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Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Interest Income:        
Interest and fees on loans $ 11,911 $ 12,147 $ 35,714 $ 37,214
Interest and dividends on taxable investment securities 4,658 5,871 15,104 18,237
Interest on tax-exempt investment securities 368 378 1,064 1,187
Other interest income 5 4 13 20
Total interest income 16,942 18,400 51,895 56,658
Interest Expense:        
Interest on deposits 2,171 3,332 7,007 10,991
Interest on short-term borrowings 19 24 57 85
Interest on long-term borrowings 936 1,285 2,984 3,912
Interest on junior subordinated notes held by subsidiary trust 495 495 1,482 1,480
Total interest expense 3,621 5,136 11,530 16,468
Net interest income 13,321 13,264 40,365 40,190
(Recovery of) provision for loan losses (956) 865 (4,213) 8,471
Net interest income after (recovery of) provision for loan losses 14,277 12,399 44,578 31,719
Other Income:        
Insurance income 2,367 2,324 7,756 7,321
Deposit account service charges 2,261 2,628 6,728 7,256
Trust and investment income 1,565 1,385 4,510 4,119
Electronic banking income 1,484 1,313 4,436 3,818
Mortgage banking income 638 370 1,869 1,030
Net gain on investment securities 112 57 3,275 473
Net loss on assets (161) 389 (3,266) (107)
Other non-interest income 257 371 853 1,112
Total other income 8,523 8,837 26,161 25,022
Other Expenses:        
Salaries and employee benefit costs 8,051 8,701 24,711 24,281
Net occupancy and equipment 1,423 1,453 4,358 4,426
Professional fees 1,172 807 3,189 2,615
Electronic banking expense 887 713 2,451 2,016
Marketing expense 534 452 1,490 1,105
Data processing and software 470 490 1,442 1,406
Franchise tax 415 369 1,241 1,128
Communication expense 294 307 930 915
Foreclosed real estate and other loan expenses 263 251 739 825
FDIC insurance 257 440 789 1,552
Amortization of other intangible assets 134 141 350 455
Other non-interest expense 1,766 1,306 4,678 4,043
Total other expenses 15,666 15,430 46,368 44,767
Income before income taxes 7,134 5,806 24,371 11,974
Income tax expense 2,310 1,885 7,860 3,263
Net income 4,824 3,921 16,511 8,711
Preferred dividends 0 237 0 998
Net income available to common shareholders 4,824 3,684 16,511 7,713
Earnings per common share - basic $ 0.45 $ 0.35 $ 1.56 $ 0.74
Earnings per common share - diluted $ 0.45 $ 0.35 $ 1.56 $ 0.73
Weighted-average number of common shares outstanding - basic 10,530,800 10,484,609 10,522,874 10,478,310
Weighted-average number of common shares outstanding - diluted 10,530,876 10,519,673 10,522,905 10,498,708
Cash dividends declared on common shares $ 1,175 $ 1,060 $ 3,522 $ 2,118
Cash dividends declared per common share $ 0.11 $ 0.10 $ 0.33 $ 0.20