XML 16 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Earnings (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Interest income:        
Loans, including fees $ 5,224 $ 5,490 $ 10,552 $ 10,755
Securities 1,607 1,860 3,223 3,829
Federal funds sold and interest bearing bank deposits 29 7 60 21
Total interest income 6,860 7,357 13,835 14,605
Interest expense:        
Deposits 1,349 1,605 2,753 3,330
Short-term borrowings 3 5 7 9
Long-term debt interest expense 276 435 702 953
Total interest expense 1,628 2,045 3,462 4,292
Net interest income 5,232 5,312 10,373 10,313
Provision for loan losses 0 600 400 1,200
Net interest income after provision for loan losses 5,232 4,712 9,973 9,113
Noninterest income:        
Service charges on deposit accounts 234 279 483 570
Mortgage lending 837 785 1,647 1,454
Bank-owned life insurance gain 101 113 196 212
Gain on sale of affordable housing investments 0 0 0 3,268
Other noninterest income 381 386 721 744
Securities gains, net:        
Realized gains, net 518 251 679 560
Total other-than-temporary impairments 0 0 0 (130)
Non-credit portion of other-than-temporary impairments (transferred from) recognized in other comprehensive income 0 0 0 0
Total securities gains (losses), net 518 251 679 430
Total noninterest income 2,071 1,814 3,726 6,678
Noninterest expense:        
Salaries and benefits 2,114 2,205 4,364 4,348
Net occupancy and equipment 333 336 664 674
Professional fees 209 188 385 375
FDIC and other regulatory assessments 143 185 337 368
Other real estate owned, net 20 (6) 43 63
Prepayment penalty on long-term debt 1,046 12 1,471 3,720
Other noninterest expense 859 1,128 1,686 2,042
Total noninterest expense 4,724 4,048 8,950 11,590
Earnings before income taxes 2,579 2,478 4,749 4,201
Income tax expense 672 449 1,153 707
Net earnings $ 1,907 $ 2,029 $ 3,596 $ 3,494
Net earnings per share:        
Earnings per share basic and diluted $ 0.52 $ 0.56 $ 0.99 $ 0.96
Weighted average shares outstanding:        
Basic and diluted weighted average shares outstanding 3,642,955 3,642,826 3,642,936 3,642,782