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| Financial Reports Financial Highlights As of JUNE 30, 2010 (in thousands, except for shares outstanding and book value per share) | | 06/30/2010 | 06/30/2009 | $ Change | % Change | | Total assets | $189,605 | $186,978 | $2,627 | 1.4% | | Total investments | $39,003 | $25,481 | $13,522 | 53.1% | | Total loans | $134,175 | $150,493 | ($16,318) | -10.8% | | Deferred loan fees | ($165) | ($274) | $109 | -39.8% | | Allowance for loan losses | ($3,916) | ($2,715) | ($1,201) | 44.2% | | Net loans | $130,094 | $147,504 | ($17,410) | -11.8% | | Total deposits | $169,487 | $158,458 | $11,029 | 7.0% | | Total borrowings | $0 | $8,006 | ($8,006) | -100% | | Total stockholders' equity | $18,935 | $19,203 | ($268) | -1.4% | | Non-performing assets | $6,891 | $7,534 | ($643) | -8.5% | | Non-performing assets/Total assets | 3.63% | 4.03% | | | | QTD net interest margin | 3.74% | 3.63% | | | | YTD net interest margin | 3.85% | 3.59% | | | | Net Loans to Deposits | 76.8% | 93.1% | | | | Tier 1 Leverage Ratio | 9.20% | 9.74% | | | | Total Risk-Based Capital Ratio | 14.23% | 13.54% | | | | Ending shares outstanding | 2,444,255 | 2,444,255 | | | | Ending book value per share | $6.09 | $6.20 | | |
(in thousands, except for earnings per share) |
| | For the Six Months Ended JUNE 30, | | | 2010 | 2009 | | Total interest income | $4,237 | $4,395 | | Total interest expense | 656 | 1,208 | | Net interest income | 3,581 | 3,187 | | Total non-interest income | 648 | 404 | | Total Income | 4,229 | 3,591 | | Total non-interest expense | 3,144 | 2,931 | | Income before loan loss provision, stock options and income tax expenses. | 1,085 | 660 | | Provision for Loan Losses | 482 | 630 | | Stock option expense | 48 | 65 | | Income tax expense/(benefit) | 67 | (206) | | Net income | $488 | $171 | | Adjusted income before loan loss provision, stock option expense, and income tax benefits | $1,085 | $660 | | Earnings per share | $0.20 | $0.07 | | Earnings per share before loan loss provision, stock option expense, and income tax benefits | $0.44 | $0.27 |
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