Parent Company Only Condensed Financial Information (Tables)

12 Months Ended

Dec. 31, 2012

CONDENSED BALANCE SHEETS


	2012		2011
Assets
Cash and cash equivalents	$	4,673	$	560
Investment in banking subsidiary		23,060		13,827
Investment in and advances to other subsidiaries		1,226		1,212
Other assets		—		264

Total assets	$	28,959	$	15,863

Liabilities and Equity
Subordinated debentures	$	5,155	$	5,155
Accrued expenses and other liabilities		161		764
Stockholders’ equity		23,643		9,944

Total liabilities and stockholders’ equity	$	28,959	$	15,863

CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS


	2012			2011			2010
Interest income	$	3		$	—		$	—
Interest expense		180			168			167
Other expense		400			663			567

Loss before income tax and undistributed subsidiaries’ operations		(577	)		(831	)		(734	)
Effect of subsidiaries’ operations		(3,189	)		(4,594	)		(6,136	)

Net loss	$	(3,766	)	$	(5,425	)	$	(6,870	)

Comprehensive loss	$	(4,045	)	$	(5,711	)	$	(6,902	)

CONDENSED STATEMENTS OF CASH FLOWS


	2012			2011			2010
Cash flows from operating activities
Net loss	$	(3,766	)	$	(5,425	)	$	(6,870	)
Adjustments:
Effect of subsidiaries’ operations		3,189			4,594			6,136
Stock-based compensation expense		—			—			2
Change in other assets and other liabilities		173			11			(51	)

Net cash from operating activities		(404	)		(820	)		(783	)
Cash flows from investing activities
Investments in banking subsidiary		(13,500	)		—			—
Investments in other subsidiaries		(3	)		635			(8	)

Net cash from investing activities		(13,503	)		635			(8	)
Cash flows from financing activities
Dividends paid		—			—			(271	)
Redemption of TARP obligation		(3,000	)		—			—
Net proceeds from issuance of common stock		21,020			—			—

Net cash from financing activities		18,020			—			(271	)
Net change in cash and cash equivalents		4,113			(185	)		(1,062	)
Beginning cash and cash equivalents		560			745			1,807

Ending cash and cash equivalents	$	4,673		$	560		$	745