XML 15 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Interest income        
Interest and fees on loans $ 10,148 $ 10,039 $ 29,963 $ 28,838
Interest and dividends on investment securities:        
Taxable 3,116 3,047 8,973 9,247
Tax-exempt 1,151 892 3,308 2,491
Dividends 126 137 378 426
Interest on federal funds sold and other short-term investment 0 3 2 7
Total interest income 14,541 14,118 42,624 41,009
Interest expense        
Interest on certificates of deposit $100 or more 206 203 665 637
Interest on other deposits 1,124 1,124 3,232 3,406
Interest on borrowings 1,489 1,608 4,407 4,892
Total interest expense 2,819 2,935 8,304 8,935
Net interest income 11,722 11,183 34,320 32,074
Provision for loan losses 0 225 0 225
Net interest income after provision for loan losses 11,722 10,958 34,320 31,849
Other income        
Service charges, commissions and fees 483 459 1,340 1,326
Annuities and insurance commissions 92 45 338 137
Bank-owned life insurance 265 239 1,104 736
Loan related fees 297 89 550 291
Net gains on sale of loans held for sale 26 84 255 313
Bargain gain on acquisition 0 899 0 899
Other 37 57 246 279
Other-than-temporary impairment losses on investment securities 0 (134) (24) (332)
Net gains on sale of investment securities 343 897 1,286 2,545
Net investment securities gains 343 763 1,262 2,213
Total other income 1,543 2,635 5,095 6,194
Other expense        
Salaries and employee benefits 3,247 3,193 10,072 9,366
Occupancy and equipment 839 739 2,556 2,045
FDIC insurance 283 292 804 861
Professional and consulting 352 277 801 817
Stationery and printing 62 69 225 249
Marketing and advertising 94 64 257 151
Computer expense 362 366 1,058 1,081
Other real estate owned, net 7 65 133 149
Repurchase agreement prepayment and termination fees 0 1,012 0 1,012
Acquisition cost 0 472 0 472
All other 959 958 2,913 2,801
Total other expense 6,205 7,507 18,819 19,004
Income before income tax expense 7,060 6,086 20,596 19,039
Income tax expense 1,966 1,632 5,655 6,001
Net Income 5,094 4,454 14,941 13,038
Preferred stock dividends 28 28 112 253
Net income available to common stockholders $ 5,066 $ 4,426 $ 14,829 $ 12,785
Earnings per common share        
Basic $ 0.31 $ 0.27 $ 0.91 $ 0.78
Diluted $ 0.31 $ 0.27 $ 0.91 $ 0.78
Weighted average common shares outstanding        
Basic 16,349,480 16,347,088 16,348,875 16,337,724
Diluted 16,385,155 16,362,635 16,380,970 16,346,739
Dividend paid per common share $ 0.075 $ 0.055 $ 0.185 $ 0.115