XML 13 R4.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Consolidated Statements of Income and Comprehensive 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 AND DIVIDEND INCOME        
Loans, including fees $ 8,354 $ 9,192 $ 16,820 $ 18,424
Taxable securities 2,048 2,261 3,917 4,502
Tax exempt securities 729 584 1,468 1,175
Dividends 53 47 99 100
Federal funds sold 10 15 19 24
TOTAL INTEREST AND DIVIDEND INCOME 11,194 12,099 22,323 24,225
INTEREST EXPENSE        
Deposits 1,684 2,420 3,382 5,165
Short-term borrowings 104 234 201 519
Long-term borrowings 249 269 500 551
TOTAL INTEREST EXPENSE 2,037 2,923 4,083 6,235
NET INTEREST INCOME 9,157 9,176 18,240 17,990
Provision for loan losses 1,075 1,600 2,950 4,378
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 8,082 7,576 15,290 13,612
NONINTEREST INCOME        
Service charges on deposit accounts 500 497 973 975
Bank owned life insurance income, including death benefits 119 131 278 257
Trust fees 1,365 1,197 2,703 2,429
Security gains (losses) 0 (3) 0 (3)
Insurance agency commissions 28 110 92 172
Investment commissions 263 129 454 240
Other operating income 419 660 811 987
TOTAL NONINTEREST INCOME 2,694 2,721 5,311 5,057
NONINTEREST EXPENSES        
Salaries and employee benefits 4,483 4,099 8,671 8,076
Occupancy and equipment 922 892 1,838 1,817
State and local taxes 238 224 485 456
Professional fees 267 381 503 690
Advertising 211 147 356 277
FDIC insurance 244 317 592 620
Intangible amortization 112 145 255 290
Core processing charges 245 237 490 476
Other operating expenses 1,370 1,203 2,716 2,475
TOTAL NONINTEREST EXPENSES 8,092 7,645 15,906 15,177
INCOME BEFORE INCOME TAXES 2,684 2,652 4,695 3,492
INCOME TAXES 567 618 888 611
NET INCOME 2,117 2,034 3,807 2,881
OTHER COMPREHENSIVE INCOME, NET OF TAX:        
Change in net unrealized gains on securities, net of reclassifications 3,769 2,988 3,812 4,055
COMPREHENSIVE INCOME $ 5,886 $ 5,022 $ 7,619 $ 6,936
NET INCOME PER SHARE - basic and diluted $ 0.11 $ 0.15 $ 0.21 $ 0.21
DIVIDENDS PER SHARE $ 0.03 $ 0.03 $ 0.06 $ 0.06