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Condensed Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Interest and dividend income:    
Loans, including fees$ 1,587 $ 7,387 
Securities, taxable and other6011945
Total interest and dividend income1,64717,5815
Interest expense:    
Deposits    
Total interest expense123 362 
Net interest income1,52417,2195
Provision for loan losses:1,718 7,430 
Net interest income/(loss) after provision for loan losses(194)1(211)5
Non-interest income:    
Service charges77 233 
Gain on sale of OREO  34 
Change in fair value of contingent consideration1,816 1,816 
Other84 207 
Total non-interest income1,977 2,290 
Non-interest expense    
Salaries and employee benefits823562,381194
Occupancy, equipment and depreciation365 1,113 
Computer service charges71 222 
Federal deposit insurance111 392 
Legal and professional fees3419481,7962,673
Advertising and business development17 85 
Insurance7376211226
Telephone19 62 
Printing and supplies30142259273
Director Fees51 149 
Stock-based compensation131(1,850)411(588)
Provision for unfunded commitments48 (288) 
Oreo property impairment686 686 
Goodwill impairment5,633 5,633 
Other2511583941
Total non-interest expense8,650(613)13,9512,819
Net income/(loss)(6,867)614(11,872)(2,814)
Comprehensive income/(loss)(6,861)614(11,871)(2,814)
Basic earnings/(loss) per common share$ (0.46)$ 0.06$ (0.79)$ (0.26)
Diluted earnings/(loss) per common share$ (0.46)$ 0.01$ (0.79)$ (0.26)
Weighted average common shares outstanding - basic15,058,38310,959,16915,078,14310,959,169
Weighted average common shares outstanding - diluted15,058,38359,226,92715,078,14310,959,169
Service1st Bank Predecessor
    
Interest and dividend income:    
Loans, including fees   5,371
Securities, taxable and other   745
Total interest and dividend income   6,116
Interest expense:    
Deposits    
Total interest expense   1,083
Net interest income   5,033
Provision for loan losses:   3,938
Net interest income/(loss) after provision for loan losses   1,095
Non-interest income:    
Service charges   351
Other   115
Total non-interest income   466
Non-interest expense    
Salaries and employee benefits   2,688
Occupancy, equipment and depreciation   1,232
Computer service charges   218
Federal deposit insurance   387
Legal and professional fees   1,528
Advertising and business development   74
Insurance   60
Telephone   79
Printing and supplies   39
Stock-based compensation   607
Provision for unfunded commitments   (442)
Other   451
Total non-interest expense   6,921
Net income/(loss)   (5,360)
Comprehensive income/(loss)   $ (5,372)
Basic earnings/(loss) per common share   $ (107.59)
Diluted earnings/(loss) per common share   $ (107.59)
Weighted average common shares outstanding - basic   49,811
Weighted average common shares outstanding - diluted   49,811