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TARP Repurchase | 6 Months Ended
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Jun. 30, 2012
TARP Repurchase [Abstract] |
TARP Repurchase |
(8) | TARP Repurchase
The Company purchased 12,530 shares of the Company's 25,054 outstanding shares of preferred stock from the U.S. Department of the Treasury ("UST"), which was issued to UST in connection with the Company's participation in the Capital Purchase Program ("CPP") under the Troubled Asset Relief Program ("TARP") in 2008. The shares were purchased for $933.36 per share, for a total purchase price of $11,778,575.90, including $83,575.10 accrued and unpaid dividends on the preferred stock. The Company retired the 12,530 shares purchased. The $834,999.20 difference between the $12,530,000 face value of the preferred stock retired and the $11,695,000.80 purchase price of the preferred stock retired was credited to retained earnings effective June 30, 2012.

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- Definition The entire disclosure for TARP Repurchase. + References No definition available. + Details
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