XML 38 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 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Interest and dividend income        
Loans and fees on loans $ 1,623 $ 2,005 $ 3,397 $ 4,156
Federal funds sold and securities purchased under agreements to resell 8 12 21 24
Investment securities:        
Taxable 429 345 795 684
Exempt from federal income tax 176 168 349 341
Deposits with banks 1   2 1
Total interest income 2,237 2,530 4,564 5,206
Interest expense        
Deposits 795 748 1,584 1,537
Total interest expense 795 748 1,584 1,537
Net interest income 1,442 1,782 2,980 3,669
Provision for loan losses 3,995 253 3,988 439
Net Interest Income after provision for loan losses (2,553) 1,529 (1,008) 3,230
Noninterest income        
Service charges on deposit accounts 43 55 87 102
Other service charges and fees 31 31 59 57
Net realized gains on sales of securities 10 43 26 43
Other operating income 78 94 157 170
Total noninterest income 162 223 329 372
Noninterest expense        
Salaries and employee benefits 1,361 823 2,200 1,615
Occupancy and equipment 156 135 314 312
Foreclosed assets, Net 407 27 388 34
Loss on sale of fixed assets   12   82
Other operating expense 781 419 1,191 826
Total noninterest expense 2,705 1,416 4,093 2,869
Income before income taxes (5,096) 336 (4,772) 733
Income tax expense (benefit) (1,818) 15 (1,787) 89
Net Income $ (3,278) $ 321 $ (2,985) $ 644
Basic earnings per share $ (2.13) $ 0.21 $ (1.94) $ 0.42
Diluted earnings per share $ (2.13) $ 0.21 $ (1.94) $ 0.42
Weighted average basic shares outstanding 1,535,733 1,535,733 1,535,733 1,535,733
Weighted average diluted shares outstanding 1,535,733 1,535,733 1,535,733 1,535,733