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Subsequent Events
9 Months Ended
Sep. 30, 2013
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events
On October 1, 2013, the Company acquired certain assets and assumed certain liabilities of the mortgage banking business of Surety of Sherman Oaks, California. Surety has five offices located in southern California, which originated approximately $1.0 billion in the twelve months prior to the acquisition date.

On October 18, 2013, the Company completed its previously announced acquisition of Diamond. Diamond is the parent company of Diamond Bank, FSB, which operated four banking locations in Chicago, Schaumburg, Elmhurst, and Northbrook, Illinois. Through this transaction, subject to final adjustments, the Company acquired approximately $169 million in assets and approximately $140 million in deposits. The aggregate purchase price was approximately $3 million. In the merger, outstanding shares of Diamond common stock were converted into cash. Following the acquisition, Diamond was merged into the Company's wholly-owned subsidiary, North Shore Community Bank & Trust Company ("North Shore").

On October 25, 2013, the Company entered into a Sixth Amendment Agreement (the “Sixth Amendment”) to the Agreement dated as of October 30, 2009 among the Company and unaffiliated banks. The Sixth Amendment extended the maturity date of the Agreement to November 24, 2013.

On November 7, 2013, the Company entered into a Seventh Amendment Agreement, (the "Seventh Amendment") to the Agreement. The revolving commitment under the Agreement remained at a total revolving commitment of all lenders under the Agreement of $100.0 million and matures on November 6, 2014. Pursuant to the Seventh Amendment, borrowings under the Agreement that are considered “Base Rate Loans” will bear interest at a rate equal to the greater of (1) 350 basis points and (2) for the applicable period, the highest of (a) the federal funds rate plus 100 basis points, (b) the lender’s prime rate plus 50 basis points, and (c) the Eurodollar Rate (as defined below) that would be applicable for an interest period of one month plus 150 basis points. Borrowings under the Agreement that are considered “Eurodollar Rate Loans” will bear interest at a rate equal to the higher of (1) the LIBOR rate for the applicable period plus 250 basis points (the “Eurodollar Rate”) and (2) 350 basis points. A commitment fee is payable quarterly equal to 0.375% of the actual daily amount by which the lenders’ commitment under the revolving note exceeded the amount outstanding under such facility.

As of the date hereof, the Company has no outstanding balance under the revolving credit facility. Additionally on November 7, 2013 the Company repaid and terminated its $1.0 million term facility with an unaffiliated bank and repaid the remaining $10.0 million outstanding under its subordinated note agreement.