10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

FORM 10-Q/A

(Amendment No. 1)

x Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended June 30, 2012

or

¨ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from ______ to _____

Commission File Number 0-23971

Citizens South Banking Corporation

(Exact name of registrant as specified in its charter)

Delaware	54-2069979
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification Number)

519 South New Hope Road, Gastonia, NC	28054
(Address of principal executive offices)	(Zip code)

(704) 868-5200

(Registrant's telephone number, including area code)

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes x    No ­¨

Indicate by check mark whether the Registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports).  Yes x    No ­¨

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See definitions of “accelerated filer”, “large accelerated filer” and “small reporting company” in Rule 12b-2 of the Exchange Act. (Check one)

Large accelerated filer¨                                                                                                         Accelerated filer   ­¨

Non-accelerated filer¨                                                                                                           Smaller Reporting Company  x

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.)  Yes¨   No ­x

As of August 14, 2012, there were 11,506,324 shares outstanding of the Registrant’s common stock, $0.01 par value.

Explanatory Note

Citizens South Banking Corporation is filing this Form 10-Q/A (Amendment No. 1) to our quarterly report on Form 10-Q for the quarter ended June 30, 2012, that was filed with the Securities and Exchange Commission on August 14, 2012, for the sole purpose of furnishing the XBRL Interactive Data Files as Exhibit 101.  No other changes have been made to the Form 10-Q.

This Form 10-Q/A continues to speak to the original filing date of the Form 10-Q and does not reflect any events that may have occurred after the original filing date and does not modify or update any disclosures made in the original filing.

Item 6.  Exhibits

31.1 (*) Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2 (*) Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1 (*) Written statement of Chief Executive Officer furnished pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

32.2 (*) Written statement of Chief Financial Officer furnished pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101       Financial statements and related notes formatted in XBRL.

(*)       Previously filed on Form 10-Q for the quarterly period ended June 30, 2012, with the Securities and Exchange Commission on August 14, 2012.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Citizens South Banking Corporation

Date: September 11, 2012                                                                    By:  /s/ Gary F. Hoskins

Gary F. Hoskins

Executive Vice President, Chief Financial Officer and Treasurer

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Note 5 - Investment Securities (Detail) - Fair Values and Unrealized Losses of the Investment Portfolio (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Available for Sale:
Available for sale securities less than 12 months fair value	$ 3,493	$ 4,784
Available for sale securities less than 12 months unrealized losses	13	101
Available for sale securities 12 months or more fair value	240	117
Available for sale securities 12 months or more unrealized losses	120	73
Available for sale securities fair value	3,733	4,901
Available for sale securities unrealized losses	133	174
Held to Maturity:
Held to maturity securities less than 12 months fair value	896	2,993
Held to maturity securities less than 12 months unrealized losses	104	7
Held to maturity securities 12 months or more fair value	2,918	2,848
Held to maturity securities 12 months or more unrealized losses	82	152
Held to maturity securities fair value	3,814	5,841
Held to maturity securities unrealized losses	186	159
Securities less than 12 months fair value	4,389	7,777
Securities less than 12 months unrealized losses	117	108
Securities 12 months or more fair value	3,158	2,965
Securities 12 months or more unrealized losses	202	225
Securities fair value	7,547	10,742
Securities unrealized losses	319	333
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
Available for Sale:
Available for sale securities less than 12 months fair value	3,493	4,619
Available for sale securities less than 12 months unrealized losses	13	8
Available for sale securities 12 months or more fair value		88
Available for sale securities fair value	3,493	4,707
Available for sale securities unrealized losses	13	8
Other Securities [Member]
Available for Sale:
Available for sale securities less than 12 months fair value		165
Available for sale securities less than 12 months unrealized losses		93
Available for sale securities 12 months or more fair value	240	29
Available for sale securities 12 months or more unrealized losses	120	73
Available for sale securities fair value	240	194
Available for sale securities unrealized losses	120	166
Held to Maturity:
Held to maturity securities less than 12 months fair value	896	997
Held to maturity securities less than 12 months unrealized losses	104	3
Held to maturity securities 12 months or more fair value	2,918	2,848
Held to maturity securities 12 months or more unrealized losses	82	152
Held to maturity securities fair value	3,814	3,845
Held to maturity securities unrealized losses	186	155
US Government Agencies Debt Securities [Member]
Held to Maturity:
Held to maturity securities less than 12 months fair value		1,996
Held to maturity securities less than 12 months unrealized losses		4
Held to maturity securities fair value		1,996
Held to maturity securities unrealized losses		$ 4

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Note 12 - Commitments (Detail) - Commitments to Extend Credit (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Loan commitments
Loan Commitments	$ 10,218	$ 24,484
Unused lines of credit
Unused Lines of Credit	109,485	110,471
Undisbursed Construction Loan Proceeds	795	1,200
Residential Mortgage Loans [Member]
Loan commitments
Loan Commitments	10,218	24,484
Residential Construction Loans [Member]
Unused lines of credit
Unused Lines of Credit	8,260	7,390
Commercial Real Estate Loans [Member]
Unused lines of credit
Unused Lines of Credit	15,738	18,593
Commercial Business Loans [Member]
Unused lines of credit
Unused Lines of Credit	10,962	9,558
Construction Loans [Member]
Unused lines of credit
Unused Lines of Credit	$ 74,525	$ 74,930

