2013 Q2 Form 10-Q Financial Statement

#000114420413043987 Filed on August 08, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $7.824M $8.841M
YoY Change -11.5%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $390.0K $280.0K
YoY Change 39.29% 21.74%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $1.229M $1.715M
YoY Change -28.34%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $4.837M $3.112M
YoY Change 55.43% -1.21%
Income Tax $965.0K $534.0K
% Of Pretax Income 19.95% 17.16%
Net Earnings $3.872M $2.578M
YoY Change 50.19% 1.5%
Net Earnings / Revenue 49.49% 29.16%
Basic Earnings Per Share $0.70 $0.47
Diluted Earnings Per Share $0.70 $0.47
COMMON SHARES
Basic Shares Outstanding 5.490K shares 5.446M shares
Diluted Shares Outstanding 5.490K shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $12.89M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $20.60M $16.10M
YoY Change 27.93% 33.06%
Goodwill $19.13M
YoY Change
Intangibles $531.0K
YoY Change
Long-Term Investments
YoY Change
Other Assets $300.0K $0.00
YoY Change -100.0%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $844.3M $806.2M
YoY Change 4.72% 0.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.100M $2.500M
YoY Change 24.0% -13.79%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $59.92M $39.70M
YoY Change 50.94% 71.86%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.100M $2.500M
YoY Change 24.0% -13.79%
LONG-TERM LIABILITIES
Long-Term Debt $42.50M $0.00
YoY Change
Other Long-Term Liabilities $3.900M $4.200M
YoY Change -7.14% 4100.0%
Total Long-Term Liabilities $46.40M $4.200M
YoY Change 1004.76% 4100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.100M $2.500M
Total Long-Term Liabilities $46.40M $4.200M
Total Liabilities $746.0M $707.6M
YoY Change 5.43% -1.82%
SHAREHOLDERS EQUITY
Retained Earnings $58.08M
YoY Change
Common Stock $42.66M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.873M
YoY Change
Treasury Stock Shares 236.7K shares
Shareholders Equity $98.22M $98.62M
YoY Change
Total Liabilities & Shareholders Equity $844.3M $806.2M
YoY Change 4.72% 0.15%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $3.872M $2.578M
YoY Change 50.19% 1.5%
Depreciation, Depletion And Amortization $390.0K $280.0K
YoY Change 39.29% 21.74%
Cash From Operating Activities $3.470M $3.440M
YoY Change 0.87% -17.51%
INVESTING ACTIVITIES
Capital Expenditures -$1.000M -$2.040M
YoY Change -50.98% 537.5%
Acquisitions
YoY Change
Other Investing Activities -$48.51M $21.35M
YoY Change -327.21% -215.41%
Cash From Investing Activities -$49.51M $19.32M
YoY Change -356.26% -202.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 42.53M -22.25M
YoY Change -291.15% 261.2%
NET CHANGE
Cash From Operating Activities 3.470M 3.440M
Cash From Investing Activities -49.51M 19.32M
Cash From Financing Activities 42.53M -22.25M
Net Change In Cash -3.510M 510.0K
YoY Change -788.24% -102.45%
FREE CASH FLOW
Cash From Operating Activities $3.470M $3.440M
Capital Expenditures -$1.000M -$2.040M
Free Cash Flow $4.470M $5.480M
YoY Change -18.43% 22.05%

Facts In Submission

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2193000 USD
CY2012Q4 us-gaap Financing Receivable Recorded Investment30 To59 Days Past Due
FinancingReceivableRecordedInvestment30To59DaysPastDue
1886000 USD
CY2013Q2 us-gaap Financing Receivable Recorded Investment60 To89 Days Past Due
FinancingReceivableRecordedInvestment60To89DaysPastDue
287000 USD
CY2012Q4 us-gaap Financing Receivable Recorded Investment60 To89 Days Past Due
FinancingReceivableRecordedInvestment60To89DaysPastDue
1325000 USD
CY2013Q2 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
58000 USD
CY2012Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
952000 USD
CY2013Q2 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
430058000 USD
CY2012Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
426370000 USD
CY2013Q2 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
4561000 USD
CY2012Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
3783000 USD
CY2013Q2 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
2538000 USD
CY2012Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
4163000 USD
CY2013Q2 us-gaap Foreclosed Assets
ForeclosedAssets
515000 USD
CY2013Q2 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
2551000 USD
CY2012Q4 us-gaap Foreclosed Assets
ForeclosedAssets
468000 USD
us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
2680000 USD
us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
1007000 USD
us-gaap Gain Loss On Sale Of Mortgage Loans
GainLossOnSaleOfMortgageLoans
440000 USD
us-gaap Gain Loss On Sale Of Mortgage Loans
GainLossOnSaleOfMortgageLoans
406000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-133000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0 USD
