v2.4.0.6
Segment Reporting
 12 Months Ended
Dec. 31, 2011
Segment Reporting [Abstract]  
Segment Reporting

16.   SEGMENT REPORTING

Under ASC Topic 280, Segment Reporting, certain information is disclosed for the two reportable operating segments of the Company: FUSB, ALC and all other (primarily FUSB Reinsurance). The reportable segments were determined using the internal management reporting system. These segments are composed of the Company's and the Bank's significant subsidiaries. The accounting policies for each segment are the same as those described in Note 2, "Summary of Significant Accounting Policies." The segment results include certain overhead allocations and intercompany transactions that were recorded at current market prices. All intercompany transactions have been eliminated to determine the consolidated balances. The results for the two reportable segments of the Company are included in the following table:

 

    2011  
    FUSB     ALC      All
Other		     Eliminations     Consolidated  
    (Dollars in Thousands)  

Total interest income

   $ 28,939      $ 18,525       $ 60      $ (5,178 )    $ 42,346   

Total interest expense

     7,074        5,122         —          (5,178 )      7,018   
 

 

 

    

 

 

     

 

 

    

 

 

    

 

 

  

Net interest income

     21,865        13,403         60        —          35,328   

Provision for loan losses

     15,893        2,909         —          —          18,802   
 

 

 

    

 

 

     

 

 

    

 

 

    

 

 

  

Net interest income after provision

     5,972        10,494         60        —          16,526   

Total non-interest income

     6,896        1,565         1,003        (736 )      8,728   

Total non-interest expense

     27,651        11,104         2,269        (736 )      40,288   
 

 

 

    

 

 

     

 

 

    

 

 

    

 

 

  

Income (loss) before income taxes

     (14,783 )      955         (1,206 )      —          (15,034 ) 

(Benefit from) provision for income taxes

     (6,342 )      375         9        —          (5,958 ) 
 

 

 

    

 

 

     

 

 

    

 

 

    

 

 

  

Net income (loss)

     (8,441 )      580         (1,215 )      —          (9,076 ) 
 

 

 

    

 

 

     

 

 

    

 

 

    

 

 

  

Less: Net loss attributable to noncontrolling interest

     —          —           (1 )      —          (1 ) 
 

 

 

    

 

 

     

 

 

    

 

 

    

 

 

  

Net income (loss) attributable to USBI

   $ (8,441 )    $ 580       $ (1,214 )    $ —        $ (9,075 ) 
 

 

 

    

 

 

     

 

 

    

 

 

    

 

 

  

Other significant items:

           

Total assets

   $ 609,943      $ 85,510       $ 72,445      $ (146,089 )    $ 621,810   

Total investment securities

     123,265        —           75        —          123,340   

Total loans, net

     375,718        78,135         —          (72,768 )      381,085   

Goodwill

     —          —           —          —          —     

Investment in subsidiaries

     1,326        —           67,059        (68,380 )      5   

Fixed asset addition

     333        168         —          —          501   

Depreciation and amortization expense

     563        133         —          —          696   

Total interest income from external customers

     23,816        18,525         5        —          42,346   

Total interest income from affiliates

     5,123        —           55        (5,178 )      —     

 

    2010  
    (Restated)  
    FUSB     ALC      All
Other		     Eliminations     Consolidated  
    (Dollars in Thousands)  

Total interest income

   $ 32,240      $ 18,226       $ 67      $ (5,705 )    $ 44,828   

Total interest expense

     10,129        5,649         —          (5,705 )      10,073   
 

 

 

    

 

 

     

 

 

    

 

 

    

 

 

  

Net interest income

     22,111        12,577         67        —          34,755   

Provision for loan losses

     16,808        2,323         —          —          19,131   
 

 

 

    

 

 

     

 

 

    

 

 

    

 

 

  

Net interest income after provision

     5,303        10,254         67        —          15,624   

Total non-interest income

     6,932        4,859         939        (2,564 )      10,166   

Total non-interest expense

     23,894        9,429         1,363        (2,564 )      32,122   
 

 

 

    

 

 

     

 

 

    

 

 

    

 

 

  

Income (loss) before income taxes

     (11,659 )      5,684         (357 )      —          (6,332 ) 

(Benefit from) provision for income taxes

     (5,189 )      2,144         19        —          (3,026 ) 
 

 

 

    

 

 

     

 

 

    

 

 

    

 

 

  

Net income (loss)

   $ (6,470 )    $ 3,540       $ (376 )    $ —        $ (3,306 ) 
 

 

 

    

 

 

     

 

 

    

 

 

    

 

 

  

Less: Net loss attributable to noncontrolling interest

     —          —           (125 )      —          (125 ) 
 

 

 

    

 

 

     

 

 

    

 

 

    

 

 

  

Net income (loss) attributable to USBI

   $ (6,470 )    $ 3,540       $ (251 )    $ —        $ (3,181 ) 
 

 

 

    

 

 

     

 

 

    

 

 

    

 

 

  

Other significant items:

           

Total assets

   $ 611,098      $ 91,220       $ 95,057      $ (175,636 )    $ 621,739   

Total investment securities

     136,803        —           284        —          137,087   

Total loans, net

     389,644        80,724         —          (82,890 )      387,478   

Goodwill

     3,112        —           986        —          4,098   

Investment in subsidiaries

     1,411        48         80,689        (82,087 )      61   

Fixed asset addition

     285        64         —          —          349   

Depreciation and amortization expense

     601        155         —          —          756   

Total interest income from external customers

     26,592        18,225         11        —          44,828   

Total interest income from affiliates

     5,648        —           57        (5,705 )      —