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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
INTEREST INCOME:        
Interest and fees on loans $ 6,477 $ 6,799 $ 12,995 $ 13,631
Interest on investment securities -        
Taxable 914 882 1,790 1,812
Non-taxable 640 783 1,347 1,591
Other short-term investments 68 68 97 100
TOTAL INTEREST INCOME 8,099 8,532 16,229 17,134
INTEREST EXPENSE:        
Interest on deposits 1,499 1,928 3,083 3,904
Interest on short-term borrowings 7 4 17 13
Interest on long-term debt 161 173 339 350
TOTAL INTEREST EXPENSE 1,667 2,105 3,439 4,267
NET INTEREST INCOME 6,432 6,427 12,790 12,867
PROVISION FOR LOAN LOSSES 224 511 888 719
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 6,208 5,916 11,902 12,148
NON-INTEREST INCOME:        
Trust income 536 441 1,019 910
Service charges and fees on deposit accounts 952 1,005 1,853 1,931
Net gain on sales of securities 124 51 419 128
Bank owned life insurance income 148 944 294 1,097
Gains from sales of mortgage loans 24 18 57 48
Other operating income 72 55 145 153
TOTAL NON-INTEREST INCOME 1,856 2,514 3,787 4,267
NON-INTEREST EXPENSE:        
Salaries and employee benefits 2,955 2,771 6,007 5,539
Equipment expenses 240 220 457 424
Occupancy expense, net 407 441 862 965
State franchise tax 196 174 392 355
Marketing 110 126 225 202
Intangible amortization 14 14 28 28
FDIC insurance premiums 188 229 468 447
Other non-interest expense 1,218 1,243 2,690 2,465
TOTAL NON-INTEREST EXPENSE 5,328 5,218 11,129 10,425
INCOME BEFORE INCOME TAXES 2,736 3,212 4,560 5,990
PROVISION FOR INCOME TAXES 713 527 1,059 1,164
INCOME FROM CONTINUING OPERATIONS 2,023 2,685 3,501 4,826
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAX (31) 67 793 138
NET INCOME $ 1,992 $ 2,752 $ 4,294 $ 4,964
Dividends declared per common share (in dollars per share) $ 0.16 $ 0.16 $ 0.32 $ 0.32
Basic and diluted earnings per common share:        
Continuing operations (in dollars per share) $ 0.30 $ 0.40 $ 0.52 $ 0.72
Discontinued operations (in dollars per share) $ 0 $ 0.01 $ 0.12 $ 0.02
Weighted average common shares outstanding:        
Basic (in shares) 6,689,743 6,687,232 6,689,743 6,687,232
Diluted (in shares) 6,746,791 6,742,663 6,744,375 6,736,435