v2.4.0.6

Parent Company Financial Information | 12 Months Ended
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Dec. 31, 2011
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Parent Company Financial Information | Parent Company Financial Information Condensed Statements of Income—Parent Company Only
|  | Years Ended December 31,
2011 |  | 2010 |  | 2009
(in thousands)
Income |  |  |  |  |  |
Dividend from banking subsidiary |  | $ | — |  |  | $ | — |  |  | $ | 200 |
Interest-earning deposits |  | 712 |  |  | 1,319 |  |  | 1,095 |
Other income |  | 17 |  |  | 31 |  |  | 36 |
Total income |  | 729 |  |  | 1,350 |  |  | 1,331 |
Expense |  |  |  |  |  |
Compensation and employee benefits |  | 88 |  |  | 96 |  |  | 512 |
Long-term obligations |  | 579 |  |  | 1,029 |  |  | 1,196 |
Other expense |  | 1,114 |  |  | 1,066 |  |  | 1,104 |
Total expenses |  | 1,781 |  |  | 2,191 |  |  | 2,812 |
Loss before income tax expense (benefit) and equity in undistributed net income of subsidiaries |  | (1,052 | ) |  | (841 | ) |  | (1,481 | )
Income tax expense (benefit) |  | 91 |  |  | (778 | ) |  | (580 | )
Income before equity in undistributed net income (loss) of subsidiaries |  | (1,143 | ) |  | (63 | ) |  | (901 | )
Equity in undistributed net income (loss) of subsidiaries |  | 49,180 |  |  | 30,847 |  |  | (3,067 | )
Net income (loss) |  | $ | 48,037 |  |  | $ | 30,784 |  |  | $ | (3,968 | )
Condensed Balance Sheets—Parent Company Only
|  | December 31,
2011 |  | 2010
|  | (in thousands)
Assets |  |  |  |
Cash and due from banking subsidiary |  | $ | 3,220 |  |  | $ | 673 |
Interest-earning deposits |  | 72,014 |  |  | 158,500 |
Total cash and cash equivalents |  | 75,234 |  |  | 159,173 |
Investment in banking subsidiary |  | 683,977 |  |  | 571,945 |
Investment in other subsidiaries |  | — |  |  | 774 |
Other assets |  | 510 |  |  | 1,160 |
Total assets |  | $ | 759,721 |  |  | $ | 733,052 |
Liabilities and Shareholders’ Equity |  |  |  |
Long-term subordinated debt |  | $ | — |  |  | $ | 25,736 |
Other liabilities |  | 383 |  |  | 438 |
Total liabilities |  | 383 |  |  | 26,174 |
Shareholders’ equity |  | 759,338 |  |  | 706,878 |
Total liabilities and shareholders’ equity |  | $ | 759,721 |  |  | $ | 733,052 |
Condensed Statements of Cash Flows—Parent Company Only
|  | Years Ended December 31,
2011 |  | 2010 |  | 2009
(in thousands)
Operating Activities |  |  |  |  |  |
Net income (loss) |  | $ | 48,037 |  |  | $ | 30,784 |  |  | $ | (3,968 | )
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |
Equity in undistributed earnings of subsidiaries |  | (49,180 | ) |  | (30,847 | ) |  | 3,067 |
Stock-based compensation expense |  | 1,635 |  |  | 1,424 |  |  | 1,038 |
Net changes in other assets and liabilities |  | 315 |  |  | (769 | ) |  | 1,783 |
Net cash provided by operating activities |  | 807 |  |  | 592 |  |  | 1,920 |
Investing Activities |  |  |  |  |  |
Proceeds from termination of trust subsidiaries |  | 774 |  |  | — |  |  | — |
Net cash provided by investing activities |  | 774 |  |  | — |  |  | — |
Financing Activities |  |  |  |  |  |
Net decrease in short-term borrowings |  | — |  |  | — |  |  | (100 | )
Cash dividends paid |  | (10,660 | ) |  | (4,302 | ) |  | (5,155 | )
Repayment of long-term subordinated debt |  | (25,774 | ) |  | — |  |  | — |
Issuance of common stock, net of offering costs |  | — |  |  | 229,129 |  |  | 113,537 |
Purchase and retirement of common stock |  | (32 | ) |  | — |  |  | — |
Proceeds from exercise of stock options |  | 848 |  |  | 948 |  |  | 939 |
Downstream stock offering proceeds to the Bank |  | (50,000 | ) |  | (70,000 | ) |  | (105,000 | )
Excess tax benefit associated with share-based compensation |  | 98 |  |  | — |  |  | — |
Purchase and retirement of preferred stock |  | — |  |  | (80,200 | ) |  | — |
Net cash provided by financing activities |  | (85,520 | ) |  | 75,575 |  |  | 4,221 |
Increase (decrease) in cash and cash equivalents |  | (83,939 | ) |  | 76,167 |  |  | 6,141 |
Cash and cash equivalents at beginning of year |  | 159,173 |  |  | 83,006 |  |  | 76,865 |
Cash and cash equivalents at end of year |  | $ | 75,234 |  |  | $ | 159,173 |  |  | $ | 83,006 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Article 9 -Section 06 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Article 7 -Section 05 -Paragraph c Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e24072-122690 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 24 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6921628&loc=d3e5283-111683 + Details
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