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Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2011
Dec. 31, 2010
Interest Income:        
Loans $ 6,416 $ 8,021 $ 20,076 $ 25,656
Mortgage-backed securities 279 460 1,018 1,572
Investment securities 114 105 340 263
Money market investments 102 19 151 77
Total interest income 6,911 8,605 21,585 27,568
Interest expense:        
Deposits 1,069 1,366 3,012 4,386
Advances and other borrowed money 785 960 2,560 2,984
Total interest expense 1,854 2,326 5,572 7,370
Net interest income 5,057 6,279 16,013 20,198
Provision for loan losses 113 6,242 12,290 20,318
Net interest income after provision for loan losses 4,944 37 3,723 (120)
Non-interest income:        
Depository fees and charges 740 725 2,212 2,224
Loan fees and service charges 203 183 689 618
Gain on sale of securities, net 0 1 0 764
Gain on sales of loans, net 19 (1) 154 7
New Market Tax Credit (“NMTC”) fees 0 473 0 1,654
Lower of cost or market adjustment on loans held for sale (530) 0 (905) 0
Other 121 349 323 569
Total non-interest income 553 1,730 2,473 5,836
Non-interest expense:        
Employee compensation and benefits 3,006 2,664 9,188 8,771
Net occupancy expense 903 928 2,805 2,880
Equipment, net 545 587 1,625 1,672
Consulting fees 165 498 370 1,043
Federal deposit insurance premiums 368 502 1,177 1,253
Other 2,789 2,459 7,531 7,120
Total non-interest expense 7,776 7,638 22,696 22,739
Loss before income taxes (2,279) (5,871) (16,500) (17,023)
Income tax benefit (1,004) 2,317 (927) 17,018
Non Controlling interest, net of taxes (595) 0 687 0
Net loss $ (680) $ (8,188) $ (16,260) $ (34,041)
Loss per common share: $ (0.26) $ (49.58) $ (16.81) $ (207.67)