XML 89 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Share data, unless otherwise specified
1 Months Ended 11 Months Ended 12 Months Ended
Jan. 31, 2012
Dec. 31, 2012
Dec. 31, 2011
Non-interest expense      
Income before income tax expense $ 799 $ 307 $ 1,156
Successor Company [Member]
     
Interest income      
Loans   39,717  
Investment securities   3,717  
Federal funds sold and interest-earning deposits   85  
Total interest income   43,519  
Interest expense      
Non-maturity deposits   1,873  
Time deposits   3,213  
Short-term borrowings   19  
Long-term debt   1,065  
Total interest expense   6,170  
Net interest income   37,349  
Provision for loan losses   5,159  
Net interest income after provision for loan losses   32,190  
Non-interest income      
Mortgage banking income   3,164  
Government-guaranteed lending   3,061  
Service charges and fees on deposit accounts   1,937  
Earnings on bank-owned life insurance   760  
Gain (loss) on sale of available for sale securities   1,251  
Other   1,154  
Total non-interest income   11,327  
Non-interest expense      
Salaries and employee benefits   21,276  
Occupancy and equipment   4,920  
Data processing   2,972  
FDIC insurance premiums   926  
Foreclosed asset expenses   1,303  
Other loan related expense   1,524  
Professional services   4,691  
Advertising and business development   1,083  
Printing, postage, and supplies   786  
Other   3,729  
Total non-interest expense   43,210  
Income before income tax expense   307  
Income tax expense (benefit)   (3,486)  
Net income   3,793  
Effective dividend on preferred stock   1,346  
Net income available to common stockholders   2,447  
Net income per common share      
Basic (in dollars per share)   $ 0.07  
Diluted (in dollars per share)   $ 0.07  
Weighted average common shares outstanding      
Basic (in shares)   35,724,513  
Diluted (in shares)   35,796,731  
Predecessor Company [Member]
     
Interest income      
Loans 3,807   13,362
Investment securities 395   870
Federal funds sold and interest-earning deposits 4   102
Total interest income 4,206   14,334
Interest expense      
Non-maturity deposits 205   903
Time deposits 325   1,132
Short-term borrowings 0   18
Long-term debt 103   725
Total interest expense 633   2,778
Net interest income 3,573   11,556
Provision for loan losses 195   880
Net interest income after provision for loan losses 3,378   10,676
Non-interest income      
Mortgage banking income 225   440
Government-guaranteed lending 98   476
Service charges and fees on deposit accounts 194   516
Earnings on bank-owned life insurance 70   103
Gain (loss) on sale of available for sale securities 0   (38)
Other 70   219
Total non-interest income 657   1,716
Non-interest expense      
Salaries and employee benefits 1,737   5,786
Occupancy and equipment 396   953
Data processing 271   1,000
FDIC insurance premiums 141   373
Foreclosed asset expenses 11   (191)
Other loan related expense 162   337
Professional services 144   867
Advertising and business development 73   723
Printing, postage, and supplies 47   210
Other 254   1,178
Total non-interest expense 3,236   11,236
Income before income tax expense 799   1,156
Income tax expense (benefit) 270   188
Net income 529 3,793 968
Effective dividend on preferred stock 122   182
Net income available to common stockholders $ 407   $ 786
Net income per common share      
Basic (in dollars per share) $ 0.01   $ 0.07
Diluted (in dollars per share) $ 0.01   $ 0.07
Weighted average common shares outstanding      
Basic (in shares) 35,511,770   10,858,223
Diluted (in shares) 35,534,050   10,916,115