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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
INTEREST INCOME      
Loans $ 46,369 $ 36,509 $ 39,570
Investment securities and other interest-earning assets 3,856 4,594 3,869
Total interest income 50,225 41,103 43,439
Interest-bearing deposits:      
Interest on transaction accounts 1,548 1,710 1,429
Interest on certificates of deposit 6,740 7,901 11,618
Total interest-bearing deposits 8,288 9,611 13,047
FHLB advances and other borrowings 998 2,741 6,839
Subordinated debentures 310 314 368
Total interest expense 9,596 12,666 20,254
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES 40,629 28,437 23,185
PROVISION FOR LOAN LOSSES 3,255 2,092 7,735
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 37,374 26,345 15,450
NONINTEREST INCOME (LOSS)      
Loan servicing fees 1,060 400 486
Deposit fees 2,195 817 851
Net loss from sales of loans (3,605) (3,332) (351)
Net gain from sales of investment securities 1,589 1,020 687
Other-than-temporary impairment loss on investment securities, net (617) (1,087) (2,030)
Gain on FDIC transaction 4,189    
Other income 1,702 1,106 1,054
Total noninterest income (loss) 6,513 (1,076) 697
NONINTEREST EXPENSE      
Compensation and benefits 13,205 8,483 8,047
Premises and occupancy 3,501 2,623 2,559
Data processing and communications 1,419 806 633
Other real estate owned operations, net 1,497 1,371 373
FDIC insurance premiums 809 1,258 1,382
Legal and audit 1,438 1,134 797
Marketing expense 1,287 786 664
Office and postage expense 850 530 295
Other expense 2,898 1,957 1,944
Total noninterest expense 26,904 18,948 16,694
INCOME (LOSS) BEFORE INCOME TAX (BENEFIT) 16,983 6,321 (547)
INCOME TAX (BENEFIT) 6,411 2,083 (87)
NET INCOME (LOSS) $ 10,572 $ 4,238 $ (460)
EARNINGS (LOSS) PER SHARE      
Basic (in dollars per share) $ 1.05 $ 0.42 $ (0.08)
Diluted (in dollars per share) $ 0.99 $ 0.38 $ (0.08)
WEIGHTED AVERAGE SHARES OUTSTANDING      
Basic (in shares) 10,092,181 10,033,836 5,642,589
Diluted (in shares) 10,630,720 11,057,404 5,642,589