Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME (unaudited)

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CONSOLIDATED STATEMENTS OF INCOME (unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Interest income    
Loans, including fees $ 11,668 $ 13,526
Securities    
Taxable 428 318
Tax-exempt 142 42
FHLB Stock 99 85
Federal funds sold and other short-term investments 96 128
Total interest income 12,433 14,099
Interest expense    
Deposits 1,086 1,650
Debt and other borrowed funds 864 1,168
Total interest expense 1,950 2,818
Net interest income 10,483 11,281
Provision for loan losses (750) (3,600)
Net interest income after provision for loan losses 11,233 14,881
Noninterest income    
Service charges and fees 913 795
Net gains on mortgage loans 825 471
Trust fees 588 609
Gain on sale of securities 20 0
ATM and debit card fees 976 981
Other 641 855
Total noninterest income 3,963 3,711
Noninterest expense    
Salaries and benefits 5,794 5,720
Occupancy of premises 946 971
Furniture and equipment 749 828
Legal and professional 189 212
Marketing and promotion 247 210
Data processing 352 351
FDIC assessment 471 710
ATM and debit card processing 291 288
Bond and D&O Insurance 186 268
Losses on repossessed and foreclosed properties 59 1,596
Administration and disposition of problem assets 902 1,462
Other 1,395 1,491
Total noninterest expenses 11,581 14,107
Income before income tax 3,615 4,485
Income tax expense 1,142 0
Net income 2,473 4,485
Dividends declared on preferred shares 0 0
Net income available to common shares $ 2,473 $ 4,485
Basic earnings per common share (in dollars per share) $ 0.09 $ 0.17
Diluted earnings per common share (in dollars per share) $ 0.09 $ 0.17
Cash dividends per common share (in dollars per share) $ 0 $ 0