Parent Company Only Financial Information - (As Restated) (Tables)

12 Months Ended

Dec. 31, 2015

Parent Company Only Financial Information - (As Restated) [Abstract]

Condensed Statement of Financial Condition

		December 31,
(In thousands)		2015		2014
Assets
Cash	$	11,102	$	1,036
Investment securities		14,522		0
Investment in bank subsidiary		132,809		150,209
Investment in non-bank subsidiaries		1,255		1,255
Other assets		5,403		5,872
Total Assets	$	165,091	$	158,372
Liabilities and Shareholder’s Equity
Accrued interest and other liabilities	$	2,590	$	2,643
Dividends payable		0		0
Junior subordinated debt		41,730		46,730
Shareholder’s equity		120,771		108,999
Total Liabilities and Shareholder’s Equity	$	165,091	$	158,372

Condensed Statements of Income

		Year Ended
		December 31,
(In thousands)		2015		2014
Income:
Dividend income from bank subsidiary	$	33,658	$	10,972
Gain on Investments		3,521		0
Other income		69		240
Total Other income		3,590		240
Total Income		37,248		11,212
Expenses:
Interest expense		2,192		2,492
Other expenses		365		354
Total Expenses		2,557		2,846
Income before income taxes and equity in undistributed
net loss of subsidiaries		34,691		8,366
Applicable income tax (expense)/benefit		(975)		3,120
Net income before equity in undistributed net loss of subsidiaries		33,716		11,486
Equity in undistributed net loss of subsidiaries:
Bank		(20,725)		(5,870)
Non-bank		0		(19)
Net Income	$	12,991	$	5,597

Condensed Statement of Comprehensive Income

	Year Ended
	December 31,
Components of Comprehensive Income (in thousands)		2015	2014
Net Income	$	12,991	$	5,597
Unrealized losses on AFS Securities, net of tax		(2,115)
Unrealized gains on cash flow hedges, net of tax		80		155
Other comprehensive income, net of tax		(2,035)		155
Comprehensive income	$	10,956	$	5,752

Condensed Cash Flow Statement

Condensed Statement of Cash Flows

		Year Ended
		December 31,
(In thousands)		2015		2014
Operating Activities
Net Income	$	12,991	$	5,597
Adjustments to reconcile net income to net cash (used in)/provided
by operating activities:
Equity in undistributed net income of subsidiaries		6,203		5,889
Decrease/(increase) in other assets		470		(1,686)
Increase/(decrease) in accrued interest payable and other liabilities		(2,089)		(12,089)
Stock Compensation		191		134
Net cash provided by/(used in) operating activities		17,766		(2,155)
Investing Activities
Net investment in subsidiaries		0		2,761
Net cash provided by investing activities		0		2,761
Financing Activities
Dividends – common stock		0		0
Repayment of Long-term debt		(5,000)		0
Dividends - preferred stock paid		(2,700)		(2,595)
Net cash used in financing activities		(7,700)		(2,595)
Increase/(decrease) in cash and cash equivalents		10,066		(1,989)
Cash and cash equivalents at beginning of year		1,036		3,025
Cash and cash equivalents at end of year	$	11,102	$	1,036

Condensed Statement of Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income

Components of Comprehensive Income (in thousands)	Before Tax Amount		Tax (Expense) Benefit		Net
For the period ended December 31, 2015
Available for Sale Securities:
Unrealized holding losses	$	(3,521)	$	1,406	$	(2,115)
Cash flow hedges:
Unrealized holding gains		133		(53)		80
Other comprehensive income	$	(3,388)	$	1,353	$	(2,035)
For the period ended December 31, 2014
Cash flow hedges:
Unrealized holding gains	$	258	$	(103)	$	155
Other comprehensive income	$	258	$	(103)	$	155