| Component: (Network and Table) | |
|---|---|
| Network | 0004 - Statement - Consolidated Statements of Operations (http://ffsmortgages.com/role/ConsolidatedStatementsOfOperations) |
| Table | (Implied) |
| Reporting Entity [Axis] | 0001434743 (http://www.sec.gov/CIK) |
| Income Statement [Abstract] | Period [Axis] | |
|---|---|---|
2011-01-01 - 2011-12-31 | 2010-01-01 - 2010-12-31 | |
Income Statement [Abstract] | ||
Interest income | ||
Loans and fees on loans | 23,368,000 | 27,588,000 |
Investment securities | 4,500,000 | 2,884,000 |
Due from Federal Reserve Bank | 84,000 | 208,000 |
Interest-earning deposits with banks | 76,000 | 56,000 |
Total interest income | 28,028,000 | 30,736,000 |
Interest expense | ||
Deposits | 7,487,000 | 9,868,000 |
Federal funds purchased and securities sold under agreements to repurchase | 6,000 | 8,000 |
Other borrowings | 18,000 | 415,000 |
Total interest expense | 7,511,000 | 10,291,000 |
Net interest income | 20,517,000 | 20,445,000 |
Provision for loan loss | 15,815,000 | 12,462,000 |
Net interest income after provision for loan losses | 4,702,000 | 7,983,000 |
Noninterest income | ||
Service charges on deposit accounts | 1,484,000 | 1,427,000 |
Mortgage services revenue | 1,980,000 | 2,365,000 |
Other service charges and fees | 614,000 | 498,000 |
Increase in cash surrender value of life insurance | 435,000 | 462,000 |
Gains on sales of investment securities, net | 2,458,000 | 1,720,000 |
USDA/SBA loan sale and servicing revenue | 629,000 | 875,000 |
Other income | 1,062,000 | 903,000 |
Total noninterest income | 8,662,000 | 8,250,000 |
Noninterest expense | ||
Salaries and employee benefits | 9,124,000 | 11,065,000 |
Occupancy | 1,280,000 | 1,914,000 |
Equipment | 934,000 | 1,216,000 |
Advertising | 242,000 | 488,000 |
Data processing and telecommunications | 2,112,000 | 2,129,000 |
Deposit insurance premiums | 2,191,000 | 2,222,000 |
Professional fees | 383,000 | 876,000 |
Printing and supplies | 151,000 | 257,000 |
Foreclosed real estate | 4,497,000 | 2,313,000 |
Loss on sale of repossessed assets | 2,000 | 9,000 |
Debt extinguishment expense | 0 | 188,000 |
Dues and subscriptions | 180,000 | 188,000 |
Postage | 187,000 | 232,000 |
Loan legal | 434,000 | 313,000 |
Loan appraisal | 334,000 | 211,000 |
Other loan and real estate related expense | 1,179,000 | 9,000 |
Corporate insurance | 198,000 | 94,000 |
Other | 1,027,000 | 1,333,000 |
Total noninterest expense | 24,455,000 | 25,057,000 |
Loss before income taxes | (11,091,000) | (8,824,000) |
Income tax expense (benefit) | 9,388,000 | (3,521,000) |
Net loss | (20,479,000) | (5,303,000) |
Accretion of preferred stock to redemption value | 203,000 | 203,000 |
Dividends on preferred stock | 818,000 | 821,000 |
Net loss available to common stockholders | (21,500,000) | (6,327,000) |
Basic net loss per share | (4.18) | (1.25) |
Diluted net loss per share | (4.18) | (1.25) |
Basic weighted average shares outstanding | 5,142,174 | 5,077,111 |
Diluted weighted average shares outstanding | 5,142,174 | 5,077,111 |