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Note 8 - Allowance for Loan Losses (Detail) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Loans and Leases Receivable, Net Reported Amount, Covered	$ 128,900,000		$ 128,900,000
Percentage of Loan Losses Covered by FDIC	80.00%		80.00%
Provision for Loan Losses Expensed	2,555,000	1,700,000	8,855,000	4,700,000
Excluded from Company's Adequacy Evaluation [Member]
Loans and Leases Receivable, Net Reported Amount, Covered	128,900,000		128,900,000
Acquired Loans [Member]
Provision for Loan Losses Expensed			$ 505,000

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Note 13 - Fair Value Measurements (Detail)	3 Months Ended	12 Months Ended
	Mar. 31, 2012	Dec. 31, 2011
Impaired Loans [Member] | Minimum [Member]
Fair Value Inputs, Discount Rate	0.00%	0.00%
Impaired Loans [Member] | Maximum [Member]
Fair Value Inputs, Discount Rate	30.00%	30.00%
Minimum [Member] | Other Real Estate Owned [Member]
Fair Value Inputs, Discount Rate	0.00%	0.00%
Maximum [Member] | Other Real Estate Owned [Member]
Fair Value Inputs, Discount Rate	30.00%	30.00%

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Note 7 - Credit Quality of Loans (Detail) - Impaired Loans (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Recorded Investment	$ 28,500	$ 30,042
Unpaid Principal Balance	35,247	35,821
Net Principal Balance	27,565	29,372
One-to-Four Family Residential [Member]
Recorded Investment	4,696	2,781
Unpaid Principal Balance	5,143	2,739
Net Principal Balance	4,488	2,739
Commercial Land Loans [Member]
Recorded Investment	3,355	3,062
Unpaid Principal Balance	4,343	4,523
Net Principal Balance	3,194	2,826
Residential Development [Member]
Recorded Investment	3,679	8,428
Unpaid Principal Balance	5,427	10,173
Net Principal Balance	3,472	8,262
Commercial Real Estate - Office [Member]
Recorded Investment	7,449	6,322
Unpaid Principal Balance	8,584	7,573
Net Principal Balance	7,375	6,305
Commercial Real Estate - Residential Rental [Member]
Recorded Investment	2,288	4,076
Unpaid Principal Balance	2,933	4,808
Net Principal Balance	2,244	4,029
Owner Occupied Commercial Real Estate [Member]
Recorded Investment	2,721
Unpaid Principal Balance	3,301
Net Principal Balance	2,614
Other Commercial Real Estate Loans [Member]
Recorded Investment	2,188	2,426
Unpaid Principal Balance	2,585	2,945
Net Principal Balance	2,168	2,323
Consumer Real Estate Loans [Member]
Recorded Investment	1,158	2,689
Unpaid Principal Balance	1,968	2,801
Net Principal Balance	1,047	2,630
Commercial Business Loans [Member]
Recorded Investment	948	169
Unpaid Principal Balance	945	169
Net Principal Balance	945	169
Other Consumer Loans [Member]
Recorded Investment	18	89
Unpaid Principal Balance	18	90
Net Principal Balance	$ 18	$ 89

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Note 2 - Merger with Park Sterling Corporation (Detail) (USD $) In Millions, except Share data, unless otherwise specified	3 Months Ended
	Jun. 30, 2012
Merger, Approximate Total Value (in Dollars)	$ 77.8
Merger, Value Of Preferred Stock Exchanged, Small Business Lending Fund (in Dollars)	$ 20.5
Merger, Shareholder Proceeds, Cash Per Share (in Dollars per share)	$ 7.00
Merger, Shareholder Proceeds, Shares Of Surviving Entity (in Shares)	1.4799
Merger, Consideration Limitation Percentage, Cash	30.00%
Merger, Consideration Limitation Percentage, Shares Of Surviving Entity	70.00%

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Note 13 - Fair Value Measurements (Detail) - The Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Beginning balance, January 1	$ 1,566	$ 3,023
Ending balance, June 30	1,825	2,261
Total gains included in:
Other comprehensive income	47	45
Purchases	212
Sales		(1,065)
Transfers in		$ 258

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Note 6 - Loans (Tables)

6 Months Ended

Jun. 30, 2012

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

	June 30, 2012						December 31, 2011
	Loans Covered by FDIC Loss Share Agreements		Loans Not Covered by FDIC Loss Share Agreements		Total		Loans Covered by FDIC Loss Share Agreements		Loans Not Covered by FDIC Loss Share Agreements		Total
	(Dollars in thousands)
Real estate:
One-to-four family residential	$	29,026	$	114,321	$	143,347	$	34,641	$	116,859	$	151,500
Multifamily residential		2,882		17,074		19,956		2,926		16,759		19,685
Construction		33		27,114		27,147		1,255		19,602		20,857
Commercial land		8,782		22,885		31,667		13,670		28,122		41,792
Residential development		6,026		10,068		16,094		8,095		16,444		24,539
Owner occupied commercial real estate		17,872		116,435		134,307		20,027		95,990		116,017
Non-owner occupied commercial real estate		47,344		131,840		179,184		56,285		129,993		186,278
Consumer real estate		9,457		99,162		108,619		11,148		103,521		114,669
Total real estate		121,422		538,899		660,321		148,047		527,290		675,337
Commercial business		4,795		43,635		48,430		7,866		41,161		49,027
Other consumer		2,657		4,964		7,621		3,775		5,649		9,424
Total loans, net of deferred fees and costs	$	128,874	$	587,498		716,372	$	159,688	$	574,100		733,788
Less: Allowance for loan losses						11,735						11,713
Total loans, net					$	704,637					$	722,075

