Parent Company Financial Information

12 Months Ended

Dec. 31, 2011

Parent Company Financial Information [Abstract]

Parent Company Financial Information

 (22)  Parent Company Financial Information

This information should be read in conjunction with the other notes to the consolidated financial statements.  The following presents summary balance sheets and summary statements of operations and cash flows information for the years ended December 31:

Balance Sheets	2011		2010
Assets
Cash	$	5,688	$	1,132
Investment in wholly owned subsidiary		82,352		78,572
Other assets		2		3
Total assets	$	88,042	$	79,707
Liabilities and stockholders' equity
Other liabilities		340		111
Stockholders' equity		87,702		79,596
Total liabilities and stockholders' equity	$	88,042	$	79,707

Statements of Operations	2011			2010			2009
Dividends to subsidiary	$	-		$	-		$	(16,000	)
Other operating expenses		(101	)		(121	)		(138	)
Income tax benefit		41			50			57
Loss before undistributed earnings of subsidiary		(60	)		(71	)		(16,081	)
Equity in undistributed earnings of subsidiary		2,724			2,736			15,027
Net income (loss)	$	2,664		$	2,665		$	(1,054	)

Statements of Cash Flows	2011			2010			2009
Net income (loss)	$	2,664		$	2,665		$	(1,054	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Decrease in other assets		2			2			2
Increase in other liabilities		228			-			111
Equity in undistributed earnings of subsidiary		(2,724	)		(2,736	)		(15,027	)
Net cash provided by (used in) operating activities		170			(69	)		(15,968	)
Cash flows from financing activities:
Issuance of preferred stock		22,847			-			16,726
Redemption of preferred stock		(17,390	)		-			-
Redemption of common stock warrants		(375	)		-			-
Issuance of common stock warrants		-			-			664
Dividend on preferred stock		(953	)		(870	)		(696	)
Common stock issued and stock based compensation		257			412			561
Cash in lieu of fractional shares		-			-			(5	)
Net cash provided by (used in) financing activities		4,386			(458	)		17,250
Net change in cash		4,556			(527	)		1,282
Cash at beginning of year		1,132			1,659			377
Cash at end of year	$	5,688		$	1,132		$	1,659