Condensed Financial Statements of Parent Company (Tables)

12 Months Ended

Dec. 31, 2012

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Statements of Parent Company

Balance Sheets

	December 31,
(in thousands)	2012		2011
Assets
Cash	$	11,765	$	19,641
Investment in subsidiaries:
Banking subsidiary	239,305		221,578
Nonbanking subsidiaries	800		1,200
Other assets	54		2,321
Total assets	$	251,924	$	244,740
Liabilities
Long-term debt	$	15,800	$	24,200
Other liabilities	737		520
Total liabilities	16,537		24,720
Stockholders' Equity
Preferred stock - Series A noncumulative; $10.00 par value; $1,000,000 liquidation preference;
(1,000,000 shares authorized; 40,000 shares issued and outstanding)	400		400
Common stock - $1.00 par value; 25,000,000 shares authorized;
(issued and outstanding shares 2012: 14,131,263;  2011: 14,125,346)	14,131		14,125
Surplus	157,305		156,184
Retained earnings	56,311		45,497
Accumulated other comprehensive income	7,240		3,814
Total stockholders' equity	235,387		220,020
Total liabilities and stockholders' equity	$	251,924	$	244,740

Statements of Operations

	Years Ended December 31,
(in thousands)	2012			2011			2010
Income
Dividends from bank subsidiary	$	—		$	—		$	—
Interest income	95			122			124
Debt prepayment charge	(140		)	(75		)	—
	(45		)	47			124
Expenses
Interest expense	1,949			2,611			2,645
Other	1,441			2,293			1,149
	3,390			4,904			3,794
Loss before income tax benefit and equity in undistributed net income of subsidiaries	(3,435		)	(4,857		)	(3,670		)
Income tax benefit	1,168			1,651			1,248
	(2,267		)	(3,206		)	(2,422		)
Equity in undistributed net income (loss) of bank subsidiary	13,161			3,495			(1,915		)
Net income (loss)	$	10,894		$	289		$	(4,337	)

Statements of Cash Flows

	Years Ended December 31,
(in thousands)	2012			2011			2010
Operating Activities
Net income (loss)	$	10,894		$	289		$	(4,337	)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Amortization of financing costs	29			8			8
Stock-based compensation	1,082			1,250			1,244
Debt prepayment charge	140			75			—
Increase (decrease) in other liabilities	217			(108		)	(4,742		)
Decrease in other assets	2,625			1,990			610
Equity in undistributed net (income) loss of bank subsidiary	(13,161		)	(3,495		)	1,915
Net cash provided by (used in) operating activities	1,826			9			(5,302		)
Investing Activities
Investment in bank subsidiary	(1,126		)	(5,052		)	(4,478		)
Net cash used by investing activities	(1,126		)	(5,052		)	(4,478		)
Financing Activities
Proceeds from common stock options exercised	—			—			78
Proceeds from issuance of common stock under stock purchase plan	44			3,802			3,156
Repayment of long-term debt	(8,540		)	(5,275		)	—
Cash dividends on preferred stock	(80		)	(80		)	(80		)
Net cash (used in) provided by financing activities	(8,576		)	(1,553		)	3,154
Decrease in cash and cash equivalents	(7,876		)	(6,596		)	(6,626		)
Cash and cash equivalents at beginning of the year	19,641			26,237			32,863
Cash and cash equivalents at end of year	$	11,765		$	19,641		$	26,237