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 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Interest income        
Loans, including fees $ 10,639 $ 10,995 $ 32,129 $ 34,156
Securities        
Taxable 504 476 1,503 1,352
Tax-exempt 309 211 828 508
FHLB Stock 105 98 365 294
Federal funds sold and other short-term investments 117 139 347 349
Total interest income 11,674 11,919 35,172 36,659
Interest expense        
Deposits 614 953 1,974 3,020
Other borrowings 756 842 2,263 2,568
Subordinated and long-term debt 0 0 0 0
Total interest expense 1,370 1,795 4,237 5,588
Net interest income 10,304 10,124 30,935 31,071
Provision for loan losses (750) (1,500) (2,750) (3,250)
Net interest income after provision for loan losses 11,054 11,624 33,685 34,321
Noninterest income        
Service charges and fees 1,163 1,072 3,219 3,041
Net gains on mortgage loans 679 612 1,405 2,145
Trust fees 669 584 2,002 1,797
ATM and debit card fees 1,170 1,104 3,425 3,212
Gain on sale of securities 0 0 51 80
Other 622 579 1,779 1,850
Total noninterest income 4,303 3,951 11,881 12,125
Noninterest expense        
Salaries and benefits 5,810 5,834 17,177 17,359
Occupancy of premises 897 908 2,837 2,759
Furniture and equipment 803 819 2,394 2,414
Legal and professional 196 192 639 565
Marketing and promotion 226 245 703 738
Data processing 635 570 1,807 1,704
FDIC assessment 287 317 934 1,133
Interchange and other card expense 288 315 825 967
Bond and D&O Insurance 166 187 493 555
Net losses on repossessed and foreclosed properties 449 1,059 634 1,412
Administration and disposition of problem assets 412 752 1,584 2,660
Other 1,220 1,164 3,770 3,552
Total noninterest expenses 11,389 12,362 33,797 35,818
Income before income tax 3,968 3,213 11,769 10,628
Income tax expense 1,206 975 3,614 3,313
Net income 2,762 2,238 8,155 7,315
Dividends declared on preferred shares 0 0 0 0
Net income available to common shares $ 2,762 $ 2,238 $ 8,155 $ 7,315
Basic earnings per common share (in dollars per share) $ 0.08 $ 0.08 $ 0.24 $ 0.27
Diluted earnings per common share (in dollars per share) $ 0.08 $ 0.08 $ 0.24 $ 0.27
Cash dividends per common share (in dollars per share) $ 0.02 $ 0 $ 0.06 $ 0