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Note 8 - Allowance for Loan Losses (Detail) - Activity in the Allowance for Loan Losses (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended			3 Months Ended		6 Months Ended			3 Months Ended	6 Months Ended					3 Months Ended		6 Months Ended			3 Months Ended		6 Months Ended			3 Months Ended		6 Months Ended			3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended			3 Months Ended		6 Months Ended			3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011	Jun. 30, 2012 One-to-Four Family Residential [Member]	Jun. 30, 2011 One-to-Four Family Residential [Member]	Jun. 30, 2012 One-to-Four Family Residential [Member]	Jun. 30, 2011 One-to-Four Family Residential [Member]	Dec. 31, 2011 One-to-Four Family Residential [Member]	Jun. 30, 2012 Multifamily Residential Loans [Member]	Jun. 30, 2012 Multifamily Residential Loans [Member]	Dec. 31, 2011 Multifamily Residential Loans [Member]	Jun. 30, 2011 Multifamily Residential Loans [Member]	Mar. 31, 2011 Multifamily Residential Loans [Member]	Dec. 31, 2010 Multifamily Residential Loans [Member]	Jun. 30, 2012 Construction Loans [Member]	Jun. 30, 2011 Construction Loans [Member]	Jun. 30, 2012 Construction Loans [Member]	Jun. 30, 2011 Construction Loans [Member]	Dec. 31, 2011 Construction Loans [Member]	Jun. 30, 2012 Commercial Land Loans [Member]	Jun. 30, 2011 Commercial Land Loans [Member]	Jun. 30, 2012 Commercial Land Loans [Member]	Jun. 30, 2011 Commercial Land Loans [Member]	Dec. 31, 2011 Commercial Land Loans [Member]	Jun. 30, 2012 Residential Development [Member]	Jun. 30, 2011 Residential Development [Member]	Jun. 30, 2012 Residential Development [Member]	Jun. 30, 2011 Residential Development [Member]	Dec. 31, 2011 Residential Development [Member]	Jun. 30, 2012 Other Commercial Real Estate Loans [Member]	Jun. 30, 2011 Other Commercial Real Estate Loans [Member]	Jun. 30, 2012 Other Commercial Real Estate Loans [Member]	Jun. 30, 2011 Other Commercial Real Estate Loans [Member]	Jun. 30, 2012 Consumer Real Estate Loans [Member]	Jun. 30, 2011 Consumer Real Estate Loans [Member]	Jun. 30, 2012 Consumer Real Estate Loans [Member]	Jun. 30, 2011 Consumer Real Estate Loans [Member]	Dec. 31, 2011 Consumer Real Estate Loans [Member]	Jun. 30, 2012 Commercial Business Loans [Member]	Jun. 30, 2011 Commercial Business Loans [Member]	Jun. 30, 2012 Commercial Business Loans [Member]	Jun. 30, 2011 Commercial Business Loans [Member]	Dec. 31, 2011 Commercial Business Loans [Member]	Jun. 30, 2012 Other Consumer Loans [Member]	Jun. 30, 2011 Other Consumer Loans [Member]	Jun. 30, 2012 Other Consumer Loans [Member]	Jun. 30, 2011 Other Consumer Loans [Member]	Dec. 31, 2011 Other Consumer Loans [Member]
