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Consolidated Statements of Income (Unaudited) (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 fees $ 2,843 $ 3,538 $ 5,860 $ 7,130
Interest and dividends on securities:        
Taxable 339 219 618 444
Tax-exempt 39 92 84 204
Interest on federal funds sold 13 7 22 10
Total interest income 3,234 3,856 6,584 7,788
Interest expense        
Deposits 654 1,057 1,376 2,191
Borrowings 126 127 252 253
Total interest expense 780 1,184 1,628 2,444
Net interest income 2,454 2,672 4,956 5,344
Provision for loan losses 730 2,449 1,525 3,584
Net interest income after provision for loan losses 1,724 223 3,431 1,760
Non-interest income        
Service charges on deposit accounts 290 359 586 784
Trust and investment services income 230 194 518 463
Gain on sale of mortgage loans 31 123 99 204
Gain on sale of securities 0 71 5 71
Other income and fees 403 589 900 929
Total non-interest income 954 1,336 2,108 2,451
Non-interest expense        
Salaries and employee benefits 1,623 1,595 3,296 3,214
Occupancy 276 311 560 632
Furniture and equipment 278 322 570 628
Loan and collection 85 272 195 645
Advertising and promotional 44 41 63 67
Other operating expenses 664 836 1,507 1,469
Total non-interest expense 2,970 3,377 6,191 6,655
Loss from continuing operations before income tax (292) (1,818) (652) (2,444)
Federal income tax (benefit) expenses (156) 421 (368) 107
Net loss from continuing operations (136) (2,239) (284) (2,551)
Discontinued operations, net of tax        
Net loss from discontinued operations (109) (541) (120) (712)
Gain from sale of discontinued operations 0 0 469 0
Net (loss) income from discontinued operations (109) (541) 349 (712)
Net (loss) income $ (245) $ (2,780) $ 65 $ (3,263)
Net loss per share from continuing operations        
Basic and diluted $ (0.06) $ (0.99) $ (0.12) $ (1.13)
Net (loss) income per share from discontinued operations        
Basic and diluted $ (0.05) $ (0.23) $ 0.15 $ (0.31)
Net (loss) income per share        
Basic and diluted $ (0.11) $ (1.22) $ 0.03 $ (1.44)
Cash Dividends declared $ 0.00 $ 0.00 $ 0.00 $ 0.00