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Condensed Consolidated Statements of Income (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 income:        
Interest and fees on loans $ 11,280 $ 9,822 $ 22,743 $ 19,736
Interest on investment securities 2,728 2,181 5,172 4,416
Interest on certificates of deposit investments 19 31 40 62
Interest on federal funds sold 16 21 40 37
Interest on deposits with other financial institutions 79 16 156 30
Total interest income 14,122 12,071 28,151 24,281
Interest expense:        
Interest on deposits 1,778 2,085 3,597 4,271
Interest on securities sold under agreements to repurchase 42 31 75 61
Interest on FHLB borrowings 183 282 394 625
Interest on other borrowings 0 1 0 1
Interest on subordinated debentures 240 262 501 522
Total interest expense 2,243 2,661 4,567 5,480
Net interest income 11,879 9,410 23,584 18,801
Provision for loan losses 916 1,083 1,856 1,843
Net interest income after provision for loan losses 10,963 8,327 21,728 16,958
Other income:        
Trust revenues 739 595 1,520 1,219
Brokerage commissions 152 136 307 265
Insurance commissions 510 444 1,118 1,088
Service charges 1,201 1,181 2,297 2,257
Securities gains, net 196 5 377 246
Total other-than-temporary impairment losses (61) (355) (246) (978)
Portion of loss recognized in other comprehensive loss 0 0 0 0
Other-than-temporary impairment losses recognized in earnings (61) (355) (246) (978)
Mortgage banking revenue, net 123 105 239 201
ATM / debit card revenue 889 686 1,721 1,310
Other 310 246 731 503
Total other income 4,059 3,043 8,064 6,111
Other expense:        
Salaries and employee benefits 5,625 4,287 11,059 8,655
Net occupancy and equipment expense 1,983 1,285 3,950 2,563
Net other real estate owned expense 477 299 597 147
FDIC insurance 286 344 720 662
Amortization of intangible assets 286 176 572 352
Stationery and supplies 151 134 289 249
Legal and professional 513 702 1,080 1,131
Marketing and donations 258 207 459 410
Other 1,432 1,274 2,577 2,329
Total other expense 11,011 8,708 21,303 16,498
Income before income taxes 4,011 2,662 8,489 6,571
Income taxes 1,433 880 3,066 2,241
Net income 2,578 1,782 5,423 4,330
Dividends on preferred shares 1,011 554 1,718 1,131
Net income available to common stockholders $ 1,567 $ 1,228 $ 3,705 $ 3,199
Per share data:        
Basic net income per common share available to common stockholders $ 0.26 $ 0.20 $ 0.61 $ 0.52
Diluted net income per common share available to common stockholders $ 0.26 $ 0.20 $ 0.61 $ 0.52
Cash dividends declared per common share $ 0.19 $ 0.19 $ 0.19 $ 0.19