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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 $ 19,121 $ 21,024 $ 38,927 $ 42,188
Mortgage-backed securities 2,235 2,667 4,553 5,230
Investment securities and other 693 546 1,432 1,110
Total interest income 22,049 24,237 44,912 48,528
Interest expense:        
Deposits 2,035 2,693 4,053 5,602
Borrowed funds 1,624 1,899 3,364 3,944
Total interest expense 3,659 4,592 7,417 9,546
Net interest income 18,390 19,645 37,495 38,982
Provision for loan losses 1,700 2,200 3,400 3,900
Net interest income after provision for loan losses 16,690 17,445 34,095 35,082
Other income:        
Loan servicing income 141 100 279 196
Fees and service charges 2,982 2,938 5,926 5,660
Net gain on sales of investment securities available for sale 226   226  
Net gain on sales of loans available for sale 947 609 1,918 1,368
Net loss from other real estate owned (47) (36) (98) (402)
Income from Bank Owned Life Insurance 295 284 601 531
Other 1 2 3 3
Total other income 4,545 3,897 8,855 7,356
Operating expenses:        
Compensation and employee benefits 6,794 7,114 13,631 14,156
Occupancy 1,314 1,305 2,618 2,499
Equipment 635 644 1,230 1,291
Marketing 435 420 780 756
Federal deposit insurance 522 723 1,054 1,464
Data processing 881 904 1,824 1,786
Legal 192 171 426 427
Check card processing 337 284 636 604
Accounting and audit 188 173 320 313
Other operating expense 1,569 1,647 3,288 3,216
Total operating expenses 12,867 13,385 25,807 26,512
Income before provision for income taxes 8,368 7,957 17,143 15,926
Provision for income taxes 2,995 2,854 6,123 5,717
Net income $ 5,373 $ 5,103 $ 11,020 $ 10,209
Basic earnings per share $ 0.30 $ 0.28 $ 0.61 $ 0.56
Diluted earnings per share $ 0.30 $ 0.28 $ 0.61 $ 0.56
Average basic shares outstanding 17,889 18,181 17,977 18,172
Average diluted shares outstanding 17,930 18,231 18,018 18,221