|
Consolidated Statement Of Income (Loss) And Comprehensive Income (Loss) (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 |
$ 6,952 |
$ 8,836 |
$ 13,989 |
$ 18,117 |
| Securities |
|
|
|
|
| Taxable |
854 |
1,088 |
1,684 |
2,085 |
| Exempt from federal income taxes |
113 |
177 |
239 |
392 |
| Federal funds sold and other |
37 |
37 |
76 |
68 |
| Total interest income |
7,956 |
10,138 |
15,988 |
20,662 |
| Interest expense |
|
|
|
|
| Deposits |
1,143 |
2,213 |
2,542 |
4,700 |
| Federal funds purchased and securities sold under agreements to repurchase |
10 |
10 |
21 |
21 |
| Federal Home Loan Bank advances |
190 |
355 |
376 |
767 |
| Series B mandatory redeemable preferred stock |
4 |
4 |
8 |
8 |
| Subordinated debentures |
295 |
274 |
588 |
544 |
| Notes payable |
92 |
91 |
188 |
181 |
| Total interest expense |
1,734 |
2,947 |
3,723 |
6,221 |
| Net interest income |
6,222 |
7,191 |
12,265 |
14,441 |
| Provision for loan losses |
1,375 |
3,250 |
2,725 |
7,500 |
| Net interest income after provision for loan losses |
4,847 |
3,941 |
9,540 |
6,941 |
| Noninterest income |
|
|
|
|
| Service charges |
1,040 |
1,189 |
2,089 |
2,251 |
| Mortgage banking income |
455 |
302 |
942 |
709 |
| Electronic banking services |
558 |
565 |
1,090 |
1,092 |
| Bank-owned life insurance |
245 |
250 |
488 |
499 |
| Securities gains |
698 |
379 |
714 |
379 |
| Total other-than-temporary impairment losses |
|
(107) |
|
(499) |
| Portion of loss recognized in other comprehensive income (before taxes) |
|
|
|
|
| Net impairment on securities |
|
(107) |
|
(499) |
| Gain on sale of OREO |
234 |
(92) |
425 |
(48) |
| Gain on sale of other assets |
|
|
|
63 |
| Other income |
582 |
198 |
1,116 |
362 |
| Noninterest Income, Total |
3,812 |
2,684 |
6,864 |
4,808 |
| Noninterest expense |
|
|
|
|
| Salaries and employee benefits |
3,582 |
3,460 |
7,284 |
7,093 |
| Occupancy, net |
620 |
704 |
1,284 |
1,424 |
| Furniture and equipment |
283 |
421 |
667 |
860 |
| Marketing |
94 |
67 |
169 |
127 |
| Supplies and printing |
65 |
77 |
133 |
141 |
| Telephone |
179 |
204 |
354 |
408 |
| Data processing |
360 |
375 |
667 |
739 |
| FDIC insurance |
511 |
824 |
1,029 |
1,674 |
| Loan processing and collection costs |
554 |
511 |
1,090 |
1,102 |
| OREO valuation adjustment |
662 |
1,097 |
795 |
1,297 |
| Amortization of intangible assets |
238 |
263 |
475 |
539 |
| Other expenses |
1,428 |
1,574 |
2,874 |
2,973 |
| Noninterest Expense, Total |
8,576 |
9,577 |
16,821 |
18,377 |
| Income (loss) before income taxes |
83 |
(2,952) |
(417) |
(6,628) |
| Income tax expense (benefit) |
|
(528) |
|
(746) |
| Net income (loss) |
83 |
(2,424) |
(417) |
(5,882) |
| Preferred stock dividends |
523 |
501 |
1,040 |
995 |
| Net income (loss) for common stockholders |
(440) |
(2,925) |
(1,457) |
(6,877) |
| Basic earnings (loss) per common share |
$ (0.07) |
$ (0.48) |
$ (0.24) |
$ (1.14) |
| Diluted earnings (loss) per common share |
$ (0.07) |
$ (0.48) |
$ (0.24) |
$ (1.14) |
| Total comprehensive income (loss): |
|
|
|
|
| Net income (loss) |
83 |
(2,424) |
(417) |
(5,882) |
| Change in unrealized gains (losses) on available for sale securities for which a portion of an other-than-temporary impairment has been recognized in earnings, net of reclassifications and tax effect |
|
(21) |
|
(145) |
| Change in unrealized gains (losses) on other securities available for sale, net of reclassifications and tax effect |
772 |
1,416 |
1,991 |
2,401 |
| Reclassification adjustment: |
|
|
|
|
| Net impairment loss recognized in earnings |
|
107 |
|
499 |
| (Gains) recognized in earnings |
(698) |
(379) |
(714) |
(379) |
| Net unrealized gains (loss) |
74 |
1,123 |
1,277 |
2,376 |
| Tax expense (benefit) |
|
434 |
|
919 |
| Other comprehensive income (loss) |
74 |
689 |
1,277 |
1,457 |
| Total comprehensive income (loss) |
$ 157 |
$ (1,735) |
$ 860 |
$ (4,425) |