SUBSEQUENT EVENT

12 Months Ended

Dec. 31, 2011

SUBSEQUENT EVENT [Abstract]

SUBSEQUENT EVENT

NOTE S. SUBSEQUENT EVENT

The Company evaluated subsequent events and transactions for potential recognition or disclosure in the financial statements.

Subsequent to the balance sheet date, on February 21, 2012, the Board of Directors of the Bank entered into a Formal Agreement with the Comptroller and agreed to the establishment of the IMCRs.  See Note M, “Regulatory Matters,” above for a more detailed description of the Formal Agreement and the IMCRs and the actions the Bank is required to take to comply with the Formal Agreement.