Condensed Financial Statements of Parent Company (Tables)

12 Months Ended

Dec. 31, 2013

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Statements of Parent Company

Balance Sheets

	December 31,
(in thousands, except share and per share amounts)	2013		2012
Assets
Cash	$	10,308	$	11,765
Investment in subsidiaries:
Banking subsidiary	235,329		239,305
Nonbanking subsidiaries	800		800
Other assets	40		54
Total assets	$	246,477	$	251,924
Liabilities
Long-term debt	$	15,800	$	15,800
Other liabilities	494		737
Total liabilities	16,294		16,537
Stockholders' Equity
Total stockholders' equity	230,183		235,387
Total liabilities and stockholders' equity	$	246,477	$	251,924

Statements of Operations

	Years Ended December 31,
(in thousands)	2013			2012			2011
Income
Interest income	$	62		$	95		$	122
Debt prepayment charge	—			(140		)	(75		)
	62			(45		)	47
Expenses
Interest expense	1,227			1,949			2,611
Other	556			1,441			2,293
	1,783			3,390			4,904
Loss before income tax benefit and equity in undistributed net income of subsidiaries	(1,721		)	(3,435		)	(4,857		)
Income tax benefit	595			1,168			1,651
	(1,126		)	(2,267		)	(3,206		)
Equity in undistributed net income of bank subsidiary	18,386			13,161			3,495
Net income	$	17,260		$	10,894		$	289

Statements of Cash Flows

	Years Ended December 31,
(in thousands)	2013			2012			2011
Operating Activities
Net income	$	17,260		$	10,894		$	289
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Amortization of financing costs	2			29			8
Stock-based compensation	948			1,082			1,250
Debt prepayment charge	—			140			75
(Decrease) increase in other liabilities	(243		)	217			(108		)
(Increase) decrease in other assets	(11		)	2,625			1,990
Equity in undistributed net income of bank subsidiary	(18,386		)	(13,161		)	(3,495		)
Net cash (used by) provided by operating activities	(430		)	1,826			9
Investing Activities
Investment in bank subsidiary	(1,369		)	(1,126		)	(5,052		)
Net cash used by investing activities	(1,369		)	(1,126		)	(5,052		)
Financing Activities
Proceeds from common stock options exercised	304			—			—
Proceeds from issuance of common stock under stock purchase plan	67			44			3,802
Repayment of long-term debt	—			(8,540		)	(5,275		)
Tax benefit on exercise of stock options	51			—			—
Cash dividends on preferred stock	(80		)	(80		)	(80		)
Net cash provided by (used by) financing activities	342			(8,576		)	(1,553		)
Decrease in cash and cash equivalents	(1,457		)	(7,876		)	(6,596		)
Cash and cash equivalents at beginning of the year	11,765			19,641			26,237
Cash and cash equivalents at end of year	$	10,308		$	11,765		$	19,641