XML 17 R4.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
INTEREST INCOME      
Interest and fees on loans $ 35,126 $ 35,140 $ 39,058
Interest and dividends on investment securities:      
Taxable 3,602 2,957 2,072
Tax-exempt 10 12 17
Interest on federal funds sold 3 1 4
Interest on deposits with other banks 130 179 200
Total interest income 38,871 38,289 41,351
INTEREST EXPENSE      
Interest on deposits 3,331 4,229 6,448
Interest on short-term borrowings 15 18 27
Total interest expense 3,346 4,247 6,475
NET INTEREST INCOME 35,525 34,042 34,876
Provision for credit losses 2,075 3,350 27,784
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 33,450 30,692 7,092
NONINTEREST INCOME      
Service charges on deposit accounts 2,867 2,407 2,371
Trust and investment fee income 1,627 1,860 1,613
Gains on sales of investment securities 0 23 913
Insurance agency commissions income 8,274 9,525 10,647
Loss on termination of cash flow hedge 0 0 (1,306)
Other noninterest income 2,648 2,966 3,221
Total noninterest income 15,416 16,781 17,459
NONINTEREST EXPENSE      
Salaries and wages 17,540 17,600 17,346
Employee benefits 3,905 4,092 4,094
Occupancy expense 2,420 2,339 2,344
Furniture and equipment expense 926 975 1,020
Data processing 3,260 3,006 2,900
Directors’ fees 470 474 354
Amortization of other intangible assets 133 201 296
Insurance agency commissions expense 0 906 1,798
FDIC insurance premium expense 1,214 1,636 1,813
Write-downs of other real estate owned 127 658 1,318
Legal and professional fees 2,380 2,048 1,539
Other noninterest expenses 4,975 5,426 5,864
Total noninterest expense 37,350 39,361 40,686
INCOME (LOSS) BEFORE INCOME TAXES 11,516 8,112 (16,135)
Income tax expense (benefit) 4,408 3,061 (6,501)
NET INCOME (LOSS) $ 7,108 $ 5,051 $ (9,634)
Basic income (loss) per common share (in dollars per share) $ 0.56 $ 0.46 $ (1.14)
Diluted income (loss) per common share (in dollars per share) 0.56 0.46 (1.14)
Cash dividends paid per common share (in dollars per share) $ 0.04 $ 0 $ 0