|
Consolidated Statement Of Income (Loss) And Comprehensive Income (Loss) (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 |
$ 6,850 |
$ 8,297 |
$ 20,839 |
$ 26,414 |
| Securities |
|
|
|
|
| Taxable |
748 |
1,047 |
2,432 |
3,132 |
| Exempt from federal income taxes |
105 |
158 |
344 |
550 |
| Federal funds sold and other |
23 |
40 |
99 |
108 |
| Total interest income |
7,726 |
9,542 |
23,714 |
30,204 |
| Interest expense |
|
|
|
|
| Deposits |
973 |
1,937 |
3,515 |
6,637 |
| Federal funds purchased and securities sold under agreements to repurchase |
10 |
11 |
31 |
32 |
| Federal Home Loan Bank advances |
192 |
347 |
568 |
1,114 |
| Series B mandatory redeemable preferred stock |
4 |
4 |
12 |
12 |
| Subordinated debentures |
157 |
277 |
745 |
821 |
| Notes payable |
92 |
89 |
280 |
270 |
| Total interest expense |
1,428 |
2,665 |
5,151 |
8,886 |
| Net interest income |
6,298 |
6,877 |
18,563 |
21,318 |
| Provision for loan losses |
5,750 |
2,400 |
8,475 |
9,900 |
| Net interest income after provision for loan losses |
548 |
4,477 |
10,088 |
11,418 |
| Noninterest income |
|
|
|
|
| Service charges |
1,128 |
1,232 |
3,217 |
3,483 |
| Mortgage banking income |
777 |
341 |
1,719 |
1,050 |
| Electronic banking services |
550 |
552 |
1,640 |
1,644 |
| Bank-owned life insurance |
246 |
256 |
734 |
755 |
| Securities gains |
684 |
|
1,398 |
379 |
| Total other-than-temporary impairment losses |
|
|
|
(499) |
| Portion of loss recognized in other comprehensive income (before taxes) |
|
|
|
|
| Net impairment on securities |
|
|
|
(499) |
| Gain (loss) on sale of OREO |
40 |
(12) |
465 |
(60) |
| Gain (loss) on sale of other assets |
|
(16) |
|
47 |
| Other income |
404 |
213 |
1,520 |
575 |
| Noninterest Income, Total |
3,829 |
2,566 |
10,693 |
7,374 |
| Noninterest expense |
|
|
|
|
| Salaries and employee benefits |
3,697 |
3,505 |
10,981 |
10,598 |
| Occupancy, net |
681 |
712 |
1,965 |
2,136 |
| Furniture and equipment |
235 |
407 |
902 |
1,267 |
| Marketing |
115 |
56 |
284 |
183 |
| Supplies and printing |
67 |
67 |
200 |
208 |
| Telephone |
180 |
229 |
534 |
637 |
| Data processing |
396 |
381 |
1,063 |
1,120 |
| FDIC insurance |
515 |
323 |
1,544 |
1,997 |
| Loan processing and collection costs |
337 |
495 |
1,427 |
1,597 |
| OREO valuation adjustment |
640 |
4,473 |
1,435 |
5,770 |
| Amortization of intangible assets |
238 |
250 |
713 |
789 |
| Other expenses |
1,383 |
1,499 |
4,257 |
4,472 |
| Noninterest Expense, Total |
8,484 |
12,397 |
25,305 |
30,774 |
| Income (loss) before income taxes |
(4,107) |
(5,354) |
(4,524) |
(11,982) |
| Income tax expense (benefit) |
(788) |
(606) |
(788) |
(1,352) |
| Net income (loss) |
(3,319) |
(4,748) |
(3,736) |
(10,630) |
| Preferred stock dividends |
529 |
505 |
1,569 |
1,500 |
| Net income (loss) for common stockholders |
(3,848) |
(5,253) |
(5,305) |
(12,130) |
| Basic earnings (loss) per common share |
$ (0.63) |
$ (0.87) |
$ (0.87) |
$ (2.01) |
| Diluted earnings (loss) per common share |
$ (0.63) |
$ (0.87) |
$ (0.87) |
$ (2.01) |
| Total comprehensive income (loss): |
|
|
|
|
| Net income (loss) |
(3,319) |
(4,748) |
(3,736) |
(10,630) |
| 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 |
|
|
|
(80) |
| Change in unrealized gains (losses) on other securities available for sale |
1,727 |
1,075 |
3,718 |
3,411 |
| Reclassification adjustment: |
|
|
|
|
| Net impairment loss recognized in earnings |
|
|
|
499 |
| (Gains) recognized in earnings |
(684) |
|
(1,398) |
(379) |
| Net unrealized gains (loss) |
1,043 |
1,075 |
2,320 |
3,451 |
| Tax expense (benefit) |
900 |
416 |
900 |
919 |
| Other comprehensive income (loss) |
143 |
659 |
1,420 |
2,532 |
| Total comprehensive income (loss) |
$ (3,176) |
$ (4,089) |
$ (2,316) |
$ (8,098) |