Parent Company Condensed Financial Information

12 Months Ended

Dec. 31, 2011

Parent Company Condensed Financial Information [Abstract]

Parent Company Condensed Financial Information

NOTE 19: Parent Company Condensed Financial Information

Financial information for the parent company is as follows:

	December 31,
(Dollars in thousands)	2011		2010
Balance Sheets
Assets
Cash	$	586	$	328
Securities available for sale		68		31
Other assets		2,672		2,642
Investments in subsidiary		114,011		110,636
Total assets	$	117,337	$	113,637
Liabilities and shareholders' equity
Trust preferred capital notes	$	20,620	$	20,620
Other liabilities		627		240
Shareholders' equity		96,090		92,777
Total liabilities and shareholders' equity	$	117,337	$	113,637

	Year Ended December 31,
(Dollars in thousands)	2011			2010			2009
Statements of Income
Interest income on securities	$	-		$	22		$	92
Interest expense on borrowings		(986	)		(999	)		(1,070	)
Dividends received from bank subsidiary		14,136			2,551			4,220
Equity in undistributed net income (loss) of subsidiary		(137	)		6,573			2,293
Other income		647			684			675
Other expenses		(684	)		(721	)		(684	)
Net income	$	12,976		$	8,110		$	5,526

	Year Ended December 31,
(Dollars in thousands)	2011			2010			2009
Statements of Cash Flows
Operating activities:
Net income	$	12,976		$	8,110		$	5,526
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in distributed (undistributed) earnings of subsidiary		137			(6,573	)		(2,293	)
Share-based compensation		363			367			318
Net (gain) loss on securities		-			(12	)		22
Increase in other assets		112			322			349
Increase (decrease) in other liabilities		(104	)		21			(2	)
Net cash provided by operating activities		13,484			2,235			3,920
Investing activities:
Proceeds from maturities and calls of securities		-			1,262			265
Investment in bank subsidiary		-			-			(19,927	)
Net cash provided by (used in) investing activities		-			1,262			(19,662	)
Financing activities:
Net proceeds from issuance of preferred stock		-			-			19,914
Net proceeds from issuance of common stock		41			-			-
Redemption of preferred stock		(10,000	)
Cash dividends		(4,018	)		(4,088	)		(4,080	)
Proceeds from exercise of stock options		651			409			326
Net cash (used in) provided by financing activities		(13,226	)		(3,679	)		16,160
Net increase (decrease) in cash and cash equivalents		258			(182	)		418
Cash at beginning of year		328			510			92
Cash at end of year	$	586		$	328		$	510