v2.3.0.9
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data
3 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Interest income    
Loans, including fees $ 2,535 $ 2,595
Securities    
Taxable 480 425
Tax-exempt 245 210
Federal funds sold and other interest bearing deposits 16 10
Total interest income 3,276 3,240
Interest expense    
Deposits 330 465
Short-term borrowings 11 13
Federal Home Loan Bank advances 60 69
Total interest expense 401 547
Net interest income 2,875 2,693
Provision for loan losses 92 102
Net interest income after provision for loan losses 2,783 2,591
Non-interest income    
Service charges on deposit accounts 356 335
Debit card interchange income 179 150
Bank owned life insurance income 51 45
Securities gains, net 49 17
Gain on sale of OREO 0 2
Other 37 57
Total non-interest income 672 606
Non-interest expenses    
Salaries and employee benefits 1,326 1,177
Occupancy and equipment 258 264
Data processing expenses 139 136
Professional and director fees 94 103
FDIC Assessments 50 78
Franchise taxes 65 58
Marketing and Advertising 76 37
Telephone and network communications 58 52
Debit card processing expenses 94 84
Amortization of intangible 41 41
Other 361 334
Total non-interest expenses 2,562 2,364
Income before income taxes 893 833
Income tax expense 206 200
Net Income $ 687 $ 633
Basic and diluted earnings per share ( in dollars per share) $ 0.34 $ 0.31