Business Segment Information (Tables)

3 Months Ended

Mar. 31, 2013

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table details the results of operations for the three months ended March 31, 2013 and 2012 for bank activities and mortgage activities.

During the second quarter of 2012, the Company changed its reporting of mortgage activities based on the reorganization of the Bank's mortgage division. This decision was made to improve overall reporting of its mortgage banking activities which are now analyzed and reviewed as a separate and distinct business segment. This change in reporting segment combined both mortgage activities of the Bank with mortgage activities that were previously reported separately from mortgage activities provided by Sidus. Reclassifications include interest income which was previously presented in other income, commission expenses recorded in salaries that are now recorded as a reduction in mortgage banking activity income, and other miscellaneous expenses previously recorded in other expenses that have been reclassified as a reduction to mortgage banking activity income. In addition, gains on sale of mortgage loans has been reclassified to be reported with mortgage banking income to provide a combined overview of the mortgage banking activity segment. The reclassifications had no effect on net income or shareholders' equity, as previously reported.

In the fourth quarter of 2012, a decision was made by management to sell a reinsurance subsidiary held by Sidus. As a result of this decision, Sidus reclassified its investment in the reinsurance subsidiary to held for sale and wrote down its investment by $1.0 million to the estimated fair value at December 31, 2012. The sale of the subsidiary closed in the first quarter of 2013. In addition, at the beginning of 2013, the Company dissolved the Sidus subsidiary and is no longer doing business as Sidus beginning in 2013. As a result, all mortgage banking activity beginning in 2013 is at the Bank.

	Bank Activities		Mortgage Activities		Other (1)			Total
	(Amounts in thousands)
For Three Months Ended March 31, 2013
Interest income	$	17,379	$	896	$	—		$	18,275
Interest expense	3,031		—		192			3,223
Net interest income	14,348		896		(192		)	15,052
Provision for loan losses	237		—		—			237
Net interest income (loss) after provision for loan losses	14,111		896		(192		)	14,815
Other income	2,384		3,288		(15		)	5,657
Other expense	11,805		1,403		7			13,215
Income (loss) before income taxes	4,690		2,781		(214		)	7,257
Income taxes	2,608		—		—			2,608
Net income (loss)	$	2,082	$	2,781	$	(214	)	$	4,649
Total assets	$	1,756,832	$	87,636	$	2,124		$	1,846,592
Net loans	1,214,970		64,802		—			1,279,772
Loans held for sale	—		18,461		—			18,461

(1) Included in this column are Holding Company assets and Holding Company income and expenses.

	Bank Activities		Mortgage Activities		Other (1)			Total
	(Amounts in thousands)
For Three Months Ended March 31, 2012
Interest income	$	20,811	$	178	$	—		$	20,989
Interest expense	4,868		15		216			5,099
Net interest income	15,943		163		(216		)	15,890
Provision for loan losses	2,346		4		—			2,350
Net interest income (loss) after provision for loan losses	13,597		159		(216		)	13,540
Other income	2,348		1,139		22			3,509
Other expense	12,494		1,080		4			13,578
Income (loss) before income tax expense	3,451		218		(198		)	3,471
Income tax expense	—		—		—			—
Net income (loss)	$	3,451	$	218	$	(198	)	$	3,471
Balance Sheet Information as of December 31, 2012
Total assets	$	1,815,174	$	107,232	$	1,032		$	1,923,438
Net loans	1,211,589		72,766		—			1,284,355
Loans held for sale	—		27,679		—			27,679

(1) Note: The “Other” column includes asset eliminations representing the Bank's Due from Sidus account ($70 in 2012), the Bank's Investment in Sidus ($3,000 in 2012), and the Bank's A/R from Sidus ($3 in 2012). Also included in this column are Holding Company assets ($1,112 in 2012) and Holding Company income and expenses.