XML 48 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:        
Debt securities, taxable $ 4,050 $ 4,653 $ 7,894 $ 9,463
Residential and commercial real estate loans 5,084 4,845 10,122 9,519
Commercial and industrial loans 1,253 1,420 2,555 2,863
Debt securities, tax-exempt 415 419 839 838
Consumer loans 40 47 80 96
Equity securities 42 47 86 94
Other investments - at cost 25 18 47 32
Federal funds sold, interest-bearing deposits and other short-term investments 1   1 1
Total interest and dividend income 10,910 11,449 21,624 22,906
INTEREST EXPENSE:        
Deposits 1,523 1,975 3,159 4,081
Long-term debt 1,623 1,710 3,254 3,355
Short-term borrowings 37 35 67 94
Total interest expense 3,183 3,720 6,480 7,530
Net interest and dividend income 7,727 7,729 15,144 15,376
Provision for loan losses 260 175 480 514
Net interest and dividend income after provision for loan losses 7,467 7,554 14,664 14,862
NONINTEREST INCOME (LOSS):        
Total other-than-temporary impairment losses on debt securities   (433)   (465)
Portion of other-than-temporary impairment losses recognized in accumulated other comprehensive loss on debt securities   425   425
Net other-than-temporary impairment losses recognized in income   (8)   (40)
Service charges and fees 521 521 1,032 962
Income from bank-owned life insurance 283 388 741 753
Gain on sales of securities, net 97 46 1,681 77
Total noninterest income 901 947 3,454 1,752
NONINTEREST EXPENSE:        
Salaries and employees benefits 4,127 3,759 8,404 7,713
Occupancy 703 657 1,408 1,335
Computer operations 523 478 1,050 965
Professional fees 532 563 969 1,001
OREO expense 21 13 38 20
FDIC insurance assessment 155 140 298 348
Other 772 823 1,510 1,591
Total noninterest expense 6,833 6,433 13,677 12,973
INCOME BEFORE INCOME TAXES 1,535 2,068 4,441 3,641
INCOME TAX PROVISION 561 503 1,128 790
NET INCOME $ 974 $ 1,565 $ 3,313 $ 2,851
EARNINGS PER COMMON SHARE:        
Basic earnings per share $ 0.04 $ 0.06 $ 0.13 $ 0.11
Weighted average shares outstanding 25,141,989 26,639,247 25,295,875 26,692,379
Diluted earnings per share $ 0.04 $ 0.06 $ 0.13 $ 0.11
Weighted average diluted shares outstanding 25,158,171 26,755,667 25,330,242 26,815,160