XML 14 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Unaudited Condensed Consolidated Statements of Income (USD $)
In Thousands, except Per 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 $ 13,313 $ 13,883 $ 40,335 $ 42,268
Interest on investment securities:        
Taxable 2,578 3,084 7,599 10,044
Nontaxable 629 573 1,885 1,661
Interest on deposits in other banks 42 37 114 99
Interest on federal funds sold and securities purchased under agreements to resell 1 1 3 3
Total interest income 16,563 17,578 49,936 54,075
Interest Expense        
Interest on deposits 1,423 2,141 4,610 7,320
Interest on federal funds purchased and other short-term borrowings 21 24 60 74
Interest on securities sold under agreements to repurchase and other long-term borrowings 1,292 1,828 3,837 5,481
Interest on subordinated notes payable to unconsolidated trusts 217 518 650 1,559
Total interest expense 2,953 4,511 9,157 14,434
Net interest income 13,610 13,067 40,779 39,641
Provision for loan losses (586) (256) (1,580) 2,062
Net interest income after provision for loan losses 14,196 13,323 42,359 37,579
Noninterest Income        
Service charges and fees on deposits 2,116 2,062 6,094 6,080
Allotment processing fees 1,217 1,304 3,724 3,932
Other service charges, commissions, and fees 1,282 1,104 3,738 3,332
Trust income 497 469 1,451 1,404
Investment securities gains (losses), net 2 276 (58) 964
Gains on sale of mortgage loans, net 236 603 867 1,364
Income from company-owned life insurance 244 301 716 1,289
Other 84 47 (2) 241
Total noninterest income 5,678 6,166 16,530 18,606
Noninterest Expense        
Salaries and employee benefits 7,229 7,019 21,784 20,999
Occupancy expenses, net 1,247 1,235 3,578 3,606
Equipment expenses 619 576 1,760 1,757
Data processing and communication expenses 929 1,059 2,972 3,211
Bank franchise tax 603 605 1,803 1,793
Amortization of intangibles 135 254 405 761
Deposit insurance expense 559 667 1,698 2,039
Other real estate expenses, net 2,404 1,531 4,781 3,197
Legal expenses 209 251 575 989
Other 2,050 2,150 5,859 5,989
Total noninterest expense 15,984 15,347 45,215 44,341
Income before income taxes 3,890 4,142 13,674 11,844
Income tax expense 855 1,051 3,300 2,297
Net income 3,035 3,091 10,374 9,547
Less preferred stock dividends and discount accretion 489 481 1,461 1,439
Net income available to common shareholders $ 2,546 $ 2,610 $ 8,913 $ 8,108
Per Common Share        
Net income - basic and diluted (in Dollars per share) $ 0.34 $ 0.35 $ 1.19 $ 1.09
Weighted Average Common Shares Outstanding        
Basic and diluted (in Shares) 7,475 7,461 7,473 7,454