XML 36 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Interest income    
Loans, including fees $ 6,066 $ 6,197
Investment securities    
Fully taxable 369 629
Exempt from federal taxes 418 435
Interest-bearing deposits and other 4 2
TOTAL INTEREST INCOME 6,857 7,263
Interest expense    
Deposits 731 1,066
Borrowings 248 405
TOTAL INTEREST EXPENSE 979 1,471
NET INTEREST INCOME 5,878 5,792
Provision for loan losses 439 500
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 5,439 5,292
Noninterest income    
Service fees, charges and other operating income 527 484
Bank owned life insurance 143 152
Gain on sale of loans 305 324
Gain on disposition of premises and equipment 420 277
TOTAL NONINTEREST INCOME 1,395 1,237
Noninterest expense    
Compensation and benefits 2,817 2,874
Occupancy and equipment 697 710
Federal deposit insurance premiums 110 151
Merger-related costs 320 0
Professional fees 288 351
Marketing and advertising 39 85
Foreclosed real estate expense 224 287
Other operating 535 598
TOTAL NONINTEREST EXPENSE 5,030 5,056
INCOME BEFORE INCOME TAXES 1,804 1,473
Income tax expense 581 318
NET INCOME $ 1,223 $ 1,155
Earnings per share-basic (in dollars per share) $ 0.45 $ 0.42
Earnings per share-diluted (in dollars per share) $ 0.45 $ 0.42
Dividends paid per share $ 0.05 $ 0.05
Weighted average shares outstanding:    
Basic (in shares) 2,738,375 2,718,839
Diluted (in shares) 2,741,889 2,722,405