CY2013Q2 us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
2412000 USD
us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
2680000 USD
CY2012Q2 us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
977000 USD
us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
1007000 USD
CY2013Q2 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
230000 USD
us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
440000 USD
CY2012Q2 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
246000 USD
us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
406000 USD
us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
70000 USD
us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
-52000 USD
CY2013Q2 us-gaap Goodwill
Goodwill
19133000 USD
CY2012Q4 us-gaap Goodwill
Goodwill
19133000 USD
CY2012Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
2561000 USD
CY2013Q2 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
2576000 USD
CY2012Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
2599000 USD
CY2013Q2 us-gaap Held To Maturity Securities Pledged As Collateral
HeldToMaturitySecuritiesPledgedAsCollateral
1082000 USD
CY2012Q4 us-gaap Held To Maturity Securities Pledged As Collateral
HeldToMaturitySecuritiesPledgedAsCollateral
1094000 USD
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
5119000 USD
CY2012 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
3645000 USD
us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
19000 USD
CY2012 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
34000 USD
CY2013Q2 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
3988000 USD
CY2012Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
2363000 USD
CY2013Q2 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
236000 USD
CY2012Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
223000 USD
CY2013Q2 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
5064000 USD
CY2012Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
3360000 USD
CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
4883000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
7876000 USD
CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
3112000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
6351000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
523000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
1264000 USD
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1011000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1478000 USD
CY2012Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
534000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1117000 USD
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-40000 USD
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-271000 USD
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
27799000 USD
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
-13731000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-141000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-54000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-213000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-194000 USD
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-1002000 USD
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-218000 USD
CY2013Q2 us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
262000 USD
us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
502000 USD
CY2012Q2 us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
271000 USD
us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
523000 USD
CY2013Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
531000 USD
CY2012Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
668000 USD
CY2013Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
7824000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
15668000 USD
CY2012Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
8841000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
17768000 USD
CY2013Q2 us-gaap Interest And Dividend Income Securities
InterestAndDividendIncomeSecurities
2691000 USD
us-gaap Interest And Dividend Income Securities
InterestAndDividendIncomeSecurities
5359000 USD
CY2012Q2 us-gaap Interest And Dividend Income Securities
InterestAndDividendIncomeSecurities
3213000 USD
us-gaap Interest And Dividend Income Securities
InterestAndDividendIncomeSecurities
6469000 USD
CY2013Q2 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
5130000 USD
us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
10306000 USD
CY2012Q2 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
5628000 USD
us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
11299000 USD
CY2013Q2 us-gaap Interest Bearing Deposit Liabilities
InterestBearingDepositLiabilities
554695000 USD
CY2012Q4 us-gaap Interest Bearing Deposit Liabilities
InterestBearingDepositLiabilities
