Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME (unaudited)

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CONSOLIDATED STATEMENTS OF INCOME (unaudited) (USD $)
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Interest income    
Loans, including fees $ 10,943,000 $ 11,668,000
Securities    
Taxable 500,000 428,000
Tax-exempt 255,000 142,000
FHLB Stock 156,000 99,000
Federal funds sold and other short-term investments 116,000 96,000
Total interest income 11,970,000 12,433,000
Interest expense    
Deposits 740,000 1,086,000
Other borrowings 431,000 450,000
Subordinated and long-term debt 324,000 414,000
Total interest expense 1,495,000 1,950,000
Net interest income 10,475,000 10,483,000
Provision for loan losses (1,000,000) (750,000)
Net interest income after provision for loan losses 11,475,000 11,233,000
Noninterest income    
Service charges and fees 991,000 952,000
Net gains on mortgage loans 258,000 825,000
Trust fees 631,000 588,000
ATM and debit card fees 1,052,000 976,000
Gain on sale of securities 10,000 20,000
Other 568,000 602,000
Total noninterest income 3,510,000 3,963,000
Noninterest expense    
Salaries and benefits 5,823,000 5,794,000
Occupancy of premises 1,008,000 946,000
Furniture and equipment 840,000 749,000
Legal and professional 205,000 189,000
Marketing and promotion 239,000 247,000
Data processing 589,000 546,000
FDIC assessment 328,000 471,000
Interchange and other card expense 271,000 291,000
Bond and D&O Insurance 163,000 186,000
Net (gains) losses on repossessed and foreclosed properties (186,000) 59,000
Administration and disposition of problem assets 657,000 902,000
Other 1,232,000 1,201,000
Total noninterest expenses 11,169,000 11,581,000
Income before income tax 3,816,000 3,615,000
Income tax expense 1,177,000 1,142,000
Net income 2,639,000 2,473,000
Dividends declared on preferred shares 0 0
Net income available to common shares $ 2,639,000 $ 2,473,000
Basic earnings per common share (in dollars per share) $ 0.08 $ 0.09
Diluted earnings per common share (in dollars per share) $ 0.08 $ 0.09
Cash dividends per common share (in dollars per share) $ 0.02 $ 0