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Consolidated Statements of Income (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 income:        
Loans (including fee income) $ 8,564 $ 7,306 $ 16,519 $ 14,588
Mortgage-backed securities and collateralized mortgage obligations 2,385 2,378 4,701 4,907
State and municipal obligations 706 692 1,427 1,262
U.S. GSE securities 433 558 814 945
Corporate Bonds 186   373  
Federal funds sold       5
Deposits with banks 41 11 59 19
Other interest and dividend income 18 12 36 29
Total interest income 12,333 10,957 23,929 21,755
Interest expense:        
Savings, NOW and money market deposits 1,025 906 1,991 1,780
Certificates of deposit of $100,000 or more 245 325 488 664
Other time deposits 126 290 253 595
Federal funds purchased and repurchase agreements 135 141 269 249
Junior Subordinated Debentures 341 341 683 682
Total interest expense 1,872 2,003 3,684 3,970
Net interest income 10,461 8,954 20,245 17,785
Provision for loan losses 900 700 1,600 2,000
Net interest income after provision for loan losses 9,561 8,254 18,645 15,785
Non interest income:        
Service charges on deposit accounts 833 782 1,566 1,404
Fees for other customer services 575 503 1,055 879
Title fee income 263 318 467 573
Net securities gains 135 412 135 1,303
Other operating income 19 14 56 72
Total non interest income 1,825 2,029 3,279 4,231
Non interest expense:        
Salaries and employee benefits 4,399 3,978 8,574 7,815
Net occupancy expense 743 737 1,505 1,430
Furniture and fixture expense 308 298 614 581
FDIC assessments 193 279 501 574
Acquisition costs 386   619  
Amortization of core deposit intangible 8   8  
Other operating expenses 1,747 1,707 3,371 3,200
Total non interest expense 7,784 6,999 15,192 13,600
Income before income taxes 3,602 3,284 6,732 6,416
Income tax expense 1,126 1,035 2,096 2,037
Net income 2,476 2,249 4,636 4,379
Basic earnings per share (in dollars per share) $ 0.38 $ 0.36 $ 0.71 $ 0.70
Diluted earnings per share (in dollars per share) $ 0.38 $ 0.36 $ 0.71 $ 0.70
Comprehensive Income $ 4,061 $ 3,071 $ 5,705 $ 4,946