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Consolidated Statements of Operations (USD $)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Interest income      
Loans, including fees $ 62,356,000 $ 77,791,000 $ 93,903,000
Securities, taxable 6,685,000 7,846,000 7,498,000
Securities, tax-exempt 1,805,000 2,291,000 3,351,000
Federal funds sold 199,000 176,000 136,000
Interest-bearing deposit balances 24,000 39,000 21,000
Total interest income 71,069,000 88,143,000 104,909,000
Interest expense      
Deposits 16,384,000 23,529,000 41,269,000
Short-term borrowings 405,000 1,410,000 1,845,000
Federal Home Loan Bank advances 2,033,000 5,509,000 8,808,000
Other borrowings 1,010,000 1,346,000 1,654,000
Total interest expense 19,832,000 31,794,000 53,576,000
Net interest income 51,237,000 56,349,000 51,333,000
Provision for loan losses 6,900,000 31,800,000 59,000,000
Net interest income (deficiency) after provision for loan losses 44,337,000 24,549,000 (7,667,000)
Noninterest income      
Service charges on accounts 1,640,000 1,797,000 2,023,000
Earnings on bank owned life insurance 1,777,000 1,718,000 1,444,000
Mortgage banking activities 846,000 1,092,000 1,202,000
Rental income from other real estate owned 825,000 1,488,000 438,000
Credit and debit card fees 825,000 727,000 670,000
Payroll processing 515,000 494,000 504,000
Letter of credit fees 300,000 460,000 541,000
Net gain on sale of securities 0 476,000 0
Gain on sale of commercial loans 0 324,000 0
Other income 554,000 668,000 736,000
Total noninterest income 7,282,000 9,244,000 7,558,000
Noninterest expense      
Salaries and benefits 17,891,000 18,297,000 20,331,000
Occupancy 2,780,000 2,838,000 3,377,000
Furniture and equipment rent, depreciation and maintenance 1,206,000 1,481,000 1,871,000
Nonperforming asset costs 8,290,000 10,858,000 7,294,000
FDIC insurance costs 2,843,000 4,370,000 4,852,000
Data processing 2,719,000 2,598,000 2,526,000
Advertising 747,000 906,000 650,000
FHLB advance prepayment fees 213,000 1,021,000 0
Branch consolidation costs 0 0 1,308,000
Other expense 4,806,000 4,787,000 4,279,000
Total noninterest expenses 41,495,000 47,156,000 46,488,000
Income (loss) before federal income tax expense (benefit) 10,124,000 (13,363,000) (46,597,000)
Federal income tax expense (benefit) (27,361,000) (47,000) 5,490,000
Net income (loss) 37,485,000 (13,316,000) (52,087,000)
Preferred stock dividends and accretion 1,343,000 1,295,000 802,000
Net income (loss) attributable to common shares $ 36,142,000 $ (14,611,000) $ (52,889,000)
Earnings (loss) per share:      
Basic $ 4.20 $ (1.72) $ (6.23)
Diluted $ 4.07 $ (1.72) $ (6.23)