|
Consolidated Statements of Operations (USD $) In Thousands, except Share data, unless otherwise specified
|
3 Months Ended |
|
Mar. 31, 2013
|
Mar. 31, 2012
|
| Interest income |
|
|
| Interest and fees on loans |
$ 10,685 |
$ 12,049 |
| Interest on investment securities: Taxable |
1,091 |
1,162 |
| Interest on investment securities: Exempt from federal income tax |
428 |
498 |
| Total investment income |
1,519 |
1,660 |
| Other |
84 |
59 |
| Total interest income |
12,288 |
13,768 |
| Interest expense |
|
|
| Interest on deposits |
1,327 |
1,893 |
| Interest on short-term borrowings |
14 |
46 |
| Interest on long-term borrowings |
1,614 |
1,946 |
| Total interest expense |
2,955 |
3,885 |
| Net interest income |
9,333 |
9,883 |
| Provision for loan losses |
865 |
8,124 |
| Net interest income after provision for loan losses |
8,468 |
1,759 |
| Other operating income |
|
|
| Changes in fair value on impaired securities |
1,663 |
328 |
| Portion of gain recognized in other comprehensive income (before taxes) |
(1,663) |
(328) |
| Net securities impairment losses recognized in operations |
0 |
0 |
| Net gains - other |
329 |
703 |
| Total net gains |
329 |
703 |
| Service charges |
874 |
862 |
| Trust department |
1,196 |
1,115 |
| Insurance commissions |
1 |
6 |
| Debit card income |
476 |
492 |
| Bank owned life insurance |
249 |
971 |
| Brokerage commissions |
162 |
185 |
| Other |
369 |
421 |
| Total other income |
3,327 |
4,052 |
| Total other operating income |
3,656 |
4,755 |
| Other operating expenses |
|
|
| Salaries and employee benefits |
4,844 |
4,889 |
| FDIC premiums |
451 |
465 |
| Equipment |
642 |
682 |
| Occupancy |
704 |
710 |
| Data processing |
729 |
680 |
| Other |
2,264 |
1,714 |
| Total other operating expenses |
9,634 |
9,140 |
| Income/(Loss) before income tax expense |
2,490 |
(2,626) |
| Applicable income tax expense |
568 |
39 |
| Net Income/(Loss) |
1,922 |
(2,665) |
| Accumulated preferred stock dividends and discount accretion |
(437) |
(415) |
| Net Income Available to/Net (Loss) Attributable to Common Shareholders |
$ 1,485 |
$ (3,080) |
| Basic and diluted net income/(loss) per common share |
$ 0.24 |
$ (0.50) |
| Weighted average number of basic and diluted shares outstanding |
6,199 |
6,183 |