Allowance for loan losses
Balance - Beginning of period	$ 11,583	$ 12,006	$ 11,713	$ 11,924		$ 534	$ 528	$ 500	$ 500		$ 150	$ 150		$ 200	$ 200	$ 200	$ 650	$ 1,014	$ 800	$ 1,000		$ 2,344	$ 2,014	$ 2,334	$ 2,163		$ 2,064	$ 1,996	$ 1,999	$ 2,000		$ 1,927	$ 1,645	$ 1,830	$ 1,561	$ 1,372	$ 1,551	$ 1,600	$ 1,500		$ 2,002	$ 2,500	$ 2,000	$ 2,500		$ 540	$ 558	$ 500	$ 500
Balance - End of period	11,735	12,742	11,735	12,742		544	520	544	520		150	150		200	200	200	652	1,190	652	1,190		2,463	2,223	2,463	2,223		2,014	2,038	2,014	2,038		1,974	1,919	1,974	1,919	1,320	1,568	1,320	1,568		2,036	2,525	2,036	2,525		582	559	582	559
Allowance for loans collectively evaluated for impairment	11,735	12,742	11,735	12,742		544	520	544	520		150	150		200			652	1,190	652	1,190		2,463	2,223	2,463	2,223		2,014	2,038	2,014	2,038		1,974	1,919	1,974	1,919	1,320	1,568	1,320	1,568		2,036	2,525	2,036	2,525		582	559	582	559
Total	11,735	12,742	11,735	12,742		544	520	544	520		150	150		200	200	200	652	1,190	652	1,190		2,463	2,223	2,463	2,223		2,014	2,038	2,014	2,038		1,974	1,919	1,974	1,919	1,320	1,568	1,320	1,568		2,036	2,525	2,036	2,525		582	559	582	559
Charge-offs	(2,893)	(1,325)	(9,496)	(4,361)		(518)	(312)	(1,417)	(1,137)									(5)		(41)		(101)	(291)	(191)	(2,244)		(313)	(386)	(2,805)	(386)		(938)	(256)	(2,319)	(256)	(774)	(35)	(2,504)	(91)		(227)	(35)	(227)	(188)		(22)	(5)	(33)	(18)
Recoveries	490	361	663	479		35	4	68	7		4	4					2	181		231		119	0	119			32	128	89	128		235	30	314	14	59	2	61	9		1	10	3	13		3	6	5	77
Provision	2,555	1,700	8,855	4,700		450	300	1,350	1,150										(150)				500	100	1,250		150	300	2,650	1,350		500	500	1,900	600	650	50	2,150	150		250	50	250	200		50		100
Loans
Loans individually evaluated for impairment	27,565	29,372	27,565	29,372		4,488	2,739	4,488	2,739													3,194	2,826	3,194	2,826		3,472	8,262	3,472	8,262		14,401	12,657	14,401	12,657	1,047	2,630	1,047	2,630		945	169	945	169		18	89	18	89
Loans collectively evaluated for impairment	559,933	544,728	559,933	544,728		109,833	114,120	109,833	114,120		17,074	17,074		16,759			27,114	19,602	27,114	19,602		19,691	25,296	19,691	25,296		6,596	8,182	6,596	8,182		233,874	213,326	233,874	213,326	98,115	100,891	98,115	100,891		42,690	40,992	42,690	40,992		4,946	5,560	4,946	5,560
Total non-covered loans	$ 587,498	$ 574,100	$ 587,498	$ 574,100	$ 574,100	$ 114,321	$ 116,859	$ 114,321	$ 116,859	$ 116,859	$ 17,074	$ 17,074	$ 16,759	$ 16,759			$ 27,114	$ 19,602	$ 27,114	$ 19,602	$ 19,602	$ 22,885	$ 28,122	$ 22,885	$ 28,122	$ 28,122	$ 10,068	$ 16,444	$ 10,068	$ 16,444	$ 16,444	$ 248,275	$ 225,983	$ 248,275	$ 225,983	$ 99,162	$ 103,521	$ 99,162	$ 103,521	$ 103,521	$ 43,635	$ 41,161	$ 43,635	$ 41,161	$ 41,161	$ 4,964	$ 5,649	$ 4,964	$ 5,649	$ 5,649

