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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Interest income:        
Loans (including fee income) $ 10,467 $ 9,555 $ 29,753 $ 26,074
Mortgage-backed securities, CMOs and other asset-backed securities 1,710 2,281 5,793 6,982
State and municipal obligations 747 697 2,361 2,124
U.S. GSE securities 579 712 2,164 1,526
Corporate Bonds 153 177 473 550
Deposits with banks 28 32 70 91
Other interest and dividend income 23 17 68 53
Total interest income 13,707 13,471 40,682 37,400
Interest expense:        
Savings, NOW and money market deposits 952 986 2,829 2,977
Certificates of deposit of $100,000 or more 360 354 1,113 841
Other time deposits 101 132 324 385
Federal funds purchased and repurchase agreements 97 136 323 405
Federal home loan bank advances 38   46  
Junior subordinated debentures 341 341 1,024 1,025
Total interest expense 1,889 1,949 5,659 5,633
Net interest income 11,818 11,522 35,023 31,767
Provision for loan losses 600 1,450 3,925 3,050
Net interest income after provision for loan losses 11,218 10,072 31,098 28,717
Non interest income:        
Service charges on deposit accounts 827 776 2,492 2,342
Fees for other customer services 854 761 2,179 1,816
Title fee income 344 200 1,037 667
Net securities gains 186   2,179 135
Other operating income 24 29 101 85
Total non interest income 2,235 1,766 7,988 5,045
Non interest expense:        
Salaries and employee benefits 5,211 4,815 15,584 13,389
Net occupancy expense 828 798 2,423 2,303
Furniture and fixture expense 293 304 855 918
FDIC assessments 190 134 542 635
Acquisition costs   109   728
Amortization of core deposit intangible 16 16 51 24
Cost of extinguishment of debt     158  
Other operating expenses 1,941 1,648 5,654 5,019
Total non interest expense 8,479 7,824 25,267 23,016
Income before income taxes 4,974 4,014 13,819 10,746
Income tax expense 1,614 1,241 4,457 3,337
Net income $ 3,360 $ 2,773 $ 9,362 $ 7,409
Basic earnings per share (in dollars per share) $ 0.39 $ 0.41 $ 1.09 $ 1.12
Diluted earnings per share (in dollars per share) $ 0.39 $ 0.41 $ 1.09 $ 1.12