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Capital Requirements
 3 Months Ended
Mar. 31, 2013
Capital Requirements [Abstract]  
Capital Requirements
Note 7. Capital Requirements

A comparison of the capital of the Company and the Bank at March 31, 2013 and December 31, 2012 with the minimum regulatory guidelines were as follows:

 

                                                 
                            Minimum  
                (dollars in thousands)     To Be Well  
    Actual     Minimum Capital
Requirement		     Capitalized Under
Prompt Corrective
Action Provisions		  
    Amount     Ratio     Amount     Ratio     Amount     Ratio  

March 31, 2013:

                                                

Total Capital (to Risk Weighted Assets):

                                                

Consolidated

   $ 60,580       15.82 %    $ 30,628       8.00 %      N/A       N/A  

First Bank

   $ 53,899       14.09 %    $ 30,608       8.00 %    $ 38,260       10.00 % 

Tier 1 Capital (to Risk Weighted Assets):

                                                

Consolidated

   $ 55,696       14.55 %    $ 15,314       4.00 %      N/A       N/A  

First Bank

   $ 49,018       12.81 %    $ 15,304       4.00 %    $ 22,956       6.00 % 

Tier 1 Capital (to Average Assets):

                                                

Consolidated

   $ 55,696       10.51 %    $ 21,186       4.00 %      N/A       N/A  

First Bank    

   $ 49,018       9.26 %    $ 21,176       4.00 %    $ 26,469       5.00 % 

December 31, 2012:

                                                

Total Capital (to Risk Weighted Assets):

                                                

Consolidated

   $ 59,876       15.34 %    $ 31,220       8.00 %      N/A       N/A  

First Bank

   $ 52,980       13.59 %    $ 31,197       8.00 %    $ 38,996       10.00 % 

Tier 1 Capital (to Risk Weighted Assets):

                                                

Consolidated

   $ 54,897       14.07 %    $ 15,610       4.00 %      N/A       N/A  

First Bank

   $ 48,004       12.31 %    $ 15,599       4.00 %    $ 23,398       6.00 % 

Tier 1 Capital (to Average Assets):

                                                

Consolidated

   $ 54,897       10.47 %    $ 20,971       4.00 %      N/A       N/A  

First Bank

   $ 48,004       9.15 %    $ 20,974       4.00 %    $ 26,218       5.00 % 

On June 29, 2012, the Company completed the sale of 1,945,815 shares of common stock in a rights offering and to certain standby investors. The Company’s existing shareholders exercised subscription rights to purchase 1,520,815 shares at a subscription price of $4.00 per share, and the standby investors purchased an additional 425,000 shares at the same price of $4.00 per share. In total, the Company raised net proceeds of $7.6 million.