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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Interest income:        
Loans (including fee income) $ 9,764 $ 8,564 $ 19,286 $ 16,519
Mortgage-backed securities, CMOs and other asset-backed securities 2,064 2,385 4,083 4,701
State and municipal obligations 831 706 1,614 1,427
U.S. GSE securities 813 433 1,585 814
Corporate Bonds 160 186 320 373
Deposits with banks 18 41 42 59
Other interest and dividend income 27 18 45 36
Total interest income 13,677 12,333 26,975 23,929
Interest expense:        
Savings, NOW and money market deposits 931 1,025 1,877 1,991
Certificates of deposit of $100,000 or more 367 245 753 488
Other time deposits 109 126 223 253
Federal funds purchased and repurchase agreements 115 135 226 269
Federal home loan bank advances 8   8  
Junior subordinated debentures 342 341 683 683
Total interest expense 1,872 1,872 3,770 3,684
Net interest income 11,805 10,461 23,205 20,245
Provision for loan losses 2,500 900 3,325 1,600
Net interest income after provision for loan losses 9,305 9,561 19,880 18,645
Non interest income:        
Service charges on deposit accounts 856 833 1,665 1,566
Fees for other customer services 720 575 1,325 1,055
Title fee income 470 263 693 467
Net securities gains 1,721 135 1,993 135
Other operating income 33 19 77 56
Total non interest income 3,800 1,825 5,753 3,279
Non interest expense:        
Salaries and employee benefits 5,262 4,399 10,373 8,574
Net occupancy expense 805 743 1,595 1,505
Furniture and fixture expense 264 308 562 614
FDIC assessments 180 193 352 501
Acquisition costs   386   619
Amortization of core deposit intangible 17 8 35 8
Cost of extinguishment of debt     158  
Other operating expenses 2,039 1,747 3,713 3,371
Total non interest expense 8,567 7,784 16,788 15,192
Income before income taxes 4,538 3,602 8,845 6,732
Income tax expense 1,475 1,126 2,843 2,096
Net income $ 3,063 $ 2,476 $ 6,002 $ 4,636
Basic earnings per share (in dollars per share) $ 0.36 $ 0.38 $ 0.71 $ 0.71
Diluted earnings per share (in dollars per share) $ 0.36 $ 0.38 $ 0.71 $ 0.71