Quarterly report pursuant to Section 13 or 15(d)

Income Statement

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Income Statement (USD $)
In Thousands, except Share data, unless otherwise specified
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
INTEREST INCOME    
Interest and Fees on Loans $ 22,005 $ 23,947
Investment Securities:    
Taxable Exempt Securities 794 852
Tax Exempt Securities 106 219
Federal Funds Sold 225 171
Total Interest Income 23,130 25,189
INTEREST EXPENSE    
Deposits 643 1,258
Short-Term Borrowings 8 111
Subordinated Notes Payable 382 340
Other Long-Term Borrowings 436 494
Total Interest Expense 1,469 2,203
NET INTEREST INCOME 21,661 22,986
Provision for Loan Losses 4,793 4,133
Net Interest Income After Provision for Loan Losses 16,868 18,853
NONINTEREST INCOME    
Service Charges on Deposit Accounts 6,309 5,983
Data Processing 675 974
Asset Management Fees 1,015 1,080
Retail Brokerage Fees 758 729
Mortgage Banking Fees 848 617
Bank Card Fees 2,771 2,496
Gain on Sale of Visa Stock 0 3,172
Noninterest Income, Other 1,210 1,283
Total Noninterest Income 13,586 16,334
NONINTEREST EXPENSE    
Salaries and Associate Benefits 16,843 16,577
Occupancy, Net 2,266 2,396
Furniture and Equipment 2,201 2,226
Intangible Amortization 108 353
Other Real Estate 3,513 3,677
Other 7,666 8,102
Total Noninterest Expense 32,597 33,331
(LOSS) INCOME BEFORE INCOME TAXES (2,143) 1,856
Income Tax (Benefit) Expense (981) 546
NET (LOSS) INCOME (1,162) 1,310
BASIC NET (LOSS) INCOME PER SHARE $ (0.07) $ 0.08
DILUTED NET (LOSS) INCOME PER SHARE $ (0.07) $ 0.08
Average Basic Shares Outstanding 17,181,333 17,121,602
Average Diluted Shares Outstanding 17,181,333 17,130,118
Other Comprehensive (Loss) Income:    
Change in Unrealized Gain on Available-for-Sale Securities (net of tax) (246) 68
Total Comprehensive (Loss) Income $ (1,408) $ 2,688