In millions, except per share items | Dec-31-12 | Dec-31-11 | Dec-31-10 | Dec-31-09 | Dec-31-08 | Dec-31-07 | Dec-31-06 | Dec-31-05 |
| 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
Interest income: |
Interest income on loans | 21.8 | 23.9 | 26.2 | 20.0 | 22.9 | 27.7 | | |
Interest income on investments | 2.8 | 3.7 | 4.8 | 5.3 | 4.5 | | | |
Interest income on repurchase agreements | | | 0.0 | | | | | |
| 25.3 | 28.2 | 31.6 | 25.9 | 28.8 | 27.7 | | |
Interest expense: |
Interest on deposits | 2.5 | 3.8 | 5.3 | 5.4 | 8.3 | 12.2 | | |
Interest on borrowings | | | | 2.1 | 2.1 | | | |
| 3.2 | 4.7 | 7.3 | 7.5 | 10.4 | 14.3 | | |
Net interest income | 22.1 | 23.4 | 24.3 | 18.4 | 18.5 | 18.7 | | |
Provision for loan losses | 4.3 | 2.9 | 1.6 | 1.6 | 0.4 | 0.1 | | |
Net interest income after provision for loan losses | 17.8 | 20.5 | 22.7 | 16.9 | 18.1 | 18.5 | | |
Deposit and loan fees | 3.2 | 2.9 | 2.9 | 2.4 | | | | |
Gain on sale of investments, net | 1.2 | 1.8 | -0.1 | 0.2 | | | | |
Other non-interest income | 6.2 | 5.0 | 13.7 | 7.4 | 8.2 | 8.2 | | |
Total non-interest income | 10.5 | 9.7 | 16.4 | 9.9 | 8.2 | 8.2 | | |
Non-interest expenses | 23.5 | 25.1 | 26.5 | 22.5 | 21.7 | 25.5 | | |
Pre-tax income before non-recurring items | 3.9 | 5.1 | 12.6 | 4.3 | 4.6 | 5.5 | 0.4 | 4.8 |
Non-recurring items | | | | | | | -1.1 | |
Pre-tax income | 3.9 | 5.1 | 12.6 | 4.3 | 4.6 | 5.5 | 1.5 | 4.8 |
Income taxes | 0.0 | 1.3 | 3.8 | 0.3 | 0.8 | 1.0 | -0.3 | 0.7 |
Tax rate | 0.0% | 25.5% | 30.1% | 6.9% | 17.3% | 18.8% | | 15.2% |
Net income | 3.9 | 3.8 | 8.8 | 4.0 | 3.8 | 4.4 | 1.9 | 4.1 |
Net margin | | 12.6% | 22.5% | 15.1% | 14.6% | 16.6% | 2.6% | 5.9% |
|
Basic EPS | $1.13 | $1.11 | $2.58 | $1.28 | $1.22 | $1.39 | $0.58 | $1.30 |
Diluted EPS | $1.13 | $1.11 | $2.58 | $1.28 | $1.22 | $1.39 | $0.58 | $1.30 |
|
Shares outstanding (basic) | 3.4 | 3.4 | 3.4 | 3.2 | 3.1 | 3.2 | 3.2 | 3.2 |
Shares outstanding (diluted) | 3.4 | 3.4 | 3.4 | 3.2 | 3.1 | 3.2 | 3.2 | 3.2 |
|
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |