Note 3 – Investment Securities

As discussed in Note 2, due to the deconsolidation of the Bank during the second quarter of 2011, no investment securities are reported on the Company’s consolidated balance sheet as of June 30, 2011. The amortized cost, estimated fair value and the related gross unrealized gains and losses recognized in accumulated other comprehensive income of investment securities available for sale at December 31, 2010 are presented below:

(Successor Company)	December 31, 2010
	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
U.S. Government agencies and corporations	$	40,980	$	15	$	296	$	40,699
States and political subdivisions—tax exempt		3,082		2		25		3,059
States and political subdivisions—taxable		2,308		-		151		2,157
Marketable equity securities		102		-		28		74
Mortgage-backed securities—residential		372,409		946		4,152		369,203
Corporate bonds		2,104		1		-		2,105
Collateralized debt obligation		807		-		12		795
	$	421,792	$	964	$	4,664	$	418,092

Proceeds from sales and calls of securities available for sale were $17,550 and $20,144 for the three and six months ended June 30, 2011, respectively. Gross gains of approximately $0 and $12 were realized on these sales and calls during the three and six months ended June 30, 2011, respectively.

Securities with unrealized losses not recognized in income, and the period of time they have been in an unrealized loss position, are as follows:

(Successor Company)	Less than 12 Months				12 Months or Longer				Total
December 31, 2010	Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses
U.S. Government agencies and corporations	$	14,304	$	296		-		-	$	14,304	$	296
States and political subdivisions—tax exempt		2,458		25		-		-		2,458		25
States and political subdivisions-taxable		2,157		151		-		-		2,157		151
Marketable equity securities		74		28		-		-		74		28
Mortgage-backed securities - residential		213,153		4,152		-		-		213,153		4,152
Corporate bonds		-		-		-		-		-		-
Collateralized debt obligation		795		12		-		-		795		12
Total temporarily impaired	$	232,941	$	4,664	$	-	$	-	$	232,941	$	4,664