Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME (USD $)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Interest income    
Loans, including fees $ 54,549,000 $ 59,334,000
Securities    
Taxable 1,544,000 497,000
Tax-exempt 330,000 38,000
FHLB Stock 351,000 294,000
Federal funds sold and other short-term investments 502,000 616,000
Total interest income 57,276,000 60,779,000
Interest expense    
Deposits 5,721,000 9,273,000
Other borrowings 2,374,000 3,609,000
Subordinated and long-term debt 1,719,000 1,598,000
Total interest expense 9,814,000 14,480,000
Net interest income 47,462,000 46,299,000
Provision for loan losses (7,100,000) (4,700,000)
Net interest income after provision for loan losses 54,562,000 50,999,000
Noninterest income    
Service charges and fees 3,323,000 3,692,000
Net gains on mortgage loans 2,882,000 1,728,000
Trust fees 2,389,000 2,543,000
ATM and debit card fees 4,130,000 3,963,000
Gain on sale of securities 73,000 0
Other 2,831,000 2,966,000
Total noninterest income 15,628,000 14,892,000
Noninterest expense    
Salaries and benefits 22,986,000 22,217,000
Occupancy of premises 3,815,000 3,949,000
Furniture and equipment 3,259,000 3,318,000
Legal and professional 664,000 971,000
Marketing and promotion 929,000 834,000
Data processing 1,268,000 1,284,000
FDIC assessment 2,196,000 3,472,000
ATM and debit card processing 1,222,000 1,206,000
FHLB Advance prepayment penalty 322,000 0
Bond and D&O Insurance 909,000 1,512,000
Losses on repossessed and foreclosed properties 5,295,000 8,371,000
Administration and disposition of problem assets 4,665,000 7,230,000
Other 5,753,000 5,698,000
Total noninterest expenses 53,283,000 60,062,000
Income before income tax 16,907,000 5,829,000
Income tax expense (benefit) (18,583,000) 0
Net income 35,490,000 5,829,000
Dividends declared on preferred shares 0 0
Net income available to common shares $ 35,490,000 $ 5,829,000
Basic earnings per common share (in dollars per share) $ 1.31 $ 0.26
Diluted earnings per common share (in dollars per share) $ 1.31 $ 0.26
Cash dividends per common share (in dollars per share) $ 0 $ 0