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PARENT COMPANY FINANCIAL INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2012
PARENT COMPANY FINANCIAL INFORMATION [Abstract] |
Balance Sheets |
|  | AT DECEMBER 31,
|  | 2012 |  | 2011
|  | (IN THOUSANDS)
ASSETS |  |  |  |  |  |  |  |
Cash |  | $ | 100 |  |  | $ | 100 |
Short-term investments in money market funds |  |  | 6,085 |  |  |  | 4,430 |
Investment securities available for sale |  |  | 10,534 |  |  |  | 11,269 |
Equity investment in banking subsidiary |  |  | 99,121 |  |  |  | 103,010 |
Equity investment in non-banking subsidiaries |  |  | 5,017 |  |  |  | 4,888 |
Guaranteed junior subordinated deferrable interest debenture issuance costs |  |  | 240 |  |  |  | 256 |
Other assets |  |  | 2,713 |  |  |  | 2,604 |
TOTAL ASSETS |  | $ | 123,810 |  |  | $ | 126,557 |
LIABILITIES |  |  |  |  |  |  |  |
Guaranteed junior subordinated deferrable interest debentures |  | $ | 13,085 |  |  | $ | 13,085 |
Other liabilities |  |  | 257 |  |  |  | 1,120 |
TOTAL LIABILITIES |  |  | 13,342 |  |  |  | 14,205 |
STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |
Total stockholders' equity |  |  | 110,468 |  |  |  | 112,352 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |  | $ | 123,810 |  |  | $ | 126,557 |
Statements of Operations |
|  | YEAR ENDED DECEMBER 31,
|  | 2012 |  | 2011 |  | 2010
|  | (IN THOUSANDS)
INCOME |  |  |  |  |  |  |  |  |  |  |  |
Inter-entity management and other fees |  | $ | 2,355 |  |  | $ | 2,329 |  |  | $ | 2,362 |
Dividends from banking subsidiary |  |  | 8,000 |  |  |  | 2,500 |  |  |  | - |
Dividends from non-banking subsidiaries |  |  | 710 |  |  |  | 620 |  |  |  | 205 |
Interest and dividend income |  |  | 306 |  |  |  | 415 |  |  |  | 499 |
TOTAL INCOME |  |  | 11,371 |  |  |  | 5,864 |  |  |  | 3,066 |
EXPENSE |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | 1,121 |  |  |  | 1,121 |  |  |  | 1,121 |
Salaries and employee benefits |  |  | 2,368 |  |  |  | 2,394 |  |  |  | 2,333 |
Other expense |  |  | 1,582 |  |  |  | 1,477 |  |  |  | 1,529 |
TOTAL EXPENSE |  |  | 5,071 |  |  |  | 4,992 |  |  |  | 4,983 |
INCOME (LOSS) BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED EARNINGS OF SUBSIDIARIES |  |  | 6,300 |  |  |  | 872 |  |  |  | (1,917 | )
Benefit for income taxes |  |  | 819 |  |  |  | 764 |  |  |  | 722 |
Equity in undistributed earnings of subsidiaries |  |  | (2,080) |  |  |  | 4,901 |  |  |  | 2,477 |
NET INCOME |  | $ | 5,039 |  |  | $ | 6,537 |  |  | $ | 1,282 |
COMPREHENSIVE INCOME |  | $ | 3,320 |  |  | $ | 7,739 |  |  | $ | 793 |
Statements of Cash Flows |
|  | YEAR ENDED DECEMBER 31,
|  | 2012 |  | 2011 |  | 2010
|  | (IN THOUSANDS)
OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 5,039 |  |  | $ | 6,537 |  |  | $ | 1,282 |
Adjustment to reconcile net income to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed earnings of subsidiaries |  |  | 2,080 |  |  |  | (4,901 | ) |  |  | (2,477 | )
Stock compensation expense |  |  | 38 |  |  |  | 15 |  |  |  | 61 |
Other - net |  |  | (989) |  |  |  | (285 | ) |  |  | (107 | )
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES |  |  | 6,168 |  |  |  | 1,366 |  |  |  | (1,241 | )
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |
Purchase of investment securities - available for sale |  |  | (2,077) |  |  |  | (3,049 | ) |  |  | (4,044 | )
Proceeds from maturity of investment securities - available for sale |  |  | 2,809 |  |  |  | 5,942 |  |  |  | 7,050 |
Capital contribution to banking subsidiary |  |  | - |  |  |  | - |  |  |  | (1,000 | )
NET CASH PROVIDED BY INVESTING ACTIVITIES |  |  | 732 |  |  |  | 2,893 |  |  |  | 2,006 |
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |
Purchase of treasury stock |  |  | (4,417) |  |  |  | (582 | ) |  |  | - |
Warrant repurchase |  |  | - |  |  |  | (825 | ) |  |  | - |
Preferred stock dividends paid |  |  | (828) |  |  |  | (1,054 | ) |  |  | (1,050 | )
NET CASH USED IN FINANCING ACTIVITIES |  |  | (5,245) |  |  |  | (2,461 | ) |  |  | (1,050 | )
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  |  | 1,655 |  |  |  | 1,798 |  |  |  | (285 | )
CASH AND CASH EQUIVALENTS AT JANUARY 1 |  |  | 4,530 |  |  |  | 2,732 |  |  |  | 3,017 |
CASH AND CASH EQUIVALENTS AT DECEMBER 31 |  | $ | 6,185 |  |  | $ | 4,530 |  |  | $ | 2,732 |

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