Quarterly Results

12 Months Ended

Dec. 31, 2011

Quarterly Results [Abstract]

Quarterly Results

Note 25 – Quarterly Results (Unaudited)

Quarterly Financial Results
(in thousands, except per share amounts)
	Fourth		Third		Second		First
2011	Quarter		Quarter		Quarter		Quarter
Interest income	$	17,177	$	14,779	$	8,570	$	8,661
Interest expense		2,317		2,436		1,971		2,056
Net interest income		14,860		12,343		6,599		6,605
Provision for loan losses		1,972		525		336		337
Net interest income after provision for loan losses		12,888		11,818		6,263		6,268
Noninterest income		2,587		2,698		1,988		1,971
Noninterest expense		8,629		8,564		7,028		5,779
Income before income taxes		6,846		5,952		1,223		2,460
Income taxes		2,194		1,823		211		682
Net income		4,652		4,129		1,012		1,778
Dividends on preferred stock		52		51		-		-
Net income available to common shareholders	$	4,600	$	4,078	$	1,012	$	1,778
Per common share:
Net income - basic	$	0.59	$	0.52	$	0.16	$	0.29
Net income - diluted		0.59		0.52		0.16		0.29
Cash dividends		0.23		0.23		0.23		0.23

	Fourth		Third		Second		First
2010	Quarter		Quarter		Quarter		Quarter
Interest income	$	8,889	$	8,982	$	9,011	$	9,051
Interest expense		2,196		2,223		2,153		2,147
Net interest income		6,693		6,759		6,858		6,904
Provision for loan losses		485		435		285		285
Net interest income after provision for loan losses		6,208		6,324		6,573		6,619
Noninterest income		2,906		2,241		2,043		1,924
Noninterest expense		6,474		5,531		5,874		5,500
Income before income taxes		2,640		3,034		2,742		3,043
Income taxes		789		806		728		858
Net income	$	1,851	$	2,228	$	2,014	$	2,185
Per common share:
Net income - basic	$	0.30	$	0.36	$	0.33	$	0.36
Net income - diluted		0.30		0.36		0.33		0.36
Cash dividends		0.23		0.23		0.23		0.23