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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities:      
Net income $ 6,477 $ 3,279 $ 2,588
Adjustments to reconcile net income to net cash provided by operating activities:      
Net increase in deferred loan fees 266 107 174
Depreciation 1,212 1,262 1,367
Accretion (715) (983) (1,796)
Amortization 3,590 2,014 414
Stock-based compensation 196 239 284
Tax benefit from exercise of stock options (116) (28) (7)
Provision for credit losses 1,050 3,800 10,514
Net other than temporary impairment losses on investment securities 31 1,587 300
Net realized (gains) losses on sales and calls of available-for-sale investment securies (298) 191 (942)
Net realized losses on sales of held-to-maturity investment securities 0 0 176
Net loss on sale and disposal of equipment 5 10 55
Net gain on sale of other real estate owned (615) (66) 0
Write down of other real estate owned and other property 0 638 356
Increase in bank owned life insurance, net of expenses (204) (392) (190)
Net gain on bank owned life insurance (85) 0 0
Net (increase) decrease in accrued interest receivable and other assets (700) 3,281 (1,106)
Net decrease (increase) in prepaid FDIC Assessments 705 981 (3,740)
Net increase (decrease) in accrued interest payable and other liabilities 8,515 594 (2,259)
Provision (benefit) for deferred income taxes 1,270 (2,337) 788
Net cash provided by operating activities 20,584 14,177 6,976
Cash Flows From Investing Activities:      
Purchases of available-for-sale investment securities (214,569) (39,985) (82,178)
Purchases of held-to-maturity investment securities 0 0 (410)
Proceeds from sales or calls of available-for-sale investment securities 44,700 19,594 40,407
Proceeds from calls of held-to-maturity investment securities 0 0 1,474
Proceeds from maturity and principal repayment of available-for-sale investment securities 35,951 28,058 32,877
Proceeds from principal repayments of held-to-maturity investment securities 0 0 2,793
Net decrease in loans 2,815 21,214 14,379
Proceeds from sale of other real estate owned 2,472 4,203 0
Purchases of premises and equipment (1,246) (595) (991)
FHLB stock redeemed 157 90 0
Proceeds from bank owned life insurance 146 0 430
Proceeds from sale of premises and equipment 0 5 0
Net cash (used in) provided by investing activities (129,574) 32,584 8,781
Cash Flows From Financing Activities:      
Net increase in demand, interest bearing and savings deposits 87,928 33,877 16,415
Net decrease in time deposits (25,437) (23,548) (11,306)
Proceeds from issuance of Series A preferred stock and warrants 0 0 7,000
Net proceeds from issuance of Series B preferred stock 0 0 1,317
Net proceeds from issuance of common stock 0 0 6,441
Proceeds from long-term borrowings from Federal Home Loan Bank 0 0 10,000
Repayments of long-term borrowings to Federal Home Loan Bank (10,000) (5,000) (10,000)
Repayments of borrowings from other financial institutions 0 0 (6,367)
Proceeds from exercise of stock options 680 550 175
Repurchase of common stock warrant (185) 0 0
Tax benefit from exercise of stock options 116 28 7
Cash dividend payments on preferred stock (307) (349) (277)
Net cash provided by financing activities 52,795 5,558 13,405
(Decrease) increase in cash and cash equivalents (56,195) 52,319 29,162
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 100,999 48,680 19,518
CASH AND CASH EQUIVALENTS AT END OF PERIOD 44,804 100,999 48,680
Cash paid during the year for:      
Interest 3,186 4,485 6,983
Income taxes 826 301 690
Non-cash investing and financing activities:      
Redemption of preferred stock Series A and issuance of preferred stock Series C 7,000 0 0
Transfer of loans to other real estate owned 244 3,467 3,921
Assumption of other real estate owned liabilities 288 0 0
Transfer of loans to other assets 209 0 0
Accrued preferred stock dividends $ 88 $ 45 $ 44