Income Statement

2005 Y 2006 Y 2007 Y 2008 Y 12/31/2005 12/31/2006 12/31/2007 12/31/2008  (In $000) Interest Income 57,078 62,093 64,877 56,783 Interest Expense 26,529 32,771 36,421 30,974 Net Interest Income 30,549 29,322 28,456 25,809 FTE Net Interest Income NA NA NA NA Provision for Loan Losses 1,480 1,440 1,495 14,793 Trading Account Income 0 0 0 0 Foreign Exchange Income 0 0 0 0 Trust Revenue NA NA NA NA Service Charges on Deposits 1,973 2,056 2,441 2,387 Gain on Sale of Loans (FAS 140) 683 295 353 364 Loan Fees & Charges 1,500 863 1,307 (1,317) Bank-owned Life Insurance Revenue NA 920 948 1,000 Insurance Revenue NA NA NA NA Investment Banking & Brokerage NA NA NA NA Other Noninterest Income 2,338 1,544 1,538 1,272 Total Noninterest Income 6,494 5,678 6,587 3,706 Realized Gain / Loss on Securities 113 0 1 2 Nonrecurring Revenue 8 22 0 0 Compensation & Benefits 11,640 12,597 13,216 13,279 Occupancy and Equipment 3,051 3,182 3,464 3,374 Marketing and Promotion Expense 1,218 1,158 1,298 938 Professional Fees NA 1,304 1,452 1,355 Tech & Communications Expense 1,368 1,344 1,186 1,152 Amrt of Intang & Goodwill Impair 0 0 0 6,683 Foreclosure & Repo 23 72 297 1,364 Other Expense 5,477 5,324 6,370 6,391 Total Noninterest Expense 22,777 24,981 27,283 34,536 Nonrecurring Expense 0 0 0 628 Pre-Provision Net Revenue 14,266 10,019 7,760 -5,021 Net Income before Taxes 12,907 8,601 6,266 (20,440) Provision for Taxes 4,141 2,727 1,765 (5,116) Effective Tax Rate 32.08 31.71 28.17 NM Min Int & Oth after-tax Items 0 0 0 0 Extraordinary Items 0 0 0 0 Net Income 8,766 5,874 4,501 (15,324) Net Income Attributable to Noncontrolling Int 0 0 0 0 Net Income Attributable to Parent 8,766 5,874 4,501 (15,324) Preferred Dividends 0 0 0 0 Other Preferred Dividends after Net Income NA 0 0 0 Net Income Avail to Common 8,766 5,874 4,501 (15,324) Net Income for Diluted EPS 8,766 5,874 4,501 (15,324) EPS after Extra ($) 1.15 0.78 0.61 (2.14) EPS Growth after Extra (%) NM (32.20) (21.80) NM   Interest Income/ Expense Detail (In $000)   Interest Income Earned On:  Interest Earned on Loans 50,165 55,088 57,955 50,446 Int Inc: Securities 4,093 6,254 6,490 5,905 Int Inc: Other Earn Assets 2,820 751 432 432 Interest Earned on Securities and Other Assets 6,913 7,005 6,922 6,337 Interest Earned on Total Earning Assets 57,078 62,093 64,877 56,783   Interest Expense Incurred On:  Int Exp: CDs 13,799 NA NA NA Int Exp: Other Deposits 1,635 NA NA NA Int Exp: Total Deposits 15,434 21,248 25,429 22,728 Int Exp: Debt 11,095 11,523 10,992 8,246 Int Exp: Total Int Bearing Liab 26,529 32,771 36,420 30,974   Copyright 2009, © SNL Financial LC  Terms of Use