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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2012
Fair Value Measurements and Off-Balance Sheet Commitments [Abstract] |
Assets and liabilities measured at fair value on a recurring basis |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  |  |
|  | Quoted Prices in Active Markets for Identical Assets |  |  | Significant Observable Inputs With No Active Market With Identical Characteristics |  |  | Significant Unobservable Inputs |  |  | Balance |
|  | (In Thousands) |
As of June 30, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ASSETS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Securities Available for Sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential Mortgage-Backed Securities |  | $ | — |  |  | $ | 115,136 |  |  | $ | — |  |  | $ | 115,136 |
U.S. Government Agency Securities |  |  | 74,226 |  |  |  | — |  |  |  | — |  |  |  | 74,226 |
Collateralized Mortgage Obligations |  |  | — |  |  |  | 96,582 |  |  |  | — |  |  |  | 96,582 |
Municipal Bonds-Tax Exempt |  |  | — |  |  |  | 3,137 |  |  |  | — |  |  |  | 3,137 |
Municipal Bonds-Taxable |  |  | — |  |  |  | 6,330 |  |  |  | — |  |  |  | 6,330 |
Corporate Bonds |  |  | — |  |  |  | 19,901 |  |  |  | — |  |  |  | 19,901 |
Other Securities |  |  | — |  |  |  | 3,357 |  |  |  | — |  |  |  | 3,357 |
Total Debt Securities Available for Sale |  | $ | 74,226 |  |  | $ | 244,443 |  |  | $ | — |  |  | $ | 318,669 |
Equity Securities Available for Sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial Services Industry |  | $ | 485 |  |  | $ | — |  |  | $ | — |  |  | $ | 485 |
Total Equity Securities Available for Sale |  | $ | 485 |  |  | $ | — |  |  | $ | — |  |  | $ | 485 |
Total Securities Available for Sale |  | $ | 74,711 |  |  | $ | 244,443 |  |  | $ | — |  |  | $ | 319,154 |
LIABILITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock Warrants |  | $ | — |  |  | $ | — |  |  | $ | 1,020 |  |  | $ | 1,020 |
As of December 31, 2011 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ASSETS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Securities Available for Sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential Mortgage-Backed Securities |  | $ | — |  |  | $ | 113,005 |  |  | $ | — |  |  | $ | 113,005 |
U.S. Government Agency Securities |  |  | 72,548 |  |  |  | — |  |  |  | — |  |  |  | 72,548 |
Collateralized Mortgage Obligations |  |  | — |  |  |  | 162,837 |  |  |  | — |  |  |  | 162,837 |
Municipal Bonds-Tax Exempt |  |  | — |  |  |  | 3,482 |  |  |  | — |  |  |  | 3,482 |
Municipal Bonds-Taxable |  |  | — |  |  |  | 6,138 |  |  |  | — |  |  |  | 6,138 |
Corporate Bonds |  |  | — |  |  |  | 19,836 |  |  |  | — |  |  |  | 19,836 |
Other Securities |  |  | — |  |  |  | 3,335 |  |  |  | — |  |  |  | 3,335 |
Total Debt Securities Available for Sale |  | $ | 72,548 |  |  | $ | 308,633 |  |  | $ | — |  |  | $ | 381,181 |
Equity Securities Available for Sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial Services Industry |  | $ | 681 |  |  | $ | — |  |  | $ | — |  |  | $ | 681 |
Total Equity Securities Available for Sale |  | $ | 681 |  |  | $ | — |  |  | $ | — |  |  | $ | 681 |
Total Securities Available for Sale |  | $ | 73,229 |  |  | $ | 308,633 |  |  | $ | — |  |  | $ | 381,862 |
LIABILITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock Warrants |  | $ | — |  |  | $ | — |  |  | $ | 883 |  |  | $ | 883 |
Reconciliation and income statement classification of gains and losses for all assets and liabilities |
|  | Beginning Balance as of January 1, 2012 |  |  | Purchases, Issuances and Settlements |  |  | Realized Gains or Losses in Earnings |  |  | Unrealized Gains or Losses in Other Comprehensive Income |  |  | Transfers In and/or Out of Level 3 |  |  | Ending Balance as of June 30, 2012 |
|  | (In Thousands) |
LIABILITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock Warrants (1) |  | $ | 883 |  |  | $ | — |  |  | $ | 137 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,020 |
(1) | Reflects warrants for our common stock issued in connection with services it provided to us as a placement agent in connection with our best efforts public offering and as our financial adviser in connection with our completed rights offering. The warrants were immediately exercisable when issued at an exercise price of $9.60 per share of our common stock and expire on October 14, 2015. See “Note 8 – Stockholders’ Equity” for more details.