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Note 7 - Credit Quality of Loans (Detail) (USD $)	3 Months Ended	6 Months Ended
	Sep. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Mar. 31, 2012	Dec. 31, 2011	Mar. 31, 2011	Dec. 31, 2010
Loans and Leases Receivable, Allowance		$ 11,735,000	$ 12,742,000	$ 11,583,000	$ 11,713,000	$ 12,006,000	$ 11,924,000
Financing Receivable, Modifications, Subsequent Default, Recorded Investment					1,100,000
Gains (Losses) on Sales of Other Real Estate	(335,000)	(53,000)	(326,000)
Percentage of Loan Losses Covered by FDIC		80.00%
Troubled Debt Restructurings [Member]
Loans and Leases Receivable, Allowance		$ 1,300,000

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Note 5 - Investment Securities (Detail) - Investment Securities Portfolio (USD $) In Thousands, unless otherwise specified	6 Months Ended	12 Months Ended
	Jun. 30, 2012	Dec. 31, 2011
Available for Sale:
Available for sale securities - amortized cost	$ 18,370	$ 51,659
Available for sale securities - gross unrealized gains	121	651
Available for sale securities - gross unrealized losses	133	174
Available for sale securities - estimated fair value	18,358	52,136
Held to Maturity:
Held to maturity securities - amortized cost	82,276	95,763
Held to maturity securities - gross unrealized gains	2,757	2,511
Held to maturity securities - gross unrealized losses	186	159
Held to maturity securities - estimated fair value	84,847	98,115
Amortized cost	100,646	147,422
Gross unrealized gains	2,878	3,162
Gross unrealized losses	319	333
Estimated fair value	103,205	150,251
US States and Political Subdivisions Debt Securities [Member]
Available for Sale:
Available for sale securities - amortized cost	1,675	6,578
Available for sale securities - gross unrealized gains	3	133
Available for sale securities - gross unrealized losses	0	0
Available for sale securities - estimated fair value	1,678	6,711
Held to Maturity:
Held to maturity securities - amortized cost	3,272	3,300
Held to maturity securities - gross unrealized gains	91	99
Held to maturity securities - gross unrealized losses	0	0
Held to maturity securities - estimated fair value	3,363	3,399
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
Available for Sale:
Available for sale securities - amortized cost	14,994	35,170
Available for sale securities - gross unrealized gains	74	330
Available for sale securities - gross unrealized losses	13	8
Available for sale securities - estimated fair value	15,055	35,492
Held to Maturity:
Held to maturity securities - amortized cost	45,992	52,502
Held to maturity securities - gross unrealized gains	2,499	2,277
Held to maturity securities - gross unrealized losses	0	0
Held to maturity securities - estimated fair value	48,491	54,779
Other Securities [Member]
Available for Sale:
Available for sale securities - amortized cost	1,701	1,488
Available for sale securities - gross unrealized gains	44	44
Available for sale securities - gross unrealized losses	120	166
Available for sale securities - estimated fair value	1,625	1,366
Held to Maturity:
Held to maturity securities - amortized cost	4,000	4,000
Held to maturity securities - gross unrealized gains	0	0
Held to maturity securities - gross unrealized losses	186	155
Held to maturity securities - estimated fair value	3,814	3,845
US Treasury Securities [Member]
Held to Maturity:
Held to maturity securities - amortized cost	9,981	9,972
Held to maturity securities - gross unrealized gains	38	61
Held to maturity securities - gross unrealized losses	0	0
Held to maturity securities - estimated fair value	10,019	10,033
US Government Agencies Debt Securities [Member]
Available for Sale:
Available for sale securities - amortized cost		7,168
Available for sale securities - gross unrealized gains		73
Available for sale securities - gross unrealized losses		0
Available for sale securities - estimated fair value		7,241
Held to Maturity:
Held to maturity securities - amortized cost	13,996	25,989
Held to maturity securities - gross unrealized gains	59	74
Held to maturity securities - gross unrealized losses		4
Held to maturity securities - estimated fair value	14,055	26,059
SBA Securities [Member]
Available for Sale:
Available for sale securities - amortized cost		1,255
Available for sale securities - gross unrealized gains		71
Available for sale securities - gross unrealized losses		0
Available for sale securities - estimated fair value		1,326
Held to Maturity:
Held to maturity securities - amortized cost	5,035
Held to maturity securities - gross unrealized gains	70
Held to maturity securities - estimated fair value	$ 5,105

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Note 10 - Deposits (Detail) - Deposit Balances and Average Rates (USD $) In Thousands, unless otherwise specified	6 Months Ended	12 Months Ended
	Jun. 30, 2012	Dec. 31, 2011
Noninterest-bearing demand (in Dollars)	$ 95,512	$ 88,077
Noninterest-bearing demand	0.00%	0.00%
Interest-bearing demand (in Dollars)	199,867	199,390
Interest-bearing demand	0.20%	0.41%
Money market deposit (in Dollars)	153,775	155,228
Money market deposit	0.29%	0.52%
Savings accounts (in Dollars)	23,945	20,542
Savings accounts	0.16%	0.17%
Time deposits (in Dollars)	379,665	412,819
Time deposits	0.97%	1.26%
Total deposits (in Dollars)	$ 852,764	$ 876,056
Total deposits	0.55%	0.81%

