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COMMUNITY FINANCIAL CORPORATION -- CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
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3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
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Sep. 30, 2012
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Sep. 30, 2011
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Sep. 30, 2012
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Sep. 30, 2011
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| INTEREST INCOME | ||||
| Loans | $ 5,784,999 | $ 6,560,198 | $ 11,776,734 | $ 13,381,644 |
| Investment securities | 62,851 | 21,107 | 113,065 | 30,574 |
| Other interest income | 52,646 | 40,783 | 112,764 | 119,581 |
| Total interest income | 5,900,496 | 6,622,088 | 12,002,563 | 13,531,799 |
| INTEREST EXPENSE | ||||
| Deposits | 608,171 | 861,474 | 1,240,456 | 1,815,701 |
| Borrowed money | 42,229 | 38,582 | 89,680 | 83,746 |
| Total interest expense | 650,400 | 900,056 | 1,330,136 | 1,899,447 |
| NET INTEREST INCOME | 5,250,096 | 5,722,032 | 10,672,427 | 11,632,352 |
| PROVISION FOR LOAN LOSSES | 1,803,136 | 1,123,022 | 1,987,548 | 1,829,275 |
| NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 3,446,960 | 4,599,010 | 8,684,879 | 9,803,077 |
| NONINTEREST INCOME | ||||
| Service charges, fees and commissions | 821,026 | 882,079 | 1,632,911 | 1,744,190 |
| Other noninterest income | 96,555 | 148,441 | 192,484 | 260,598 |
| Total noninterest income | 917,581 | 1,030,520 | 1,825,395 | 2,004,788 |
| NONINTEREST EXPENSE | ||||
| Compensation and benefits | 2,199,636 | 2,398,909 | 4,437,224 | 4,813,411 |
| Occupancy | 428,973 | 412,230 | 832,710 | 819,421 |
| Data processing | 398,984 | 442,336 | 796,112 | 886,052 |
| Federal insurance premium | 123,549 | 70,177 | 231,993 | 189,764 |
| Advertising | 129,263 | 95,943 | 282,164 | 198,708 |
| Real estate owned and collection | 15,730 | 699,861 | 435,703 | 2,264,503 |
| Professional fees | 236,286 | 65,280 | 398,563 | 95,426 |
| Other noninterest expense | 319,623 | 335,604 | 583,093 | 579,707 |
| Total noninterest expense | 3,852,044 | 4,520,340 | 7,997,562 | 9,846,992 |
| INCOME BEFORE TAXES | 512,497 | 1,109,190 | 2,512,712 | 1,960,873 |
| INCOME TAX EXPENSE | 171,157 | 400,013 | 953,730 | 703,697 |
| NET INCOME | 341,340 | 709,177 | 1,558,982 | 1,257,176 |
| Effective Dividend on Preferred Stock | 188,197 | 188,197 | 376,394 | 376,394 |
| NET INCOME AVAILABLE TO COMMON STOCKHOLDERS | $ 153,143 | $ 520,980 | $ 1,182,588 | $ 880,782 |
| BASIC EARNINGS PER COMMON SHARE | $ 0.04 | $ 0.12 | $ 0.27 | $ 0.20 |
| DILUTED EARNINGS PER COMMON SHARE | $ 0.03 | $ 0.12 | $ 0.27 | $ 0.20 |
| DIVIDENDS PER COMMON SHARE | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.00 |