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Consolidated Statements of Income and Comprehensive Income (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Interest income        
Loans $ 16,959 $ 21,421 $ 34,615 $ 43,931
Loans held for sale 104 41 204 107
Available for sale securities 3,540 3,094 7,034 5,941
Federal Home Loan Bank stock dividends 280 294 580 594
Other interest earning assets 11 13 23 22
Total interest income 20,894 24,863 42,456 50,595
Interest expense        
Deposits 2,942 6,081 6,974 12,412
Federal Home Loan Bank advances 613 796 1,345 1,621
Repurchase agreements and other 919 928 1,838 1,850
Total interest expense 4,474 7,805 10,157 15,883
Net interest income 16,420 17,058 32,299 34,712
Provision for loan losses 6,264 8,244 6,944 10,436
Net interest income after provision for loan losses 10,156 8,814 25,355 24,276
Non-interest income        
Non-deposit investment income 506 308 1,047 662
Service fees and other charges 901 1,588 3,218 3,041
Net gains (losses):        
Securities available for sale 3,555 229 3,969 1,542
Other -than-temporary loss in equity securities        
Total impairment loss   (28)   (38)
Loss recognized in other comprehensive income          
Net impairment loss recognized in earnings   (28) 0 (38)
Mortgage banking income 1,727 3,128 3,198 3,750
Real estate owned and other repossessed assets (923) (1,362) (1,652) (2,354)
Other income 1,183 1,437 2,260 2,685
Total non-interest income 6,949 5,300 12,040 9,288
Non-interest expense        
Salaries and employee benefits 8,684 7,686 17,017 15,370
Occupancy 851 856 1,650 1,761
Equipment and data processing 1,720 1,624 3,409 3,318
Franchise tax 437 402 875 871
Advertising 211 141 352 262
Amortization of core deposit intangible 28 36 57 73
Prepayment penalty 738   738  
Deposit insurance premiums 1,055 1,057 2,164 2,462
Professional fees 1,039 293 1,919 1,255
Real estate owned and other repossessed asset expenses 419 891 1,121 1,764
Other expenses 1,861 2,924 4,235 5,262
Total non-interest expenses 17,043 15,910 33,537 32,398
Income (loss) before income taxes 62 (1,796) 3,858 1,166
Income tax expense (benefit)            
Net income (loss) 62 (1,796) 3,858 1,166
Other comprehensive income        
Unrealized gains on securities, net 5,425 7,474 2,542 5,701
Comprehensive income $ 5,487 $ 5,678 $ 6,400 $ 6,867
Earnings (loss) per share        
Basic   $ (0.06) $ 0.12 $ 0.04
Diluted   $ (0.06) $ 0.12 $ 0.04