XML 126 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
Capital Requirements
 6 Months Ended
Jun. 30, 2013
Banking And Thrift [Abstract]  
Capital Requirements

Note 7. Capital Requirements

A comparison of the capital of the Company and the Bank at June 30, 2013 and December 31, 2012 with the minimum regulatory guidelines were as follows:

 

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

June 30, 2013:

                

Total Capital (to Risk Weighted Assets):

                

Consolidated

    $ 60,623         15.94 %    $ 30,433         8.00 %      N/A         N/A   

First Bank

    $ 54,198         14.26 %    $ 30,399         8.00 %    $ 37,999         10.00 % 

Tier 1 Capital (to Risk Weighted Assets):

                

Consolidated

    $ 55,773         14.66 %    $ 15,216         4.00 %      N/A         N/A   

First Bank

    $ 49,353         12.99 %    $ 15,199         4.00 %    $ 22,799         6.00 % 

Tier 1 Capital (to Average Assets):

                

Consolidated

    $ 55,773         10.33 %    $ 21,598         4.00 %      N/A         N/A   

First Bank

    $ 49,353         9.13 %    $ 21,616         4.00 %    $ 27,020         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.