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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
11 Months Ended 12 Months Ended 1 Months Ended
Dec. 31, 2012
Successor Company
Dec. 31, 2013
Successor Company
Jan. 31, 2012
Predecessor Company
Cash flows from operating activities      
Net income $ 3,793 $ 7,174 $ 529
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Provision for loan losses 5,159 5,469 195
Depreciation 1,259 2,521 103
Amortization of core deposit intangible 410 800 28
Gain on acquisition 0 (7,773) 0
Stock-based compensation 850 873 4
Gain on sales of securities available for sale (1,251) (1,215) 0
Net amortization of premiums on investment securities 901 1,749 25
Accretion of acquisition discount on purchased loans (14,695) (20,613) (1,592)
Loss (gain) on mortgage loan commitments (583) 441 (159)
Gain on sales of loans held for sale (5,547) (7,436) (20)
Originations of loans held for sale (140,724) (188,070) (6,340)
Proceeds from sales of loans held for sale 131,388 216,738 9,018
Increase in cash surrender value of bank-owned life insurance (653) (923) (62)
Deferred income tax expense (benefit) (255) 2,014 270
Change in deferred tax asset valuation allowance (3,300) 0 0
Net loss on disposal of foreclosed assets 51 0 17
Valuation adjustments on foreclosed assets 1,119 467 0
Gains from change in fair value of interest rate swaps (226) (103) (2)
Amortization of acquisition premium on time deposits (2,737) (3,049) (311)
Net accretion (amortization) of acquisition discount (premium) on long-term debt 136 (3) 12
Change in assets and liabilities:      
Increase in accrued interest receivable (1,483) (233) (34)
(Increase) decrease in other assets (297) (13,395) 3,143
Increase (decrease) in accrued interest payable (261) 1,017 (106)
Increase (decrease) in accrued expenses and other liabilities 6,247 (1,939) (2,606)
Net cash provided by (used in) operating activities (20,699) (5,489) 2,112
Cash flows from investing activities      
Purchases of securities available for sale (83,529) (201,919) (2,658)
Proceeds from maturities and repayments of securities available for sale 33,993 33,962 2,158
Proceeds from sales of securities available for sale 86,601 174,326 0
Loan originations and principal collections, net (30,741) (160,891) 542
Proceeds from sales of loans 10,862 2,595 9,635
Purchases of loans (7,698) (2,567) 0
Purchases of premises and equipment (2,187) (5,454) (269)
Proceeds from disposal of foreclosed assets 4,827 6,776 2,940
Net cash received in acquisition of ECB Bancorp, Inc. 0 24,008 0
Proceeds (disbursements) from sales (purchases) of Federal Home Loan Bank stock 7,469 (3,472) 123
Net cash provided by (used in) investing activities 19,597 (132,636) 12,471
Cash flows from financing activities      
Net increase (decrease) in deposits 20,057 69,022 (30,032)
Proceeds from issuance of short-term borrowings, net 3,000 84,716 0
Proceeds from issuance (repayments) of long-term debt, net (5,000) 36,600 5,000
Proceeds from exercise of stock options 32 111 0
Proceeds from issuance of Legacy VantageSouth Bank common stock to directors 14 0 0
Repurchases of common stock (13) 0 0
Restricted stock, canceled for tax withholding 0 (205) 0
Dividends paid on preferred stock (2,548) (1,803) 0
Net cash provided by (used in) financing activities 15,542 188,441 (25,032)
Net change in cash and cash equivalents 14,440 50,316 (10,449)
Cash and cash equivalents, beginning 36,023 50,463 46,472
Cash and cash equivalents, ending 50,463 100,779 36,023
Supplemental Cash Flow Information [Abstract]      
Interest 9,032 10,364 1,038
Income taxes 0 0 0
Transfer of loans to foreclosed assets 3,690 5,856 35
Change in fair value of securities available for sale, net of tax 1,238 (8,639) 488
Change in fair value of cash flow hedge, net of tax (267) 2,648 0
Assets acquired 0 856,076 0
Liabilities assumed 0 789,989 0
Other equity interests acquired 0 17,685 0
Purchase price $ 0 $ 40,629 $ 0