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Note 7 - Credit Quality of Loans (Detail) - Risk Category of Loans (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Real estate:
Total loans	$ 716,372	$ 733,788
Pass [Member] | One-to-Four Family Residential [Member]
Real estate:
Total loans	138,184	149,013
Pass [Member] | Multifamily Residential Loans [Member]
Real estate:
Total loans	18,901	19,685
Pass [Member] | Construction Loans [Member]
Real estate:
Total loans	27,147	20,857
Pass [Member] | Commercial Land Loans [Member]
Real estate:
Total loans	25,296	30,202
Pass [Member] | Residential Development [Member]
Real estate:
Total loans	11,904	15,806
Pass [Member] | Owner Occupied Commercial Real Estate [Member]
Real estate:
Total loans	126,414
Pass [Member] | Other Commercial Real Estate, Excluding Owner Occupied [Member]
Real estate:
Total loans	153,500
Pass [Member] | Consumer Land Loans [Member]
Real estate:
Total loans	15,479	17,356
Pass [Member] | Home Equity Lines of Credit [Member]
Real estate:
Total loans	89,853	92,752
Pass [Member] | Total Real Estate Loans [Member]
Real estate:
Total loans	606,678	615,641
Pass [Member] | Commercial Business Loans [Member]
Real estate:
Total loans	47,138	48,477
Pass [Member] | Other Consumer Loans [Member]
Real estate:
Total loans	7,416	9,147
Pass [Member] | Other Commercial Real Estate Loans [Member]
Real estate:
Total loans		269,970
Pass [Member]
Real estate:
Total loans	661,232	673,265
Special Mention [Member] | One-to-Four Family Residential [Member]
Real estate:
Total loans	483	562
Special Mention [Member] | Multifamily Residential Loans [Member]
Real estate:
Total loans	1,055
Special Mention [Member] | Commercial Land Loans [Member]
Real estate:
Total loans	720	8,600
Special Mention [Member] | Residential Development [Member]
Real estate:
Total loans		1,037
Special Mention [Member] | Owner Occupied Commercial Real Estate [Member]
Real estate:
Total loans	4,988
Special Mention [Member] | Other Commercial Real Estate, Excluding Owner Occupied [Member]
Real estate:
Total loans	15,846
Special Mention [Member] | Consumer Land Loans [Member]
Real estate:
Total loans	200	458
Special Mention [Member] | Home Equity Lines of Credit [Member]
Real estate:
Total loans	1,294	790
Special Mention [Member] | Total Real Estate Loans [Member]
Real estate:
Total loans	24,586	31,372
Special Mention [Member] | Commercial Business Loans [Member]
Real estate:
Total loans	244	254
Special Mention [Member] | Other Consumer Loans [Member]
Real estate:
Total loans	168	170
Special Mention [Member] | Other Commercial Real Estate Loans [Member]
Real estate:
Total loans		19,925
Special Mention [Member]
Real estate:
Total loans	24,998	31,796
Substandard [Member] | One-to-Four Family Residential [Member]
Real estate:
Total loans	4,680	1,925
Substandard [Member] | Commercial Land Loans [Member]
Real estate:
Total loans	5,651	2,990
Substandard [Member] | Residential Development [Member]
Real estate:
Total loans	4,190	7,696
Substandard [Member] | Owner Occupied Commercial Real Estate [Member]
Real estate:
Total loans	2,905
Substandard [Member] | Other Commercial Real Estate, Excluding Owner Occupied [Member]
Real estate:
Total loans	9,838
Substandard [Member] | Consumer Land Loans [Member]
Real estate:
Total loans	516	1,560
Substandard [Member] | Home Equity Lines of Credit [Member]
Real estate:
Total loans	1,277	1,753
Substandard [Member] | Total Real Estate Loans [Member]
Real estate:
Total loans	29,057	28,324
Substandard [Member] | Commercial Business Loans [Member]
Real estate:
Total loans	1,048	296
Substandard [Member] | Other Consumer Loans [Member]
Real estate:
Total loans	37	107
Substandard [Member] | Other Commercial Real Estate Loans [Member]
Real estate:
Total loans		12,400
Substandard [Member]
Real estate:
Total loans	30,142	28,727
One-to-Four Family Residential [Member]
Real estate:
Total loans	143,347	151,500
Multifamily Residential Loans [Member]
Real estate:
Total loans	19,956	19,685
Construction Loans [Member]
Real estate:
Total loans	27,147	20,857
Commercial Land Loans [Member]
Real estate:
Total loans	31,667	41,792
Residential Development [Member]
Real estate:
Total loans	16,094	24,539
Owner Occupied Commercial Real Estate [Member]
Real estate:
Total loans	134,307	116,017
Other Commercial Real Estate, Excluding Owner Occupied [Member]
Real estate:
Total loans	179,184
Consumer Land Loans [Member]
Real estate:
Total loans	16,195	19,374
Home Equity Lines of Credit [Member]
Real estate:
Total loans	92,424	95,295
Total Real Estate Loans [Member]
Real estate:
Total loans	660,321	675,337
Commercial Business Loans [Member]
Real estate:
Total loans	48,430	49,027
Other Consumer Loans [Member]
Real estate:
Total loans	7,621	9,424
Other Commercial Real Estate Loans [Member]
Real estate:
Total loans	$ 313,491	$ 302,295

XML

Note 2 - Merger with Park Sterling Corporation

6 Months Ended

Jun. 30, 2012

Mergers, Acquisitions and Dispositions Disclosures [Text Block]

Note 2 – Merger with Park Sterling Corporation

On May 14, 2012, the Company announced the signing of a definitive merger agreement with Park Sterling Corporation (“Park Sterling”) under which Park Sterling will acquire Citizens South for a total value of approximately $77.8 million, excluding the exchange of $20.5 million in preferred stock issued to the United States Department of the Treasury in connection with Citizen South’s participation in the Small Business Lending Fund.The merger agreement has been unanimously approved by the board of directors of each company. Closing of the transaction, which is expected to occur in the fourth quarter of 2012, is subject to customary conditions, including approval by Citizens South’s shareholders, approval by Park Sterling’s shareholders and receipt of regulatory approval. Under the terms of the merger agreement, Citizens South shareholders will have the right to receive either $7.00 in cash or 1.4799 Park Sterling shares for each Citizens South share they hold, subject to the limitation that the total consideration will consist of 30.0% in cash and 70.0% in Park Sterling shares. Those Citizens South shares exchanged for stock will convert to Park Sterling shares in what is intended to be a tax-free exchange. Cash will also be paid in lieu of fractional shares. The transaction value at the time of the proposed merger may change due to potential fluctuations in the price of Park Sterling stock.