Assets and liabilities measured at fair value on a non-recurring basis |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  |  |  |  |  |
|  | Quoted Prices in Active Markets for Identical Assets |  |  | Significant Observable Inputs With No Active Market With Identical Characteristics |  |  | Significant Unobservable Inputs |  |  | Loss During The Three Months Ended June 30, 2012 and 2011 |  |  | Loss During The Six Months Ended June 30, 2012 and 2011 |
|  |  |  |  | (In Thousands) |  |  |  |  |  |  |  |  |  |
June 30, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ASSETS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-performing Loans Held for Sale (1) |  | $ | — |  |  | $ | — |  |  | $ | 3,489 |  |  | $ | — |  |  | $ | 657 |
Impaired Loans (2) |  | $ | — |  |  | $ | 22,694 |  |  | $ | 10,911 |  |  | $ | 2,285 |  |  | $ | 4,690 |
Other Real Estate Owned (3) |  | $ | — |  |  | $ | — |  |  | $ | 1,071 |  |  | $ | 57 |  |  | $ | 57 |
June 30, 2011 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ASSETS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-performing Loans Held for Sale (4) |  | $ | — |  |  | $ | — |  |  | $ | 18,683 |  |  | $ | 682 |  |  | $ | 9,462 |
Impaired Loans (5) |  | $ | — |  |  | $ | 33,071 |  |  | $ | 145,019 |  |  | $ | 14,314 |  |  | $ | 23,940 |
Other Real Estate Owned (6) |  | $ | — |  |  | $ | — |  |  | $ | 1,298 |  |  | $ | 203 |  |  | $ | 770 |
(1) | Includes commercial term loans of $3.0 million, and SBA loans of $484,000.
(2) | Includes real estate loans of $5.2 million, commercial and industrial loans of $27.4 million, and consumer loans of $1.0 million.
(3) | Includes properties from the foreclosure of a commercial property loan of $346,000 and a SBA loan of $725,000.
(4) | Includes commercial property loans of $418,000, commercial term loans of $12.0 million, SBA loans of $6.0 million and residential property loans of $266,000.
(5) | Includes real estate loans of $73.7 million, commercial and industrial loans of $103.7 million, and consumer loans of $732,000.
(6) | Includes properties from the foreclosure of commercial property loans of $308,000 and SBA loans of $990,000.
Estimated fair values of financial instruments |
|  | June 30, 2012 |  |  | December 31, 2011 |
|  | Carrying or Contract Amount |  |  | Estimated Fair Value |  |  | Carrying or Contract Amount |  |  | Estimated Fair Value |
|  | (In Thousands) |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents |  | $ | 304,405 |  |  | $ | 304,405 |  |  | $ | 201,683 |  |  | $ | 201,683 |
Restricted Cash |  |  | 3,819 |  |  |  | 3,819 |  |  |  | 1,818 |  |  |  | 1,818 |
Term Federal Funds |  |  | 110,000 |  |  |  | 110,153 |  |  |  | 115,000 |  |  |  | 115,173 |
Investment Securities Available for Sale |  |  | 319,154 |  |  |  | 319,154 |  |  |  | 381,862 |  |  |  | 381,862 |
Investment Securities Held to Maturity |  |  | 53,130 |  |  |  | 54,573 |  |  |  | 59,742 |  |  |  | 59,363 |
Loans Receivable, Net of Allowance for Loan Losses |  |  | 1,878,367 |  |  |  | 1,830,880 |  |  |  | 1,849,020 |  |  |  | 1,802,511 |
Loans Held for Sale |  |  | 5,138 |  |  |  | 5,138 |  |  |  | 22,587 |  |  |  | 22,587 |
Accrued Interest Receivable |  |  | 7,168 |  |  |  | 7,168 |  |  |  | 7,829 |  |  |  | 7,829 |
Investment in Federal Home Loan Bank Stock |  |  | 20,687 |  |  |  | 20,687 |  |  |  | 22,854 |  |  |  | 22,854 |
Investment in Federal Reserve Bank Stock |  |  | 10,261 |  |  |  | 10,261 |  |  |  | 8,558 |  |  |  | 8,558 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Noninterest-Bearing Deposits |  |  | 679,085 |  |  |  | 679,085 |  |  |  | 634,466 |  |  |  | 634,466 |
Interest-Bearing Deposits |  |  | 1,706,022 |  |  |  | 1,712,021 |  |  |  | 1,710,444 |  |  |  | 1,710,878 |
Borrowings |  |  | 85,528 |  |  |  | 85,616 |  |  |  | 85,709 |  |  |  | 83,853 |
Accrued Interest Payable |  |  | 14,882 |  |  |  | 14,882 |  |  |  | 16,032 |  |  |  | 16,032 |
Off-Balance Sheet Items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commitments to Extend Credit |  |  | 196,079 |  |  |  | 220 |  |  |  | 158,748 |  |  |  | 194 |
Standby Letters of Credit |  |  | 10,949 |  |  |  | 37 |  |  |  | 12,742 |  |  |  | 26 |

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 33 -Subparagraph a, b -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 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19296-110258 + Details
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- Definition Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 14 -Subparagraph a -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 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 18 -Subparagraph c(2), d, e, f -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 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 15 -Subparagraph b-d -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 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13467-108611 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 19 -Subparagraph a, b, c(1), d(1) -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 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph a, c(1), c(2), c(3), d -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 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 10 -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 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13476-108611 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258 + Details
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