v2.3.0.9
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (USD $)
In Thousands, except Per Share data
3 Months Ended 9 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2011
Dec. 31, 2010
Interest and Dividend Income:        
Loans $ 1,762 $ 1,719 $ 5,173 $ 4,884
Securities:        
Taxable 299 378 1,020 1,249
Tax-exempt 33 29 95 89
Other interest income 15 10 33 19
Dividends on FRB and FHLB stocks 4 3 10 8
Total Interest and Dividend Income 2,113 2,139 6,331 6,249
Interest Expense:        
Deposits 342 578 1,171 1,789
Other borrowings 24 26 76 80
Total Interest Expense 366 604 1,247 1,869
Net Interest Income 1,747 1,535 5,084 4,380
Provision for Loan Losses 150 75 555 165
Net Interest Income after Provision for Loan Losses 1,597 1,460 4,529 4,215
Non-interest income:        
Charges and fees on deposit accounts 263 239 753 728
Charges and other fees on loans 117 107 338 265
Net gain on sale of loans 192 207 630 548
Net gain (loss) on sale of foreclosed property (6) 0 (11) 15
Net gain on sale of equipment 0 0 0 4
Other 143 142 438 409
Total Non-Interest Income 709 695 2,148 1,969
Non-interest expense:        
Compensation and employee benefits 751 680 2,282 2,218
Occupancy and equipment 195 198 563 549
Data processing and telecommunications 118 114 361 317
Audit, legal and other professional 68 62 188 204
Advertising 66 64 213 198
FDIC insurance 11 55 78 159
Foreclosed property expense 1 7 19 11
Other 185 177 532 504
Total Non-Interest Expense 1,395 1,357 4,236 4,160
Income before income taxes 911 798 2,441 2,024
Provision for income taxes 336 275 893 681
Net Income 575 523 1,548 1,343
Preferred stock dividends 12 0 17  
Net income available to common stockholders 563 523 1,531 1,343
Earnings Per Common Share-Basic (in dollars per share) $ 1.37 $ 1.27 $ 3.73 $ 3.25
Earnings Per Common Share-Diluted (in dollars per share) $ 1.32 $ 1.22 $ 3.58 $ 3.13
Comprehensive Income:        
Net income available to common stockholders 563 523 1,531 1,343
Other comprehensive income, net of tax:        
Change in unrealized appreciation on securities available for sale, net of tax of $(61) and $(127) for the three months ended December 30, 2011 and 2010, respectively and $(5) and $(67) for the nine months ended December 30, 2011 and 2010, respectively (145) (201) (57) (106)
Total comprehensive income $ 418 $ 322 $ 1,474 $ 1,237