Condensed Financial Statements - Parent Company Only (Tables)

12 Months Ended

Dec. 31, 2013

Condensed Financial Statements - Parent Company Only [Abstract]

Schedule of Condensed Balance Sheet

Balance Sheets
	December 31,
(dollars in thousands)	2013	2012
Assets
Cash - noninterest bearing	$              402	$              661
Investment in wholly owned subsidiaries	122,382	88,739
Other assets	1,230	2,864
Total Assets	$        124,014	$          92,264
Liabilities and Stockholders' Equity
Current liabilities	$              912	$              845
Guaranteed preferred beneficial interest in junior subordinated debentures	12,372	12,372
Total Liabilities	13,284	13,217
Stockholders' Equity
Preferred Stock - Series C	20,000	20,000
Common stock	46	30
Additional paid in capital	45,881	17,874
Retained earnings	46,523	41,987
Accumulated other comprehensive income	(1,057)	139
Unearned ESOP shares	(663)	(983)
Total Stockholders’ Equity	110,730	79,047
Total Liabilities and Stockholders’ Equity	$        124,014	$          92,264

Schedule of Condensed Income Statement

Condensed Statements of Income
	Years Ended December 31,
(dollars in thousands)	2013	2012
Interest and Dividend Income
Dividends from subsidiary	$                  -	$          2,300
Interest income	46	93
Interest expense	305	338
Net Interest Income (Expense)	(259)	2,055
Miscellaneous expenses	(825)	(608)
(Loss) Income before income taxes and equity in
undistributed net income of subsidiary	(1,084)	1,447
Federal and state income tax benefit	368	290
Equity in undistributed net income of subsidiary	7,367	3,253
Net Income	$          6,651	$          4,990
Preferred stock dividends	200	200
Net Income Available to Common Shareholders	$          6,451	$          4,790

Schedule of Condensed Cash Flow Statement

Condensed Statements of Cash Flows
	Years Ended December 31,
(dollars in thousands)	2013	2012
Cash Flows from Operating Activities
Net income	$            6,651	$            4,990
Adjustments to reconcile net income to net cash provided by operating activities
Equity in undistributed earnings of subsidiary	(7,367)	(3,253)
Stock based compensation	249	389
Decrease (Increase) in other assets	1,697	(90)
Deferred income tax benefit	(26)	(20)
Increase in current liabilities	67	57
Net Cash Provided by Operating Activities	1,271	2,073
Cash Flows from Financing Activities
Dividends paid	(1,579)	(1,422)
Proceeds from public offering	27,387	-
Downstream of capital to subsidiary	(27,474)	(115)
Exercise of stock options	317	83
Net change in ESOP loan	355	(2)
Repurchase of common stock	(536)	(294)
Net Cash Used in Financing Activities	(1,530)	(1,750)
(Decrease) Increase in Cash	(259)	323
Cash at Beginning of Year	661	338
Cash at End of Year	$               402	$               661