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Consolidated Statements of Earnings (Unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Interest and dividend income        
Loans $ 8,839 $ 9,281 $ 17,740 $ 18,561
Investment securities 84 495 439 1,073
Other interest-earning accounts 157 333 503 673
Total interest and dividend income 9,080 10,109 18,682 20,307
Interest Expense        
Deposits 1,918 2,744 4,107 5,689
Borrowings 726 992 1,529 1,989
Total interest expense 2,644 3,736 5,636 7,678
Net interest income 6,436 6,373 13,046 12,629
Provision for losses on loans 197 5,212 1,210 6,117
Net interest income after provision for losses on loans 6,239 1,161 11,836 6,512
Other income        
Late charges, rent and other 203 328 565 737
Loan servicing fees 298 320 605 637
Service charges and other fees on deposits 529 598 1,032 1,116
Gain (loss) on sale of loans (92) 261   490
Mortgage servicing rights - net (132) (124) 139 (94)
Gain (loss) on sale of investments & fixed assets 2 (1) 1,280 (1)
Income on cash surrender value of life insurance 220 220 437 435
Total other income 1,028 1,602 4,058 3,320
General, administrative and other expenses        
Employee compensation and benefits 3,153 3,269 6,531 6,654
Occupancy and equipment 691 743 1,452 1,485
Federal deposit insurance premiums and other insurance 494 591 1,097 1,094
Data processing 277 286 561 566
Advertising 96 89 182 170
Franchise taxes 178 269 348 534
Postage, supplies and office expenses 253 274 471 567
Travel and training 56 65 121 118
Professional services 320 462 702 784
Deposit and transaction processing expenses 200 185 367 378
Real estate owned and other expenses 825 409 1,655 831
Loan expenses 598 333 1,081 736
Total general, administrative and other expense 7,141 6,975 14,568 13,917
Earnings (loss) before federal income taxes 126 (4,212) 1,326 (4,085)
Federal income taxes (benefit) (11) (113) 537 (115)
NET EARNINGS (LOSS) $ 137 $ (4,099) $ 789 $ (3,970)
EARNINGS (LOSS) PER SHARE        
Basic $ 0.02 $ (0.57) $ 0.11 $ (0.55)
Diluted $ 0.02 $ (0.57) $ 0.11 $ (0.55)