XML 25 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Interest and dividend income:    
Loans $ 15,958 $ 15,270
Investment securities 799 954
Other interest-earning assets 19 16
Total interest and dividend income 16,776 16,240
Interest expense:    
Deposits 1,537 1,915
Borrowed funds 16 22
Junior subordinated debentures 294 294
Total interest expense 1,847 2,231
Net interest income 14,929 14,009
Provision for loan losses 300 922
Net interest income after provision for loan losses 14,629 13,087
Non-interest income:    
Investment advisory fees 1,021 956
Deposit service fees 1,089 1,023
Income on bank-owned life insurance 134 140
Net gains on sales of investment securities 47 0
Gains on sales of loans 240 220
Other income 511 419
Total non-interest income 3,042 2,758
Non-interest expense:    
Salaries and employee benefits 7,503 6,976
Occupancy and equipment expenses 1,414 1,449
Technology and telecommunications expenses 999 973
Advertising and public relations expenses 789 665
Deposit insurance premiums 277 489
Audit, legal and other professional fees 483 310
Supplies and postage expenses 231 218
Investment advisory and custodial expenses 97 104
Other operating expenses 1,093 994
Total non-interest expense 12,886 12,178
Income before income taxes 4,785 3,667
Provision for income taxes 1,612 1,203
Net income $ 3,173 $ 2,464
Basic earnings per share $ 0.33 $ 0.26
Diluted earnings per share $ 0.33 $ 0.26
Basic weighted average common shares outstanding 9,499,568 9,318,522
Diluted weighted average common shares outstanding 9,568,677 9,356,479