XML

Note 7 - Credit Quality of Loans (Detail) - Aging Analysis of the Company’s Past Due Loans (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Real estate:
30 - 59 Days Past Due	$ 2,083	$ 3,430
60 - 89 Days Past Due	1,224	6,875
90 Days or More Past Due and Accruing	375	1,135
Nonaccrual	56,894	61,732
Total Past Due	60,576	73,172
Current	655,796	660,616
Total Loans	716,372	733,788
Recorded Investment 90 Days or More and Accruing	386	1,161
Not Covered By FDIC Loss-Share Agreements [Member] | One-to-Four Family Residential [Member]
Real estate:
30 - 59 Days Past Due	489	80
60 - 89 Days Past Due	88	1,634
Nonaccrual	4,230	2,407
Total Past Due	4,807	4,121
Current	109,514	112,738
Total Loans	114,321	116,859
Not Covered By FDIC Loss-Share Agreements [Member] | Multifamily Residential Loans [Member]
Real estate:
Current	17,074	16,759
Total Loans	17,074	16,759
Not Covered By FDIC Loss-Share Agreements [Member] | Construction Loans [Member]
Real estate:
60 - 89 Days Past Due		93
Total Past Due		93
Current	27,114	19,509
Total Loans	27,114	19,602
Not Covered By FDIC Loss-Share Agreements [Member] | Commercial Land Loans [Member]
Real estate:
90 Days or More Past Due and Accruing	151
Nonaccrual	3,018	2,631
Total Past Due	3,169	2,631
Current	19,716	25,491
Total Loans	22,885	28,122
Recorded Investment 90 Days or More and Accruing	154
Not Covered By FDIC Loss-Share Agreements [Member] | Residential Development [Member]
Real estate:
Nonaccrual	3,000	6,474
Total Past Due	3,000	6,474
Current	7,068	9,970
Total Loans	10,068	16,444
Not Covered By FDIC Loss-Share Agreements [Member] | Other Commercial Real Estate Loans [Member]
Real estate:
30 - 59 Days Past Due	235	81
60 - 89 Days Past Due	682	1,873
Nonaccrual	8,489	4,173
Total Past Due	9,406	6,127
Current	238,869	219,856
Total Loans	248,275	225,983
Not Covered By FDIC Loss-Share Agreements [Member] | Consumer Real Estate Loans [Member]
Real estate:
30 - 59 Days Past Due	255	761
60 - 89 Days Past Due		388
90 Days or More Past Due and Accruing		335
Nonaccrual	961	2,543
Total Past Due	1,216	4,027
Current	97,946	99,494
Total Loans	99,162	103,521
Recorded Investment 90 Days or More and Accruing		338
Not Covered By FDIC Loss-Share Agreements [Member] | Total Real Estate Loans [Member]
Real estate:
30 - 59 Days Past Due	979	922
60 - 89 Days Past Due	770	3,988
90 Days or More Past Due and Accruing	151	335
Nonaccrual	19,698	18,228
Total Past Due	21,598	23,473
Current	517,301	503,817
Total Loans	538,899	527,290
Recorded Investment 90 Days or More and Accruing	154	338
Not Covered By FDIC Loss-Share Agreements [Member] | Commercial Business Loans [Member]
Real estate:
30 - 59 Days Past Due	24	7
Nonaccrual	945	168
Total Past Due	969	175
Current	42,666	40,986
Total Loans	43,635	41,161
Not Covered By FDIC Loss-Share Agreements [Member] | Other Consumer Loans [Member]
Real estate:
30 - 59 Days Past Due	32	13
60 - 89 Days Past Due	7	3
Nonaccrual	15	80
Total Past Due	54	96
Current	4,910	5,553
Total Loans	4,964	5,649
Not Covered By FDIC Loss-Share Agreements [Member]
Real estate:
30 - 59 Days Past Due	1,035	942
60 - 89 Days Past Due	777	3,991
90 Days or More Past Due and Accruing	151	335
Nonaccrual	20,658	18,476
Total Past Due	22,621	23,744
Current	564,877	550,356
Total Loans	587,498	574,100
Recorded Investment 90 Days or More and Accruing	154	338
Covered By FDIC Loss-Share Agreements [Member] | One-to-Four Family Residential [Member]
Real estate:
30 - 59 Days Past Due	759	1,530
60 - 89 Days Past Due	135	2,220
90 Days or More Past Due and Accruing	61	215
Nonaccrual	7,566	8,441
Total Past Due	8,521	12,406
Current	20,505	22,235
Total Loans	29,026	34,641
Recorded Investment 90 Days or More and Accruing	63	219
Covered By FDIC Loss-Share Agreements [Member] | Multifamily Residential Loans [Member]
Real estate:
Nonaccrual	380	216
Total Past Due	380	216
Current	2,502	2,710
Total Loans	2,882	2,926
Covered By FDIC Loss-Share Agreements [Member] | Construction Loans [Member]
Real estate:
Nonaccrual		1,191
Total Past Due		1,191
Current	33	64
Total Loans	33	1,255
Covered By FDIC Loss-Share Agreements [Member] | Commercial Land Loans [Member]
Real estate:
30 - 59 Days Past Due		140
60 - 89 Days Past Due	106	11
90 Days or More Past Due and Accruing		10
Nonaccrual	3,944	6,704
Total Past Due	4,050	6,865
Current	4,732	6,805
Total Loans	8,782	13,670
Recorded Investment 90 Days or More and Accruing		11
Covered By FDIC Loss-Share Agreements [Member] | Residential Development [Member]
Real estate:
Nonaccrual	3,759	4,578
Total Past Due	3,759	4,578
