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Parent Company Only Financial Statements (Tables)

12 Months Ended

Dec. 31, 2012

Parent Company Only Financial Statements [Abstract]

Schedule of Balance Sheets


		2012				2011
Assets
Cash		$	6,406			$	124
Investment in subsidiaries, at cost, plus undistributed net income			47,272				45,725
Other assets			496				563

Total assets		$	54,174			$	46,412


Liabilities and Shareholders’ Equity

Trust preferred capital notes		$	9,279			$	9,279
Other liabilities			6				37

Total liabilities		$	9,285			$	9,316

Preferred stock		$	14,409			$	14,263
Common stock			6,127				3,695
Surplus			6,813				1,644
Retained earnings, which are substantially undistributed earnings of subsidiaries			18,399				16,503
Accumulated other comprehensive income (loss), net			(859	)			991

Total shareholders’ equity		$	44,889			$	37,096

Total liabilities and shareholders’ equity		$	54,174			$	46,412

Schedule of Statements of Operations


		2012				2011				2010
Income
Dividends from subsidiary		$	500			$	1,600			$	2,575
Gain on sale of securities available for sale			139				—				—
Other income			41				—				11

		$	680			$	1,600			$	2,586

Expense
Interest expense		$	237			$	386			$	439
Stationery and supplies			1				14				18
Legal and professional fees			—				—				20
Other expense			6				78				53

Total expense		$	244			$	478			$	530

Income before allocated tax benefits and undistributed income (loss) of subsidiary		$	436			$	1,122			$	2,056

Allocated income tax benefits			22				162				176

Income before equity in undistributed income (loss) of subsidiary		$	458			$	1,284			$	2,232

Equity in undistributed income (loss) of subsidiary			2,342				(12,245	)			(5,835	)

Net income (loss)		$	2,800			$	(10,961	)		$	(3,603	)

Effective dividend and accretion on preferred stock			903				894				887

Net income (loss) available to common shareholders		$	1,897			$	(11,855	)		$	(4,490	)

Schedule of Statements of Cash Flows


		2012				2011				2010
Cash Flows from Operating Activities
Net income (loss)		$	2,800			$	(10,961	)		$	(3,603	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity in undistributed (income) loss of subsidiary			(2,342	)			12,245				5,835
Gain on sale of securities available for sale			(139	)			—				—
Compensation expense for ESOP shares allocated			—				—				42
(Increase) decrease in other assets			(42	)			45				(23	)
Increase (decrease) in other liabilities			(2	)			2				(9	)

Net cash provided by operating activities		$	275			$	1,331			$	2,240

Cash Flows from Investing Activities
Proceeds from sale of securities available for sale		$	164			$	—			$	—

Cash Flows from Financing Activities
Principal payments on other borrowings		$	—			$	—			$	(42	)
Distribution of capital to subsidiary			(1,000	)			—				—
Cash dividends paid on common stock			—				(540	)			(1,433	)
Cash dividends paid on preferred stock			(758	)			(758	)			(758	)
Net proceeds from issuance of common stock			7,601				—				—
Shares issued to leveraged ESOP			—				—				(26	)

Net cash used in financing activities		$	5,843			$	(1,298	)		$	(2,259	)

Increase (decrease) in cash and cash equivalents		$	6,282			$	33			$	(19	)

Cash and Cash Equivalents
Beginning			124				91				110

Ending		$	6,406			$	124			$	91