| Summary of Results for Reportable Segments |
All
intercompany transactions have been eliminated to determine the
consolidated balances. The results for the two reportable
segments of the Company are included in the following
table:
|
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|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
| |
|
2013 |
|
| |
|
FUSB |
|
|
ALC |
|
|
All
Other |
|
|
Eliminations |
|
|
Consolidated |
|
| |
|
(Dollars in
Thousands) |
|
|
Total interest
income
|
|
$ |
19,833 |
|
|
$ |
17,026 |
|
|
$ |
10 |
|
|
$ |
(3,233 |
) |
|
$ |
33,636 |
|
|
Total interest
expense
|
|
|
2,915 |
|
|
|
3,223 |
|
|
|
— |
|
|
|
(3,233 |
) |
|
|
2,905 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
|
|
16,918 |
|
|
|
13,803 |
|
|
|
10 |
|
|
|
— |
|
|
|
30,731 |
|
|
Provision (reduction in
reserve) for loan losses
|
|
|
(2,862 |
) |
|
|
2,220 |
|
|
|
— |
|
|
|
— |
|
|
|
(642 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income after
provision (reduction in reserve)
|
|
|
19,780 |
|
|
|
11,583 |
|
|
|
10 |
|
|
|
— |
|
|
|
31,373 |
|
|
Total non-interest
income
|
|
|
3,553 |
|
|
|
1,387 |
|
|
|
812 |
|
|
|
(887 |
) |
|
|
4,865 |
|
|
Total non-interest
expense
|
|
|
20,464 |
|
|
|
10,303 |
|
|
|
922 |
|
|
|
(887 |
) |
|
|
30,802 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before income
taxes
|
|
|
2,869 |
|
|
|
2,667 |
|
|
|
(100 |
) |
|
|
— |
|
|
|
5,436 |
|
|
Provision for income
taxes
|
|
|
493 |
|
|
|
1,012 |
|
|
|
4 |
|
|
|
— |
|
|
|
1,509 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
(loss)
|
|
$ |
2,376 |
|
|
$ |
1,655 |
|
|
|
(104 |
) |
|
|
— |
|
|
|
3,927 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other significant
items:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
$ |
559,159 |
|
|
$ |
71,572 |
|
|
$ |
76,236 |
|
|
$ |
(137,166 |
) |
|
$ |
569,801 |
|
|
Total investment
securities
|
|
|
170,724 |
|
|
|
— |
|
|
|
80 |
|
|
|
— |
|
|
|
170,804 |
|
|
Total loans, net
|
|
|
293,069 |
|
|
|
67,474 |
|
|
|
— |
|
|
|
(59,616 |
) |
|
|
300,927 |
|
|
Investment in
subsidiaries
|
|
|
784 |
|
|
|
— |
|
|
|
71,096 |
|
|
|
(71,875 |
) |
|
|
5 |
|
|
Fixed asset
additions
|
|
|
323 |
|
|
|
58 |
|
|
|
— |
|
|
|
— |
|
|
|
381 |
|
|
Depreciation and
amortization expense
|
|
|
539 |
|
|
|
178 |
|
|
|
— |
|
|
|
— |
|
|
|
717 |
|
|
Total interest income from
external customers
|
|
|
16,610 |
|
|
|
17,026 |
|
|
|
— |
|
|
|
— |
|
|
|
33,636 |
|
|
Total interest income from
affiliates
|
|
|
3,223 |
|
|
|
— |
|
|
|
10 |
|
|
|
(3,233 |
) |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
2012 |
|
| |
|
FUSB |
|
|
ALC |
|
|
All
Other |
|
|
Eliminations |
|
|
Consolidated |
|
| |
|
(Dollars in
Thousands) |
|
|
Total interest
income
|
|
$ |
24,109 |
|
|
$ |
18,503 |
|
|
$ |
19 |
|
|
$ |
(3,878 |
) |
|
$ |
38,753 |
|
|
Total interest
expense
|
|
|
4,575 |
|
|
|
3,859 |
|
|
|
— |
|
|
|
(3,878 |
) |
|
|
4,556 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
|
|
19,534 |
|
|
|
14,644 |
|
|
|
19 |
|
|
|
— |
|
|
|
34,197 |
|
|
Provision for loan
losses
|
|
|
1,294 |
|
|
|
3,044 |
|
|
|
— |
|
|
|
— |
|
|
|
4,338 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income after
provision
|
|
|
18,240 |
|
|
|
11,600 |
|
|
|
19 |
|
|
|
— |
|
|
|
29,859 |
|
|
Total non-interest
income
|
|
|
3,967 |
|
|
|
1,414 |
|
|
|
956 |
|
|
|
(772 |
) |
|
|
5,565 |
|
|
Total non-interest
expense
|
|
|
21,368 |
|
|
|
10,734 |
|
|
|
1,154 |
|
|
|
(772 |
) |
|
|
32,484 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before income
taxes
|
|
|
839 |
|
|
|
2,280 |
|
|
|
(179 |
) |
|
|
— |
|
|
|
2,940 |
|
|
(Benefit from) provision
for income taxes
|
|
|
(145 |
) |
|
|
884 |
|
|
|
6 |
|
|
|
— |
|
|
|
745 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
(loss)
|
|
$ |
984 |
|
|
$ |
1,396 |
|
|
$ |
(185 |
) |
|
|
— |
|
|
$ |
2,195 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other significant
items:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
$ |
557,374 |
|
|
$ |
79,090 |
|
|
$ |
74,958 |
|
|
$ |
(144,289 |
) |
|
$ |
567,133 |
|
|
Total investment
securities
|
|
|
113,670 |
|
|
|
— |
|
|
|
80 |
|
|
|
— |
|
|
|
113,750 |
|
|
Total loans, net
|
|
|
329,425 |
|
|
|
71,609 |
|
|
|
— |
|
|
|
(63,634 |
) |
|
|
337,400 |
|
|
Investment in
subsidiaries
|
|
|
784 |
|
|
|
— |
|
|
|
69,757 |
|
|
|
(70,536 |
) |
|
|
5 |
|
|
Fixed asset
additions
|
|
|
314 |
|
|
|
258 |
|
|
|
— |
|
|
|
— |
|
|
|
572 |
|
|
Depreciation and
amortization expense
|
|
|
562 |
|
|
|
153 |
|
|
|
— |
|
|
|
— |
|
|
|
715 |
|
|
Total interest income from
external customers
|
|
|
20,250 |
|
|
|
18,503 |
|
|
|
— |
|
|
|
— |
|
|
|
38,753 |
|
|
Total interest income from
affiliates
|
|
|
3,858 |
|
|
|
— |
|
|
|
19 |
|
|
|
(3,877 |
) |
|
|
— |
|
|