v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (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, including related fees $ 13,771 $ 14,488 $ 41,363 $ 43,421
Securities and other 1,662 1,792 5,419 5,281
Total interest income 15,433 16,280 46,782 48,702
INTEREST EXPENSE        
Deposits 1,214 1,954 4,128 6,493
Borrowings 257 250 801 758
Total interest expense 1,471 2,204 4,929 7,251
Net interest income 13,962 14,076 41,853 41,451
Provision for loan losses 2,200 2,550 5,700 8,550
Net interest income after provision for loan losses 11,762 11,526 36,153 32,901
NON-INTEREST INCOME        
Service charges and fees 2,325 2,470 6,767 7,051
Mortgage banking income 917 704 2,092 1,209
Net securities gains(losses) 0 0 203 231
Company owned life insurance earnings 300 306 910 842
Bankcard transaction revenue 940 848 2,794 2,497
Trust fee income 710 630 2,093 2,016
Other 669 339 1,961 1,348
Total non-interest income 5,861 5,297 16,820 15,194
NON-INTEREST EXPENSE        
Salaries and benefits 5,909 5,351 17,084 15,150
Occupancy and equipment 1,316 1,216 3,908 3,705
Data processing 505 500 1,573 1,461
Advertising 377 464 1,146 1,186
Other 3,692 3,196 10,957 10,209
Total non-interest expense 11,799 10,727 34,668 31,711
INCOME BEFORE INCOME TAXES 5,824 6,096 18,305 16,384
Less: income taxes 1,628 1,822 5,170 4,804
NET INCOME 4,196 4,274 13,135 11,580
Preferred stock dividend and discount accretion 0 (261) 0 (777)
Net Income available to common shareholders 4,196 4,013 13,135 10,803
Comprehensive Income $ 5,463 $ 5,136 $ 14,826 $ 14,549
Net income per common share:        
Earnings per share, basic $ 0.56 $ 0.54 $ 1.76 $ 1.45
Earnings per share, diluted $ 0.56 $ 0.54 $ 1.74 $ 1.45