532416000 USD
CY2013Q2 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
5705000 USD
CY2012Q4 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
10882000 USD
CY2013Q2 us-gaap Interest Expense
InterestExpense
1229000 USD
us-gaap Interest Expense
InterestExpense
2475000 USD
CY2012Q2 us-gaap Interest Expense
InterestExpense
1715000 USD
us-gaap Interest Expense
InterestExpense
3622000 USD
CY2013Q2 us-gaap Interest Expense Deposits
InterestExpenseDeposits
900000 USD
us-gaap Interest Expense Deposits
InterestExpenseDeposits
1796000 USD
CY2012Q2 us-gaap Interest Expense Deposits
InterestExpenseDeposits
1158000 USD
us-gaap Interest Expense Deposits
InterestExpenseDeposits
2463000 USD
CY2013Q2 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
304000 USD
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
630000 USD
CY2012Q2 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
527000 USD
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
1100000 USD
CY2013Q2 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
25000 USD
us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
49000 USD
CY2012Q2 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
30000 USD
us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
59000 USD
CY2013Q2 us-gaap Interest Income Deposits With Financial Institutions
InterestIncomeDepositsWithFinancialInstitutions
3000 USD
us-gaap Interest Income Deposits With Financial Institutions
InterestIncomeDepositsWithFinancialInstitutions
3000 USD
CY2012Q2 us-gaap Interest Income Deposits With Financial Institutions
InterestIncomeDepositsWithFinancialInstitutions
0 USD
us-gaap Interest Income Deposits With Financial Institutions
InterestIncomeDepositsWithFinancialInstitutions
0 USD
CY2013Q2 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
6395000 USD
us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
12593000 USD
CY2012Q2 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
6726000 USD
us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
13346000 USD
CY2013Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
6595000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
13193000 USD
CY2012Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
7126000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
14146000 USD
us-gaap Interest Paid
InterestPaid
2588000 USD
us-gaap Interest Paid
InterestPaid
3826000 USD
CY2013Q2 us-gaap Interest Receivable
InterestReceivable
3792000 USD
CY2012Q4 us-gaap Interest Receivable
InterestReceivable
4060000 USD
us-gaap Investment Income Amortization Of Discount
InvestmentIncomeAmortizationOfDiscount
207000 USD
us-gaap Investment Income Amortization Of Discount
InvestmentIncomeAmortizationOfDiscount
465000 USD
us-gaap Investment Income Amortization Of Premium
InvestmentIncomeAmortizationOfPremium
1009000 USD
us-gaap Investment Income Amortization Of Premium
InvestmentIncomeAmortizationOfPremium
649000 USD
CY2013Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
1383000 USD
CY2012Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
1480000 USD
CY2013Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
2708000 USD
us-gaap Labor And Related Expense
LaborAndRelatedExpense
5428000 USD
CY2012Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
2570000 USD
us-gaap Labor And Related Expense
LaborAndRelatedExpense
5192000 USD
CY2013Q2 us-gaap Liabilities
Liabilities
746045000 USD
CY2012Q4 us-gaap Liabilities
Liabilities
716636000 USD
CY2013Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
844262000 USD
CY2012Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
819966000 USD
us-gaap Life Insurance Corporate Or Bank Owned Change In Value
LifeInsuranceCorporateOrBankOwnedChangeInValue
347000 USD
us-gaap Life Insurance Corporate Or Bank Owned Change In Value
LifeInsuranceCorporateOrBankOwnedChangeInValue
367000 USD
CY2013Q2 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
5930000 USD
CY2012Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
5772000 USD
CY2013Q2 us-gaap Loans And Leases Receivable Consumer Installment And Revolving
LoansAndLeasesReceivableConsumerInstallmentAndRevolving
6049000 USD
CY2012Q4 us-gaap Loans And Leases Receivable Consumer Installment And Revolving
LoansAndLeasesReceivableConsumerInstallmentAndRevolving
6473000 USD
CY2013Q2 us-gaap Loans And Leases Receivable Consumer Real Estate
LoansAndLeasesReceivableConsumerRealEstate
146982000 USD
CY2012Q4 us-gaap Loans And Leases Receivable Consumer Real Estate
LoansAndLeasesReceivableConsumerRealEstate
143002000 USD
CY2013Q2 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
-410000 USD
CY2012Q4 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
-338000 USD
CY2013Q2 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
436290000 USD
CY2012Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
