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Business Segments
 6 Months Ended
Jun. 30, 2012
Business Segments [Abstract]  
Business Segments

Note 8 – Business Segments

The Company has two reportable business segments: (i) a traditional full service community banking segment and, (ii) a mortgage loan origination business. The community banking business segment includes Bank of the James which provides loans, deposits, investments and insurance to retail and commercial customers throughout Region 2000. The mortgage segment provides a variety of mortgage loan products principally within Region 2000. Mortgage loans are originated and sold in the secondary market through purchase commitments from investors. Because of the pre-arranged purchase commitments, there is minimal risk to the Company.

Both of the Company's reportable segments are service based. The mortgage business is a fee-based business while the Bank's primary source of revenue is net interest income. The Bank also provides a referral network for the mortgage origination business. The mortgage business may also be in a position to refer its customers to the Bank for banking services when appropriate.

Information about reportable business segments and reconciliation of such information to the consolidated financial statements for six months ended June 30, 2012 and 2011 was as follows (dollars in thousands):

Business Segments

    Community            
    Banking     Mortgage     Total
Three months ended June 30, 2012                
Net interest income $ 3,836   $ -   $ 3,836
Provision for loan losses   425     -     425
Net interest income after provision for loan losses   3,411     -     3,411
Noninterest income   554     289     843
Noninterest expenses   3,318     241     3,559
Income before income taxes   647     48     695
Income tax expense   193     16     209
Net income $ 454 $   32   $ 486
Total assets $  431,967 $   1,237 $ $  433,204

 

Six months ended June 30, 2012                
Net interest income $ 7,702   $ -   $ 7,702
Provision for loan losses   1,175     -     1,175
Net interest income after provision for loan losses   6,527     -     6,527
Noninterest income   999     515     1,514
Noninterest expenses   6,407     436     6,843
Income before income taxes   1,119     79     1,198
Income tax expense   325     27     352
Net income $ 794 $   52   $ 846
Total assets  $ 431,967 $   1,237 $  $ 433,204

 

Three months ended June 30, 2011                
Net interest income $ 3,806   $ -   $ 3,806
Provision for loan losses   906     -     906
Net interest income after provision for loan losses   2,900     -     2,900
Noninterest income   515     243     758
Noninterest expenses   2,990     214     3,204
Income before income taxes   425     29     454
Income tax expense   125     10     135
Net income $ 300 $   19   $ 319
Total assets   429,122 $   503 $  $ 429,625

 

Six months ended June 30, 2011                
Net interest income $ 7,513   $ -   $ 7,513
Provision for loan losses   1,485     -     1,485
Net interest income after provision for loan losses   6,028     -     6,028
Noninterest income   901     529     1,430
Noninterest expenses   5,915     459     6,374
Income before income taxes   1,014     70     1,084
Income tax expense   306     24     330
Net income $ 708 $   46   $ 754
Total assets  $ 429,122 $   503 $ $  429,625