v2.3.0.9
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2011
Dec. 31, 2010
Interest income        
Loans, including fees $ 2,562 $ 2,578 $ 5,097 $ 5,173
Securities, taxable 475 373 955 798
Securities, tax-exempt 249 221 494 431
Federal funds sold and other interest bearing deposits 14 13 30 23
Total interest income 3,300 3,185 6,576 6,425
Interest expense        
Deposits 305 432 635 897
Short-term borrowings 7 11 18 24
Federal Home Loan Bank advances 69 66 129 135
Total interest expense 381 509 782 1,056
Net interest income 2,919 2,676 5,794 5,369
Provision for loan losses 67 142 159 244
Net interest income after provision for loan losses 2,852 2,534 5,635 5,125
Non-interest income        
Service charges on deposit accounts 367 327 723 662
Debit card interchange income 179 157 358 307
Bank owned life insurance income 49 44 100 89
Securities gains, net 106 53 155 70
Other-than-temporary loss        
Total impairment loss 0 (50) 0 (81)
Loss recognized in other comprehensive income 0 0 0 31
Net impairment loss recognized in earnings 0 (50) 0 (50)
Gain (loss) on sale of other real estate owned (53) 0 (53) 2
Other 49 51 86 108
Total non-interest income 697 582 1,369 1,188
Non-interest expenses        
Salaries and employee benefits 1,313 1,187 2,639 2,364
Occupancy and equipment 258 247 516 511
Data processing expenses 140 140 279 276
Professional and director fees 97 82 191 185
FDIC Assessments 49 78 99 156
Franchise taxes 64 59 129 117
Marketing and advertising 53 53 129 90
Telephone and network communications 58 58 116 110
Debit card processing expenses 93 84 187 168
Amortization of intangible 40 40 81 81
Other 335 350 696 684
Total non-interest expenses 2,500 2,378 5,062 4,742
Income before income taxes 1,049 738 1,942 1,571
Income tax expense 258 164 464 364
Net Income $ 791 $ 574 $ 1,478 $ 1,207
Average common shares - basic (in shares) 2,050,176 2,041,517 2,050,075 2,040,043
Average common shares - diluted (in shares) 2,050,544 2,041,517 2,050,383 2,040,043
Basic and diluted earnings per share ( in dollars per share) $ 0.39 $ 0.28 $ 0.72 $ 0.59