Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2011

Quarterly Results of Operations (Unaudited)

Note 21. Quarterly Results of Operations (Unaudited)

The following is a summary of consolidated unaudited quarterly results of operations:

2011
(Dollars in thousands,	Three months ended,
except per share amounts)	December 31		September 30		June 30		March 31

Interest income	$	4,174	$	4,349	$	4,323	$	4,286
Interest expense		902		915		927		939
Net interest income		3,272		3,434		3,396		3,347
Provision for credit losses		288		150		-		225
Net securities gains		63		85		73		188
Income before income taxes		831		1,009		998		922
Net income		756		770		758		709
Net income per share (basic and diluted)	$	0.28	$	0.28	$	0.28	$	0.26

2010
(Dollars in thousands,	Three months ended,
except per share amounts)	December 31			September 30		June 30		March 31

Interest income	$	4,387		$	4,608	$	4,612	$	4,572
Interest expense		993			1,397		1,431		1,478
Net interest income		3,394			3,211		3,181		3,094
Provision for credit losses		-			300		450		300
Net securities gains		(1	)		176		-		-
Income before income taxes		881			900		318		451
Net income		655			689		322		399
Net income per share (basic and diluted)	$	0.24		$	0.25	$	0.12	$	0.15

2009
(Dollars in thousands,	Three months ended,
except per share amounts)	December 31			September 30		June 30		March 31

Interest income	$	4,673		$	4,749	$	4,689	$	4,533
Interest expense		1,570			1,649		1,655		1,668
Net interest income		3,103			3,100		3,034		2,865
Provision for credit losses		1,747			337		209		150
Net securities gains		402			135		51		(2	)
Income before income taxes		(699	)		648		570		510
Net income		(210	)		527		490		455
Net income per share (basic and diluted)	$	(0.08	)	$	0.20	$	0.18	$	0.16

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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