2,225
Other 7 16 11 24
Total interest income 7,445 6,619 14,848 12,645
INTEREST EXPENSE        
Deposits 942 932 1,903 1,817
Short-term borrowings 13 27 24 51
Other borrowings 243 342 487 678
Total interest expense 1,198 1,301 2,414 2,546
NET INTEREST INCOME 6,247 5,318 12,434 10,099
PROVISION FOR LOAN LOSSES 400 430 750 650
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 5,847 4,888 11,684 9,449
OTHER INCOME        
Service charges and fees 559 592 1,113 1,141
Income from fiduciary activities 80 105 178 218
Net realized gains on sales of securities 285 12 687 224
Gains on sale of loans and servicing rights 66 98 60 241
Other 216 186 459 377
Total other income 1,206 993 2,497 2,201
OTHER EXPENSES        
Salaries and employee benefits 2,047 1,832 4,198 3,533
Occupancy, furniture & equipment, net 490 408 977 806
Data processing related 216 187 448 402
Taxes, other than income 149 143 301 272
Professional fees 217 126 426 281
Merger related expenses   488 18 755
Federal Deposit Insurance Corporation insurance assessment 97 95 196 215
Foreclosed real estate owned 85 17 207 36
Other 656 640 1,333 1,170
Total other expenses 3,957 3,936 8,104 7,470
INCOME BEFORE INCOME TAXES 3,096 1,945 6,077 4,180
INCOME TAX EXPENSE 838 461 1,633 1,036
NET INCOME $ 2,258 $ 1,484 $ 4,444 $ 3,144
BASIC EARNINGS PER SHARE $ 0.69 $ 0.50 $ 1.35 $ 1.10
DILUTED EARNINGS PER SHARE $ 0.69 $ 0.50 $ 1.35 $ 1.10