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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended
Sep. 30, 2012
Successor [Member]
Sep. 30, 2012
Successor [Member]
Sep. 30, 2011
Predecessor [Member]
Sep. 30, 2011
Predecessor [Member]
INTEREST INCOME        
Loans $ 7,953 $ 24,137 $ 9,030 $ 27,130
Investment securities available for sale 893 2,787 1,836 5,325
Federal funds sold and interest-earning deposits 10 48 18 75
TOTAL INTEREST INCOME 8,856 26,972 10,884 32,530
INTEREST EXPENSE        
Deposits 992 3,242 2,719 9,199
Short-term borrowings 0 2 21 58
Long-term debt 250 814 1,387 4,135
TOTAL INTEREST EXPENSE 1,242 4,058 4,127 13,392
NET INTEREST INCOME 7,614 22,914 6,757 19,138
PROVISION FOR LOAN LOSSES 958 3,730 4,452 14,511
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 6,656 19,184 2,305 4,627
NON-INTEREST INCOME        
Mortgage banking income 1,066 2,411 475 900
Service charges and fees on deposit accounts 425 1,315 470 1,374
Earnings on bank owned life insurance 215 622 215 644
Gain (loss) on sale of available for sale securities 483 648 9 299
Other 133 658 275 345
TOTAL NON-INTEREST INCOME 2,322 5,654 1,444 3,562
NON-INTEREST EXPENSE        
Salaries and employee benefits 4,263 12,099 3,140 9,624
Occupancy and equipment 1,159 3,251 968 2,959
Data processing 546 1,568 447 1,317
FDIC deposit insurance premium 159 678 292 1,117
Professional services 1,405 3,193 646 2,042
Net loss on foreclosed assets 191 196 291 1,643
Other loan related expense 411 1,272 378 1,165
Other 704 2,135 591 1,817
TOTAL NON-INTEREST EXPENSE 8,838 24,392 6,753 21,684
INCOME (LOSS) BEFORE INCOME TAXES 140 446 (3,004) (13,495)
INCOME TAXES 94 109 0 0
NET INCOME (LOSS) 46 337 (3,004) (13,495)
Effective dividend on preferred stock (Note I) 367 1,124 442 1,306
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (321) $ (787) $ (3,446) $ (14,801)
NET LOSS PER COMMON SHARE        
Basic (in dollars per share) $ (0.01) $ (0.03) $ (0.36) $ (1.54)
Diluted (in dollars per share) $ (0.01) $ (0.03) $ (0.36) $ (1.54)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (Note D)        
Basic (in shares) 28,361,357 28,361,159 9,587,324 9,585,056
Diluted (in shares) 28,361,357 28,361,159 9,587,324 9,585,056