XML 9 R4.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Condensed Consolidated Statements of Income (unaudited) (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 $ 8,186 $ 9,841 $ 17,045 $ 20,427
Interest and dividends on investment securities:        
Taxable 1,591 1,156 3,107 2,647
Tax-exempt 763 1,336 1,661 2,688
Interest on interest-bearing deposits in other banks 34 40 56 72
Total interest income 10,574 12,373 21,869 25,834
Interest Expense:        
Interest on deposits 1,634 2,657 3,372 6,030
Interest on borrowings 184 531 384 1,136
Total interest expense 1,818 3,188 3,756 7,166
Net interest income 8,756 9,185 18,113 18,668
Provision for loan losses 8,050 2,650 9,925 6,575
Net interest income after provision for loan losses 706 6,535 8,188 12,093
Non-interest income:        
Fiduciary and farm management fees 269 317 559 581
Service charges on deposit accounts 1,002 958 1,945 1,849
Other service charges 421 507 826 967
Gains on sales of securities available-for-sale 1,598 80 2,682 722
Brokerage fee income 207 224 346 413
Mortgage servicing rights impairment 0 (589) 0 (589)
Mortgage banking income, net 288 268 740 763
Bank-owned life insurance income 225 228 446 457
Other operating income 17 36 83 58
Total non-interest income 4,027 2,029 7,627 5,221
Non-interest expense:        
Salaries and employee benefits 4,529 4,452 9,145 8,864
Occupancy 623 633 1,312 1,333
Equipment expense 781 747 1,562 1,514
Federal insurance assessments 447 534 1,087 1,232
Intangible assets amortization 175 201 369 402
Data processing 349 320 715 632
Marketing 139 206 294 382
Other real estate expenses, net 1,433 387 2,015 1,122
Loan collection expenses 371 184 534 388
Other operating expense 1,386 1,152 2,635 2,233
Total non-interest expense 10,233 8,816 19,668 18,102
Income (loss) before income taxes (5,500) (252) (3,853) (788)
Income tax benefit (2,575) (672) (2,663) (1,467)
Net income (loss) (2,925) 420 (1,190) 679
Dividends on preferred shares 0 314 0 627
Accretion of preferred stock discount 7 7 15 14
Net income (loss) available to common stockholders $ (2,932) $ 99 $ (1,205) $ 38
Earnings (loss) per share available to common stockholders:        
Basic net income (loss) per common share available to common stockholders (in Dollars per share) $ (0.88) $ 0.03 $ (0.36) $ 0.01
Diluted net income (loss) per common share available to common stockholders (in Dollars per share) $ (0.88) $ 0.03 $ (0.36) $ 0.01
Basic weighted average shares outstanding (in Shares) 3,328,035 3,309,746 3,327,005 3,308,262
Diluted weighted average shares outstanding (in Shares) 3,328,035 3,309,746 3,327,005 3,308,262