Subsequent Events

6 Months Ended

Jun. 30, 2011

Subsequent Events

Subsequent Events

Note 13 – Subsequent Events

In July 2011, the Bank recorded a charge-off of $1.9 million on two commercial real estate secured loans to two related entities. The loans were part of a shared national credit in which the Bank was participating and the action was the result of regulatory direction after review of the credit at the lead bank.  Of the $1.9 million charge-off, $1.1 million was 30 – 89 days past due and $800 thousand was 90 days or more past due at June 30, 2011.  The $1.9 million charge-off was specifically reserved in the Bank's June 30, 2011 allowance for loan loss calculation.