Parent Company Only Financial Information (Tables) (Parent)

12 Months Ended

Dec. 31, 2012

Parent

Parent Company Only Financial Information

Balance Sheet

	December 31,
	2012		2011
	(dollars in thousands)
ASSETS
Cash and due from subsidiary banks	$	5,152	$	25,771
Securities available for sale	201		208
Loans	68		163
Investments in subsidiaries:
Bank	432,912		412,425
Non-bank	23,605		22,714
Premises and equipment, net	757		844
Other assets	9,369		9,487
Total assets	$	472,064	$	471,612
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Long-term ESOP debt	$	—	$	417
Junior subordinated debentures owed to unconsolidated trusts	55,000		55,000
Other liabilities	8,267		6,928
Total liabilities	63,267		62,345
Total stockholders’ equity	408,797		409,267
Total liabilities and stockholders’ equity	$	472,064	$	471,612

Statement of Operations

	Years Ended December 31,
	2012		2011			2010
	(dollars in thousands)
Operating income:
Dividends from subsidiaries:
Bank	$	—	$	—		$	—
Non-bank	2,500		3,750			1,900
Interest and dividend income	49		63			27
Other income	6,231		2,424			2,743
Total operating income	8,780		6,237			4,670
Expense:
Salaries and employee benefits	4,718		3,620			2,595
Interest expense	1,351		1,963			3,197
Operating expense	2,469		2,623			2,612
Total expense	8,538		8,206			8,404
Income (loss) before income tax benefit and distributions less than (in excess of) net income of subsidiaries	242		(1,969		)	(3,734		)
Income tax benefit	1,155		2,556			2,530
Income before distributions less than (in excess of) net income of subsidiaries	1,397		587			(1,204		)
Distributions less than (in excess of) net income (loss) of subsidiaries:
Bank	20,097		29,941			23,051
Non-bank	863		(655		)	1,383
Net income	$	22,357	$	29,873		$	23,230

Statement of Cash Flows

	Years Ended December 31,
	2012			2011			2010
	(dollars in thousands)
Cash Flows from Operating Activities
Net income	$	22,357		$	29,873		$	23,230
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	98			120			310
Distributions less than net income of subsidiaries	(20,960		)	(29,286		)	(24,434		)
Stock-based compensation	991			488			194
Fair value adjustment on employee stock ownership plan shares allocated	(322		)	(318		)	(328		)
Changes in assets and liabilities:
Decrease (increase) in other assets	125			1,479			(953		)
Increase (decrease) in other liabilities	1,435			(22,630		)	22,128
Net cash provided by (used in) operating activities	3,724			(20,274		)	20,147
Cash Flows from Investing Activities
Securities purchased under agreements to resell, net	—			10,909			16,095
Decrease in loans	95			85			81
Proceeds from sales of premises and equipment	—			—			191
Purchases of premises and equipment	(11		)	(5		)	(6		)
Investment in subsidiary, net	—			—			(12,500		)
Net cash provided by investing activities	84			10,989			3,861
Cash Flows from Financing Activities
Proceeds from short-term debt	—			—			4,000
Principal payments on long-term debt	—			—			(13,000		)
Principal payments on short-term debt	—			—			(4,000		)
Repurchase of Series T Preferred Stock	—			(100,000		)	—
Proceeds from issuance of Series C Preferred stock	—			72,664			—
Proceeds from issuance of Series B Preferred stock, net	—			—			31,862
Proceeds from issuance of Common stock, net	—			—			52,454
Cash dividends paid	(24,427		)	(18,343		)	(15,617		)
Net cash (used in) provided by financing activities	(24,427		)	(45,679		)	55,699
Net (decrease) increase in cash and due from subsidiary banks	(20,619		)	(54,964		)	79,707
Cash and due from subsidiary banks, beginning	25,771			80,735			1,028
Cash and due from subsidiary banks, ending	$	5,152		$	25,771		$	80,735