Condensed Financial Information of the Parent Company Only (Tables)

12 Months Ended

Dec. 31, 2012

Condensed Financial Information of the Parent Company Only [Abstract]

Condensed Balance Sheets

	December 31,
(in thousands)	2012		2011
Assets
Cash and due from bank subsidiaries	$	1,863	$	13,282
Investment in equity securities		1,486		1,486
Investment in subsidiaries		139,849		140,361
Premises and equipment		1		1
Deferred tax asset		1,424		1,611
Other assets		1,022		10
Total assets	$	145,645	$	156,751
Liabilities and Stockholders’ Equity
Subordinated notes	$	49,486	$	49,486
Other liabilities		3,939		4,689
Stockholders’ equity		92,220		102,576
Total liabilities and stockholders’ equity	$	145,645	$	156,751

Condensed Statements of Operations

	For the Years Ended December 31,
	2012		2011		2010
Income
Interest and dividends received from subsidiaries	$	4,596	$	5,192	$	4,405
Total income		4,596		5,192		4,405
Expenses
Interest on subordinated notes		1,381		1,301		1,526
Other		2,889		2,605		2,904
Total expenses		4,270		3,906		4,430
Income (loss) before income tax benefit and equity in undistributed income of subsidiaries		326		1,285		(25	)
Income tax benefit		2,257		1,368		1,450
Equity in undistributed income (loss) of subsidiaries		239		204		(4,977	)
Net income (loss)	$	2,822	$	2,857	$	(3,552	)

Condensed Statements of Cash Flows

(in thousands)	2012			2011			2010
Cash flows from operating activities:
Net income (loss)	$	2,822		$	2,857		$	(3,552	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation		1			2			3
Equity in undistributed (income) losses of subsidiaries		(239	)		(204	)		4,977
Stock based compensation expense		29			58			87
(Increase) decrease in deferred tax asset		(148	)		(274	)		(38	)
Other, net		(813	)		(89	)		382
Net cash provided by operating activities		1,652			2,350			1,859
Cash flows from investing activities:
Investment in subsidiary		1,072			900			(1,250	)
Net cash provided by (used in) investing activities		1,072			900			(1,250	)
Cash flows from financing activities:
Redemption of 12,000 shares of preferred stock		(12,000	)		0			0
Cash dividends paid—preferred stock		(1,203	)		(1,513	)		(1,513	)
Cash dividends paid—common stock		(940	)		(904	)		(1,385	)
Net cash used in financing activities		(14,143	)		(2,417	)		(2,898	)
Net (decrease) increase in cash and due from banks		(11,419	)		833			(2,289	)
Cash and due from banks at beginning of year		13,282			12,449			14,738
Cash and due from banks at end of year	$	1,863		$	13,282		$	12,449