Annual report pursuant to Section 13 and 15(d)

QUARTERLY FINANCIAL DATA (Unaudited)

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QUARTERLY FINANCIAL DATA (Unaudited)
 12 Months Ended
Dec. 31, 2012
QUARTERLY FINANCIAL DATA (Unaudited) [Abstract]  
QUARTERLY FINANCIAL DATA (Unaudited)
NOTE 19 - QUARTERLY FINANCIAL DATA (Unaudited)

(Dollars in thousands except per share data)

   
Interest
    
Net Interest
    
Provision for
          
Earnings Per
Common Share
  
   
Income
    
Income
    
Loan Losses
    
Net Income
    
Basic
    
Fully Diluted
  
2012
                                    
First quarter
   $ 14,099     $ 11,281     $ (3,600 )   $ 4,485     $ .17     $ .17  
Second quarter
     13,900       11,322       (1,750 )     3,186       .12       .12  
Third quarter
     16,269       13,892       (1,250 )     6,585       .24       .24  
Fourth quarter
     13,009       10,968       (500 )     21,234       .78       .78  
                                                 
2011
                                                
First quarter
   $ 15,853     $ 11,598     $ (1,450 )   $ 1,291     $ .07     $ .07  
Second quarter
     15,490       11,782       (2,000 )     2,401       .13       .13  
Third quarter
     14,900       11,501       (1,250 )     1,052       .04       .04  
Fourth quarter
     14,537       11,419       ---       1,085       .04       .04  
 
During the first quarter of 2012, we collected $4.4 million on a previously charged off loan, resulting in the large negative provision for loan losses. During the third quarter of 2012, we collected a $2.8 million prepayment penalty, positively impacting interest income, net interest income and net income. During the fourth quarter of 2012, we reversed our deferred tax asset valuation allowance, increasing net income by $18.9 million.