MERGERS AND ACQUISITIONS (Tables)

6 Months Ended

Jun. 30, 2013

Jun. 30, 2012

Business Combinations [Abstract]

Unaudited Condensed Balance Sheet [Table Text Block]

The following table presents the ECB assets acquired, liabilities assumed and other equity interests as of April 1, 2013 as well as the calculation of the transaction purchase price and gain on acquisition. The Company has a one-year measurement period from the acquisition date to finalize the recorded fair values of net assets acquired. Therefore, the acquisition gain may change if initial fair value estimates are revised within the measurement period.

	As Reported by ECB at April 1, 2013		Initial Fair Value Adjustments				As Reported by the Company at April 1, 2013
Assets:
Cash and cash equivalents	$	24,008	$	—			$	24,008
Investment securities available for sale	289,058		301			(a)	289,359
Loans held for sale	3,857		9,790			(b)	13,647
Loans, net	483,474		(30,420		)	(c)	453,054
Federal Home Loan Bank stock, at cost	3,150		—				3,150
Premises and equipment, net	25,633		(1,177		)	(d)	24,456
Bank-owned life insurance	12,249		—				12,249
Foreclosed assets	7,090		(717		)	(e)	6,373
Deferred tax asset, net	6,986		9,082			(f)	16,068
Other intangible assets, net	—		4,307			(g)	4,307
Other assets	10,423		(665		)	(h)	9,758
Total assets	865,928		(9,499		)		856,429
Liabilities:
Deposits	$	731,926	$	4,188		(i)	$	736,114
Short-term borrowings	34,284		—				34,284
Long-term debt	16,000		460			(j)	16,460
Other liabilities	2,867		148			(k)	3,015
Total liabilities	785,077		4,796				789,873
Net assets acquired	80,851		(14,294		)		66,557
Other equity interests:
Preferred stock	17,660		(107		)	(l)	17,553
Common stock warrant	878		(745		)	(l)	133
Total other equity interests	18,538		(852		)		17,686
Gain on acquisition							8,241
Purchase price							$	40,630

Explanation of fair value adjustments

(a) Adjustment reflects opening fair value of securities portfolio, which was established as the new book basis of the portfolio.

(b) Adjustment reflect the reclassification of the fair value of certain loans identified by management as being held for sale at acquisition.

(c) Adjustment reflects the estimated lifetime credit losses on the loan portfolio as well as the present value of the differences between contractual interest rates and market interest rates as well as a reclassification of certain loans that were identified as held for sale at acquisition.

(d) Adjustment reflects fair value adjustments on certain acquired branch offices as well as certain software and computer equipment.

(e) Adjustment reflects the write down of certain foreclosed assets based on current estimates of property values given current market conditions and additional discounts based on the Company's planned disposition strategy.

(f) Adjustment reflects the tax impact of acquisition accounting fair value adjustments.

(g) Adjustment reflects the fair value of the acquired core deposit intangible.

(h) Adjustment reflects the impact of fair value adjustments on other assets, which include the write down of certain unusable prepaid expenses and the elimination of accrued interest on purchased credit-impaired loans.

(i) Adjustment reflects the fair value premium on time deposits, which was calculated by discounting future contractual interest payments at a current market interest rate.

(j) Adjustment reflects the fair value premium on FHLB advances, which was calculated by discounting future contractual interest payments at a current market interest rate. This fair value premium is also consistent with the prepayment penalty the FHLB would charge to terminate the advance.

(k) Adjustment reflects the impact of fair value adjustments on other liabilities, which primarily includes the accrual of a preferred stock dividend at acquisition.

(l) Amount reflects the adjustment to record other equity interests at fair value. The fair value of preferred stock issued to Treasury was estimated using by discounting future contractual dividend payments at a current market interest rate for preferred stocks of issuers with similar risk. The assumed liquidation date of the preferred stock was February 15, 2014, which is the date the dividend resets from 5 to 9 percent. The fair value of the common stock warrant issued to Treasury was estimated using a Black Scholes option pricing model assuming a warrant life through the dividend reset date.

Business Acquisition, Pro Forma Information [Table Text Block]

The pro forma financial information is not indicative of the results of operations that would have occurred had the transaction been effected on the assumed date. The results of operations of ECB are included in the statement of operations for the Company beginning on the acquisition date of April 1, 2013. The portion of the results of operations relating to ECB are not disclosed as ECB was fully merged into the Company at the acquisition date as part of a single operating segment.

	Three Months Ended		Six Months Ended June 30,
	June 30, 2012		2013			2012
Net interest income	$	18,552	$	38,389		37,499
Net income (loss)	$	1,994	$	(5,252	)	4,074
Net income (loss) available to common stockholders	$	1,361	$	(6,591	)	2,810
Net income (loss) per common share - basic	$	0.03	$	(0.14	)	0.06
Net income (loss) per common share - diluted	$	0.03	$	(0.14	)	0.06
Weighted average basic common shares outstanding	45,840,378		45,895,953			45,628,706
Weighted average diluted common shares outstanding	45,986,363		45,895,953			45,650,986