432728000 USD
us-gaap Loans And Leases Receivable Impaired Interest Lost On Nonaccrual Loans
LoansAndLeasesReceivableImpairedInterestLostOnNonaccrualLoans
317000 USD
CY2012 us-gaap Loans And Leases Receivable Impaired Interest Lost On Nonaccrual Loans
LoansAndLeasesReceivableImpairedInterestLostOnNonaccrualLoans
245000 USD
CY2013Q2 us-gaap Loans And Leases Receivable Impaired Nonperforming Nonaccrual Of Interest
LoansAndLeasesReceivableImpairedNonperformingNonaccrualOfInterest
3988000 USD
CY2012Q4 us-gaap Loans And Leases Receivable Impaired Nonperforming Nonaccrual Of Interest
LoansAndLeasesReceivableImpairedNonperformingNonaccrualOfInterest
2363000 USD
us-gaap Loans And Leases Receivable Impaired Troubled Debt Interest Income
LoansAndLeasesReceivableImpairedTroubledDebtInterestIncome
336000 USD
CY2012 us-gaap Loans And Leases Receivable Impaired Troubled Debt Interest Income
LoansAndLeasesReceivableImpairedTroubledDebtInterestIncome
279000 USD
CY2013Q2 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
436584000 USD
CY2012Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
432896000 USD
CY2013Q2 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
430654000 USD
CY2012Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
427124000 USD
CY2013Q2 us-gaap Loans And Leases Receivable Other
LoansAndLeasesReceivableOther
36437000 USD
CY2012Q4 us-gaap Loans And Leases Receivable Other
LoansAndLeasesReceivableOther
29192000 USD
CY2013Q2 us-gaap Loans Receivable Commercial Financial And Agricultural
LoansReceivableCommercialFinancialAndAgricultural
27620000 USD
CY2012Q4 us-gaap Loans Receivable Commercial Financial And Agricultural
LoansReceivableCommercialFinancialAndAgricultural
28714000 USD
CY2013Q2 us-gaap Loans Receivable Commercial Real Estate
LoansReceivableCommercialRealEstate
218895000 USD
CY2012Q4 us-gaap Loans Receivable Commercial Real Estate
LoansReceivableCommercialRealEstate
221338000 USD
CY2013Q2 us-gaap Loans Receivable Fair Value Disclosure
LoansReceivableFairValueDisclosure
425272000 USD
CY2012Q4 us-gaap Loans Receivable Fair Value Disclosure
LoansReceivableFairValueDisclosure
423873000 USD
CY2013Q2 us-gaap Loans Receivable Held For Sale Net
LoansReceivableHeldForSaleNet
307000 USD
CY2012Q4 us-gaap Loans Receivable Held For Sale Net
LoansReceivableHeldForSaleNet
4009000 USD
CY2013Q2 us-gaap Long Term Debt
LongTermDebt
42475000 USD
CY2012Q4 us-gaap Long Term Debt
LongTermDebt
44520000 USD
CY2013Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
43321000 USD
CY2012Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
47696000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
28248000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-21448000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-42299000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
18178000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
6023000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
4520000 USD
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
3872000 USD
us-gaap Net Income Loss
NetIncomeLoss
6398000 USD
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
2578000 USD
us-gaap Net Income Loss
NetIncomeLoss
5234000 USD
CY2013Q2 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
81938000 USD
CY2012Q4 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
76418000 USD
CY2013Q2 us-gaap Noninterest Expense
NoninterestExpense
5277000 USD
us-gaap Noninterest Expense
NoninterestExpense
10004000 USD
CY2012Q2 us-gaap Noninterest Expense
NoninterestExpense
5807000 USD
us-gaap Noninterest Expense
NoninterestExpense
10392000 USD
CY2013Q2 us-gaap Noninterest Income
NoninterestIncome
3765000 USD
us-gaap Noninterest Income
NoninterestIncome
5287000 USD
CY2012Q2 us-gaap Noninterest Income
NoninterestIncome
2193000 USD
us-gaap Noninterest Income
NoninterestIncome
3397000 USD
CY2013Q2 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
100000 USD
us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
245000 USD
CY2012Q2 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
74000 USD
us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
186000 USD
CY2013Q2 us-gaap Notes Receivable Net
NotesReceivableNet
436584000 USD
CY2012Q4 us-gaap Notes Receivable Net
NotesReceivableNet
432896000 USD
CY2013Q2 us-gaap Occupancy Net
OccupancyNet
424000 USD
us-gaap Occupancy Net
OccupancyNet
777000 USD
CY2012Q2 us-gaap Occupancy Net
OccupancyNet
329000 USD
us-gaap Occupancy Net
OccupancyNet
674000 USD
CY2013Q2 us-gaap Other Assets
OtherAssets
19247000 USD
CY2012Q4 us-gaap Other Assets
OtherAssets
2118000 USD
CY2013Q2 us-gaap Other Assets Held For Sale
OtherAssetsHeldForSale
515000 USD
CY2012Q4 us-gaap Other Assets Held For Sale
OtherAssetsHeldForSale
468000 USD
