Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income

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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Interest income:    
Real estate loans $ 4,205 $ 4,250
Commercial loans 795 850
Consumer loans 6 9
Total loan interest 5,006 5,109
Securities 1,251 1,386
Other interest earning assets 6 4
Interest and Dividend Income Securities and Other 1,257 1,390
Total interest income 6,263 6,499
Interest expense:    
Deposits 303 444
Repurchase agreements 17 20
Borrowed funds 142 181
Total interest expense 462 645
Net interest income 5,801 5,854
Provision for loan losses 135 525
Net interest income after provision for loan losses 5,666 5,329
Noninterest income:    
Fees and service charges 591 638
Wealth management operations 367 332
Gain on sale of loans held-for-sale, net 159 75
Gain on sale of securities, net 128 366
Increase in cash value of bank owned life insurance 87 97
Gain on foreclosed real estate, net 17 36
Other 14 53
Total noninterest income 1,363 1,597
Noninterest expense:    
Compensation and benefits 2,642 2,625
Occupancy and equipment 782 819
Data processing 240 271
Federal deposit insurance premiums 122 144
Marketing 108 75
Other 901 1,288
Total noninterest expense 4,795 5,222
Income before income tax expenses 2,234 1,704
Income tax expenses 564 350
Net income $ 1,670 $ 1,354
Earnings per common share:    
Basic (in dollars per share) $ 0.59 $ 0.48
Diluted (in dollars per share) $ 0.59 $ 0.48
Dividends declared per common share (in dollars per share) $ 0.19 $ 0.15