PINX:JFBC Jeffersonville Bancorp NY Quarterly Report 10-Q Filing - 6/30/2012

Effective Date 6/30/2012

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 10-Q

 

xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarter Ended June 30, 2012

OR

 

¨TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _____ to _____

 

Commission file number: 0-19212

 

JEFFERSONVILLE BANCORP

(Exact name of registrant as specified in its charter)

 

New York   22-2385448
(State or other jurisdiction of incorporation or organization)   (I.R.S. Employer Identification No.)

 

4866 State Rte. 52, Jeffersonville, New York   12748
(Address of principal executive offices)   (Zip Code)

 

(845) 482-4000

(Registrant’s telephone number, including area code)

 

Securities registered pursuant to Section 12(b) of the Act:

Title of class   Name of each exchange on which registered
Common Stock, par value $0.50 per share   The NASDAQ Capital Market

Securities registered pursuant to Section 12(g) of the Act:

None

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes      x      No     ¨

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes     x     No     ¨

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ¨        Accelerated filer     ¨ Non-accelerated filer       ¨       Smaller reporting company     x

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes     ¨     No     x

 

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

 

Class   Outstanding at August 13, 2012
Common Stock, $0.50 par value per share   4,234,505 shares

 

 
 

 

INDEX TO FORM 10-Q

 

      Page
       
PART 1   Financial Information  
       
  Item 1. Financial Statements  
       
    Consolidated Interim Financial Statements (Unaudited)  
       
    Consolidated Balance Sheets at June 30, 2012 and December 31, 2011 3
       
    Consolidated Statements of Income for the three months ended June 30, 2012 and 2011 4
       
    Consolidated Statements of Other Comprehensive Income for the three months ended June 30, 2012 and 2011 5
       
    Consolidated Statements of Income for the six months ended June 30, 2012 and 2011 6
       
    Consolidated Statements of Other Comprehensive Income for the six months ended June 30, 2012 and 2011 7
       
    Consolidated Statements of Cash Flows for the six months ended June 30, 2012 and 2011 8
       
    Notes to Unaudited Consolidated Interim Financial Statements 9
       
  Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 23
       
  Item 3. Quantitative and Qualitative Disclosures about Market Risk 31
       
  Item 4T. Controls and Procedures 31
       
PART 2   Other Information  
       
  Item 1. Legal Proceedings 32
       
  Item 1A. Risk Factors 32
       
  Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32
       
  Item 3. Defaults Upon Senior Securities 32
       
  Item 4. Mine Safety Disclosure 32
       
  Item 5. Other Information 32
       
  Item 6. Exhibits 32
       
    Signatures 33

 

 
 

 

Jeffersonville Bancorp and Subsidiary

Consolidated Balance Sheets

(In thousands, except share and per share data)

 

   As of June 30,   As of December 31, 
   2012   2011 
   (Unaudited)   (Unaudited) 
ASSETS          
Cash and cash equivalents  $37,773   $11,776 
Securities available for sale, at fair value   114,316    107,428 
Securities held to maturity, estimated fair value of $4,808 at June 30, 2012 and $6,989 at December 31, 2011   4,471    6,613 
Loans, net of allowance for loan losses of $5,154 at June 30, 2012 and $4,712 at December 31, 2011   262,520    271,926 
Accrued interest receivable   1,746    1,797 
Bank-owned life insurance   14,905    15,342 
Foreclosed real estate   1,874    2,954 
Premises and equipment, net   5,306    5,500 
Restricted investments   2,159    2,420 
Other assets   6,507    7,756 
Total Assets  $451,577   $433,512 
           
LIABILITIES AND STOCKHOLDERS’ EQUITY          
Liabilities      

PINX:JFBC Jeffersonville Bancorp NY Quarterly Report 10-Q Filling

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