XML 11 R39.htm IDEA: XBRL DOCUMENT v2.4.0.6
Business Combinations (Details Textual) (USD $)
 3 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2012
Dec. 31, 2011
Jun. 30, 2012
Waccamaw Bank [Member]
Jun. 30, 2012
Waccamaw Bank [Member]
Number
Jun. 08, 2012
Waccamaw Bank [Member]
Jun. 30, 2012
Peoples Bank of Virginia [Member]
May 31, 2012
Peoples Bank of Virginia [Member]
Business Combinations (Textual) [Abstract]                
Assets held on acquisition date by acquiree               $ 276,880,000
Loans               184,840,000
Deposit held on acquisition date by acquiree               232,750,000
Common equity               43,380,000
Cash received             $ 6.08  
Common Stock             $ 1.07  
Purchase Price common stock 40,277,000 40,277,000         40,280,000  
Common Stock valued 26,469,000 26,469,000         26,470,000  
Total cash consideration of common stock 12,259,000 12,259,000         12,260,000  
Common stock issued             2,157,005  
Market price of common stock               $ 12.27
Additions to goodwill       7,130,000 7,130,000   9,020,000  
Estimated fair value useful life         P1Y      
Number of operating branches of waccamaw bank         16      
Discount received by bank on asset acquired         15,000,000      
FDIC loan and foreclosed real estate losses           80.00%    
FDIC in connection with the acquisition. 52,067,000 52,067,000    17,270,000 17,270,000 52,067,000    
Goodwill was recorded as part of the acquisition of Waccamaw       7,130,000 7,130,000   9,020,000  
FDIC loss sharing and bank reimbursements         10 years      
FDIC loss sharing for commercial assets period         5 years      
Bank reimbursement period on commercial assets to FDIC         8 years      
Noninterest income included pre-tax gain   9,016,000   0 0      
Recognized in merger-related expense from Waccamaw acquisition 3,419,000 3,582,000   594,000 594,000      
Business Combinations (Additional Textual) [Abstract]                
Additions to core deposits intangibles 0 0            
Expenses incurred related to acquisition 2,830,000 2,990,000            
Share agreement estimated payment to FDIC   0            
Loss sharing agreement true up estimated eliminated term excess of current estimated over actual loss   $ 0            
Lease option expiration period 30 days 30 days            
Lease repudiation period 90 days 90 days