CY2013Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-12688000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-13875000 USD
CY2012Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
2693000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
4556000 USD
CY2013Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-8378000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-9174000 USD
CY2012Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
1782000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
3001000 USD
CY2013Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
2412000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
2680000 USD
CY2012Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
977000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
1007000 USD
CY2013Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-10276000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-11195000 USD
CY2012Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
3670000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
5563000 USD
CY2013Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
-4310000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
-4701000 USD
CY2012Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
911000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
1555000 USD
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
137000 USD
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
141000 USD
CY2013Q2 us-gaap Other Liabilities
OtherLiabilities
3916000 USD
CY2012Q4 us-gaap Other Liabilities
OtherLiabilities
699000 USD
CY2013Q2 us-gaap Other Noninterest Expense
OtherNoninterestExpense
750000 USD
us-gaap Other Noninterest Expense
OtherNoninterestExpense
1479000 USD
CY2012Q2 us-gaap Other Noninterest Expense
OtherNoninterestExpense
1087000 USD
us-gaap Other Noninterest Expense
OtherNoninterestExpense
1756000 USD
us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
18932000 USD
us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
14802000 USD
us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
3995000 USD
us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
4187000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
2404000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
2723000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
89847000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
16078000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1800000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3865000 USD
us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
2227000 USD
us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
206000 USD
CY2013Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
2.00
CY2012Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
2.00
CY2013Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2012Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2013Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q2 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
27811000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
27811000 USD
CY2012Q2 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
18197000 USD
CY2012Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2012Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
0 USD
CY2012Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
1002000 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Reclassifications</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The Corporation reclassified certain immaterial amounts in the consolidated statements of income. Such reclassifications have no effect on the Corporation&#39;s consolidated financial condition or net income.</p> <!--EndFragment--></div> </div>
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
32000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
5000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
5000000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
25762000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
14847000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
7000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
9000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
4855000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
8776000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
26908000 USD
us-gaap Proceeds From Sale Of Foreclosed Assets
ProceedsFromSaleOfForeclosedAssets
443000 USD
us-gaap Proceeds From Sale Of Foreclosed Assets
ProceedsFromSaleOfForeclosedAssets
247000 USD
us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
18860000 USD
us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
14285000 USD
us-gaap Proceeds From Sale Of Restricted Investments
ProceedsFromSaleOfRestrictedInvestments
1547000 USD
us-gaap Proceeds From Sale Of Restricted Investments
ProceedsFromSaleOfRestrictedInvestments
