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Consolidated Statements of Income Statement (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 $ 12,389 $ 14,604 $ 25,067 $ 29,431
Interest and dividends on taxable investment securities 6,163 7,720 12,366 15,704
Interest on tax-exempt investment securities 384 618 809 1,260
Other interest income 5 21 16 25
Total interest income 18,941 22,963 38,258 46,420
Interest Expense:        
Interest on deposits 3,674 4,953 7,659 10,097
Interest on short-term borrowings 26 66 61 147
Interest on long-term borrowings 1,317 2,279 2,627 4,572
Interest on junior subordinated notes held by subsidiary trust 493 492 985 990
Total interest expense 5,510 7,790 11,332 15,806
Net interest income 13,431 15,173 26,926 30,614
Provision for loan losses (2,295) (5,458) 7,606 11,959
Net interest income after provision for loan losses 11,136 9,715 19,320 18,655
Gross impairment losses on investment securities 0 (800) 0 (1,620)
Less: Non-credit losses included in other comprehensive income 0 0 0 166
Net impairment losses on investment securities 0 (800) 0 (1,786)
Other Income:        
Deposit account service charges 2,454 2,457 4,628 4,755
Insurance income 2,165 2,261 4,997 4,672
Trust and investment income 1,409 1,209 2,734 2,765
Electronic banking income 1,284 1,175 2,505 2,263
Mortgage banking income 286 267 660 502
Bank owned life insurance 92 173 179 358
Net gain on investment securities 56 3,018 416 3,034
Net loss on assets (556) (1,348) (496) (1,331)
Other non-interest income 201 230 562 471
Total other income 7,391 9,442 16,185 17,489
Other Expenses:        
Salaries and employee benefit costs 7,953 7,496 15,580 14,873
FDIC insurance 450 612 1,112 1,229
Net occupancy and equipment 1,472 1,440 2,973 2,958
Professional fees 1,013 601 1,808 1,293
Electronic banking expense 685 557 1,303 1,162
Data processing and software 453 527 916 1,097
Foreclosed real estate and other loan expenses 224 472 574 1,118
Franchise tax 358 374 759 747
Amortization of other intangible assets 152 235 314 480
Other non-interest expense 1,959 1,995 3,998 3,927
Total other expenses 14,719 14,309 29,337 28,884
Income (loss) before income taxes 3,808 4,048 6,168 5,474
Income taxes (benefit) expense (887) (763) 1,378 874
Net income 2,921 3,285 4,790 4,600
Preferred dividends (238) 512 (761) (1,025)
Net (loss) income available to common shareholders 2,683 2,773 4,029 3,575
Earnings per common share - basic $ 0.26 $ 0.27 $ 0.38 $ 0.34
Earnings per common share - diluted $ 0.26 $ 0.27 $ 0.38 $ 0.34
Weighted-average number of common shares outstanding - basic 10,478,362 10,422,126 10,475,109 10,406,919
Weighted-average number of common shares outstanding - diluted 10,507,895 10,429,369 10,492,712 10,415,999
Cash dividends declared on common shares $ 0 $ 1,054 $ 1,058 $ 2,105
Cash dividends declared per common share $ 0.00 $ 0.1 $ 0.1 $ 0.2