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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Interest Income      
Loans receivable $ 50,340 $ 54,738 $ 57,836
Investment securities      
Taxable 10,201 9,605 10,885
Tax exempt 4,073 4,148 3,942
Total interest income 64,614 68,491 72,663
Interest Expense      
Deposits 8,346 10,711 14,792
Borrowed funds 6,334 8,476 11,696
Subordinated debentures 1,821 1,688 1,406
Total interest expense 16,501 20,875 27,894
Net Interest Income 48,113 47,616 44,769
Provision for loan losses 5,282 11,554 13,603
Net Interest Income after Provision for Loan Losses 42,831 36,062 31,166
Other Income      
Service charges on deposit accounts 3,164 3,607 3,858
Wire transfer fees 619 756 921
Interchange fees 2,594 2,247 1,864
Fiduciary activities 3,983 3,979 3,336
Gain on sale of securities 1,777 533 795
Gain on sale of mortgage loans 6,449 7,538 6,107
Mortgage servicing income net of impairment 267 (565) (134)
Increase in cash surrender value of bank owned life insurance 891 803 720
Death benefit on officer life insurance 453    
Other income 102 1,008 389
Total other income 20,299 19,906 17,856
Other Expenses      
Salaries and employee benefits 22,875 22,090 19,204
Net occupancy expenses 4,267 4,195 3,796
Data processing 2,006 1,925 1,582
Professional fees 1,497 1,701 1,413
Outside services and consultants 1,741 1,694 1,471
Loan expense 3,586 3,208 2,611
FDIC insurance expense 1,220 1,635 2,126
Other losses 2,383 504 510
Other expenses 6,572 5,619 5,099
Total other expenses 46,147 42,571 37,812
Income Before Income Tax 16,983 13,397 11,210
Income tax expense 4,186 2,942 2,070
Net Income 12,797 10,455 9,140
Preferred stock dividend and discount accretion (1,325) (1,406) (1,402)
Net Income Available to Common Shareholders $ 11,472 $ 9,049 $ 7,738
Basic Earnings Per Share $ 2.32 $ 1.84 $ 1.60
Diluted Earnings Per Share $ 2.27 $ 1.81 $ 1.58