Parent company information

12 Months Ended

Dec. 31, 2011

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Parent company information

Parent company information

Condensed financial statements of the parent company only are presented below.

Condensed Balance Sheet

	December 31,
In thousands	2011		2010
Assets
Cash and cash equivalents	$	28	$	33
Investment in subsidiary	28,834		32,180
Due from subsidiary	598		826
Other assets	185		5
Total assets	$	29,645	$	33,044
Liabilities and stockholders’ equity
Other liabilities	$	550	$	824
Notes payable	5,200		5,200
Subordinated debt	4,124		4,124
Total liabilities	9,874		10,148
Stockholders’ equity	19,771		22,896
Total liabilities and stockholders’ equity	$	29,645	$	33,044

Condensed Statement of Operations

	Year Ended December 31,
In thousands	2011			2010			2009
Income
Interest income	$	—		$	—		$	1
Other operating income	100			1,100			78
Dividends from subsidiaries	—			—			687
Interest from subsidiaries	49			288			361
Total income	149			1,388			1,127
Expenses
Interest expense	399			406			439
Other operating expenses	2			2			3
Income tax (benefit) expense	(84		)	358			15
Total expenses	317			766			457
(Loss) income before equity in undis- tributed (loss) income of subsidiaries	(168		)	622			670
Equity in undistributed (loss) of subsidiaries	(3,509		)	(8,079		)	(8,492		)
Net loss	$	(3,677	)	$	(7,457	)	$	(7,822	)

Condensed Statement of Cash Flows

	Year Ended December 31,
In thousands	2011			2010			2009
Operating activities
Net loss	$	(3,677	)	$	(7,457	)	$	(7,822	)
Adjustments to reconcile net income to cash used in operating activities:
Equity in undistributed loss of subsidiaries	3,509			8,079			8,492
(Increase) decrease in other assets	(180		)	188			306
(Decrease) increase in other liabilities	(274		)	360			(77		)
Net cash (used in) provided by operating activities	(622		)	1,170			899
Investing activities
Decrease (increase) in investment in subsidiaries	387			(4,721		)	(8,925		)
Decrease in loans to subsidiaries	228			4,174			75
Net cash provided by (used in) investing activities	615			(547		)	(8,850		)
Financing activities
Decrease in notes payable	—			(100		)	(100		)
Proceeds from issuance of preferred stock	—			—			9,439
Issuance (purchases) of treasury stock	2			—			(3		)
Dividends paid	—			(490		)	(1,417		)
Net cash provided by (used in) financing activities	2			(590		)	7,919
(Decrease) increase in cash and cash equivalents	(5		)	33			(32		)
Cash and cash equivalents at beginning of year	33			—			32
Cash and cash equivalents at end of year	$	28		$	33		$	—