503000 USD
us-gaap Proceeds From Sale Of Treasury Stock
ProceedsFromSaleOfTreasuryStock
11000 USD
us-gaap Proceeds From Sale Of Treasury Stock
ProceedsFromSaleOfTreasuryStock
12000 USD
CY2013Q2 us-gaap Professional Fees
ProfessionalFees
125000 USD
us-gaap Professional Fees
ProfessionalFees
241000 USD
CY2012Q2 us-gaap Professional Fees
ProfessionalFees
170000 USD
us-gaap Professional Fees
ProfessionalFees
340000 USD
CY2013Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
20596000 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
19363000 USD
CY2013Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
58077000 USD
CY2013Q2 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
200000 USD
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
600000 USD
CY2012Q2 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
400000 USD
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
800000 USD
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
600000 USD
CY2012 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
1600000 USD
us-gaap Real Estate Investment Partnership Cost Of Sales
RealEstateInvestmentPartnershipCostOfSales
98000 USD
us-gaap Real Estate Investment Partnership Cost Of Sales
RealEstateInvestmentPartnershipCostOfSales
102000 USD
us-gaap Real Estate Investment Partnership Revenue
RealEstateInvestmentPartnershipRevenue
284000 USD
us-gaap Real Estate Investment Partnership Revenue
RealEstateInvestmentPartnershipRevenue
277000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
7045000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
18782000 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
54532000 USD
CY2013Q2 us-gaap Stockholders Equity
StockholdersEquity
98217000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
103330000 USD
CY2013Q2 us-gaap Security Owned And Pledged As Collateral Associated Liabilities Fair Value
SecurityOwnedAndPledgedAsCollateralAssociatedLiabilitiesFairValue
100557000 USD
CY2012Q4 us-gaap Security Owned And Pledged As Collateral Associated Liabilities Fair Value
SecurityOwnedAndPledgedAsCollateralAssociatedLiabilitiesFairValue
94101000 USD
CY2013Q2 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
533000 USD
CY2012Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
478000 USD
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
11404 shares
CY2013Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
59924000 USD
CY2012Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
55069000 USD
CY2013Q2 us-gaap Shortterm Debt Fair Value
ShorttermDebtFairValue
59924000 USD
CY2012Q4 us-gaap Shortterm Debt Fair Value
ShorttermDebtFairValue
55069000 USD
CY2012Q2 us-gaap Stockholders Equity
StockholdersEquity
98616000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
93092000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
500 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
787 shares
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
56000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
11000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
12000 USD
CY2013Q2 us-gaap Taxes Other
TaxesOther
206000 USD
us-gaap Taxes Other
TaxesOther
408000 USD
CY2012Q2 us-gaap Taxes Other
TaxesOther
191000 USD
us-gaap Taxes Other
TaxesOther
371000 USD
CY2013Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
236683 shares
CY2012Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
237183 shares
CY2013Q2 us-gaap Treasury Stock Value
TreasuryStockValue
5873000 USD
CY2012Q4 us-gaap Treasury Stock Value
TreasuryStockValue
5890000 USD
us-gaap Use Of Estimates
UseOfEstimates
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Use of Estimates</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The preparation of these consolidated financial statements, in conformity with accounting principles generally accepted in the United States of America, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of these consolidated financial statements and the reported amounts of income and expenses during the reporting periods. Actual results could significantly differ from those estimates.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> Material estimates that are particularly susceptible to significant changes include the assessment for impairment of certain investment securities, the allowance for loan losses, deferred tax assets and liabilities, impairment of goodwill and other intangible assets and foreclosed assets held for resale. Assumptions and factors used in the estimates are evaluated on an annual basis or whenever events or changes in circumstance indicate that the previous assumptions and factors have changed. The result of the analysis could result in adjustments to the estimates.</p> <!--EndFragment--></div> </div>

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