XML 35 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Balance Sheets (Unaudited) (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2014
Dec. 31, 2013
ASSETS    
Cash and due from banks $ 13,546 $ 12,525
Interest bearing deposits with banks 88,917 23,355
Federal funds sold 3,381 0
Cash and cash equivalents 105,844 35,880
Investment securities available for sale, at fair value 158,830 204,891
Investment securities held to maturity, at amortized cost (fair value of $68,646 and $21, respectively) 68,991 21
Restricted stock, at cost 1,725 1,570
Loans held for sale 789 4,931
Loans receivable (net of allowance for loan losses of $12,216 and $12,263, respectively) 739,817 667,048
Premises and equipment, net 29,767 22,748
Other real estate owned, net 3,775 4,059
Accrued interest receivable 3,282 3,049
Other assets 17,896 17,468
Total Assets 1,130,716 961,665
Deposits    
Demand - non-interest bearing 216,642 157,806
Demand - interest bearing 224,102 230,221
Money market and savings 471,199 402,671
Time deposits 78,132 78,836
Total Deposits 990,075 869,534
Accrued interest payable 300 237
Other liabilities 6,272 6,519
Subordinated debt 22,476 22,476
Total Liabilities 1,019,123 898,766
Shareholders' Equity    
Preferred stock, par value $0.01 per share: 10,000,000 shares authorized; no shares issued 0 0
Common stock, par value $0.01 per share: 50,000,000 shares authorized; shares issued 38,343,848 as of September 30, 2014 and 26,501,742 as of December 31, 2013 383 265
Additional paid in capital 152,122 107,078
Accumulated deficit (36,119) (37,708)
Treasury stock at cost (503,408 shares as of September 30, 2014 and 416,303 shares as of December 31, 2013) (3,725) (3,099)
Stock held by deferred compensation plan (25,437 shares as of September 30, 2014 and 112,542 shares as of December 31, 2013) (183) (809)
Accumulated other comprehensive loss (885) (2,828)
Total Shareholders' Equity 111,593 62,899
Total Liabilities and Shareholders' Equity $ 1,130,716 $ 961,665