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Statement of Earnings (USD $)
In Thousands, except 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, including fees $ 5,490 $ 5,371 $ 10,755 $ 10,658
Securities 1,860 2,613 3,829 5,151
Federal funds sold and interest bearing bank deposits 7 14 21 23
Total interest income 7,357 7,998 14,605 15,832
Interest expense:        
Deposits 1,605 2,092 3,330 4,262
Short-term borrowings 5 3 9 6
Long-term debt interest expense 435 846 953 1,693
Total interest expense 2,045 2,941 4,292 5,961
Net interest income 5,312 5,057 10,313 9,871
Provision for loan losses 600 600 1,200 1,200
Net interest income after provision for loan losses 4,712 4,457 9,113 8,671
Noninterest income:        
Service charges on deposit accounts 279 290 570 581
Mortgage lending 785 384 1,454 768
Bank-owned life insurance gain 113 107 212 214
Gain on sale of affordable housing investments 0 0 3,268 0
Affordable housing investment losses 0 (230) 0 (230)
Other noninterest income 386 355 744 708
Securities gains, net:        
Realized gains, net 251 445 560 450
Total other-than-temporary impairments 0 (51) (130) (312)
Non-credit portion of other-than-temporary impairments recognized in other comprehensive income 0 0 0 210
Total securities gains (losses), net 251 394 430 348
Total noninterest income 1,814 1,300 6,678 2,389
Noninterest expense:        
Salaries and benefits 2,205 2,013 4,348 3,943
Net occupancy and equipment 336 328 674 674
Professional fees 188 189 375 360
FDIC and other regulatory assessments 185 199 368 481
Other real estate owned, net (6) 718 63 701
Prepayment penalty on long-term debt 12 0 3,720 0
Other noninterest expense 1,128 861 2,042 1,743
Total noninterest expense 4,048 4,308 11,590 7,902
Earnings before income taxes 2,478 1,449 4,201 3,158
Income tax expense (benefit) 449 (8) 707 152
Net earnings $ 2,029 $ 1,457 $ 3,494 $ 3,006
Net earnings per share:        
Earnings per share basic and diluted $ 0.56 $ 0.40 $ 0.96 $ 0.83
Weighted average shares outstanding:        
Basic and diluted weighted average shares outstanding 3,642,826 3,642,738 3,642,782 3,642,733