Current	2,267	3,517
Total Loans	6,026	8,095
Covered By FDIC Loss-Share Agreements [Member] | Other Commercial Real Estate Loans [Member]
Real estate:
30 - 59 Days Past Due	29	351
60 - 89 Days Past Due	206	466
90 Days or More Past Due and Accruing		495
Nonaccrual	17,785	17,454
Total Past Due	18,020	18,766
Current	47,196	57,546
Total Loans	65,216	76,312
Recorded Investment 90 Days or More and Accruing		511
Covered By FDIC Loss-Share Agreements [Member] | Consumer Real Estate Loans [Member]
Real estate:
30 - 59 Days Past Due	229	236
60 - 89 Days Past Due		15
Nonaccrual	967	634
Total Past Due	1,196	885
Current	8,261	10,263
Total Loans	9,457	11,148
Covered By FDIC Loss-Share Agreements [Member] | Total Real Estate Loans [Member]
Real estate:
30 - 59 Days Past Due	1,017	2,257
60 - 89 Days Past Due	447	2,712
90 Days or More Past Due and Accruing	61	720
Nonaccrual	34,401	39,218
Total Past Due	35,926	44,907
Current	85,496	103,140
Total Loans	121,422	148,047
Recorded Investment 90 Days or More and Accruing	63	741
Covered By FDIC Loss-Share Agreements [Member] | Commercial Business Loans [Member]
Real estate:
30 - 59 Days Past Due	8	90
60 - 89 Days Past Due		39
90 Days or More Past Due and Accruing	163	23
Nonaccrual	1,422	3,484
Total Past Due	1,593	3,636
Current	3,202	4,230
Total Loans	4,795	7,866
Recorded Investment 90 Days or More and Accruing	169	24
Covered By FDIC Loss-Share Agreements [Member] | Other Consumer Loans [Member]
Real estate:
30 - 59 Days Past Due	23	141
60 - 89 Days Past Due		133
90 Days or More Past Due and Accruing		57
Nonaccrual	413	554
Total Past Due	436	885
Current	2,221	2,890
Total Loans	2,657	3,775
Recorded Investment 90 Days or More and Accruing		58
Covered By FDIC Loss-Share Agreements [Member]
Real estate:
30 - 59 Days Past Due	1,048	2,488
60 - 89 Days Past Due	447	2,884
90 Days or More Past Due and Accruing	224	800
Nonaccrual	36,236	43,256
Total Past Due	37,955	49,428
Current	90,919	110,260
Total Loans	128,874	159,688
Recorded Investment 90 Days or More and Accruing	232	823
One-to-Four Family Residential [Member]
Real estate:
30 - 59 Days Past Due	1,248	1,610
60 - 89 Days Past Due	223	3,854
90 Days or More Past Due and Accruing	61	215
Nonaccrual	11,796	10,848
Total Past Due	13,328	16,527
Current	130,019	134,973
Total Loans	143,347	151,500
Recorded Investment 90 Days or More and Accruing	63	219
Multifamily Residential Loans [Member]
Real estate:
Nonaccrual	380	216
Total Past Due	380	216
Current	19,576	19,469
Total Loans	19,956	19,685
Construction Loans [Member]
Real estate:
60 - 89 Days Past Due		93
Nonaccrual		1,191
Total Past Due		1,284
Current	27,147	19,573
Total Loans	27,147	20,857
Commercial Land Loans [Member]
Real estate:
30 - 59 Days Past Due		140
60 - 89 Days Past Due	106	11
90 Days or More Past Due and Accruing	151	10
Nonaccrual	6,962	9,335
Total Past Due	7,219	9,496
Current	24,448	32,296
Total Loans	31,667	41,792
Recorded Investment 90 Days or More and Accruing	154	11
Residential Development [Member]
Real estate:
Nonaccrual	6,759	11,052
Total Past Due	6,759	11,052
Current	9,335	13,487
Total Loans	16,094	24,539
Other Commercial Real Estate Loans [Member]
Real estate:
30 - 59 Days Past Due	264	432
60 - 89 Days Past Due	888	2,339
90 Days or More Past Due and Accruing		495
Nonaccrual	26,274	21,627
Total Past Due	27,426	24,893
Current	286,065	277,402
Total Loans	313,491	302,295
Recorded Investment 90 Days or More and Accruing		511
Consumer Real Estate Loans [Member]
Real estate:
30 - 59 Days Past Due	484	997
60 - 89 Days Past Due		403
90 Days or More Past Due and Accruing		335
Nonaccrual	1,928	3,177
Total Past Due	2,412	4,912
Current	106,207	109,757
Total Loans	108,619	114,669
Recorded Investment 90 Days or More and Accruing		338
Total Real Estate Loans [Member]
Real estate:
30 - 59 Days Past Due	1,996	3,179
60 - 89 Days Past Due	1,217	6,700
90 Days or More Past Due and Accruing	212	1,055
Nonaccrual	54,099	57,446
Total Past Due	57,524	68,380
Current	602,797	606,957
Total Loans	660,321	675,337
Recorded Investment 90 Days or More and Accruing	217	1,079
Commercial Business Loans [Member]
Real estate:
30 - 59 Days Past Due	32	97
60 - 89 Days Past Due		39
90 Days or More Past Due and Accruing	163	23
Nonaccrual	2,367	3,652
Total Past Due	2,562	3,811
Current	45,868	45,216
Total Loans	48,430	49,027
Recorded Investment 90 Days or More and Accruing	169	24
Other Consumer Loans [Member]
Real estate:
30 - 59 Days Past Due	55	154
60 - 89 Days Past Due	7	136
90 Days or More Past Due and Accruing		57
Nonaccrual	428	634
Total Past Due	490	981
Current	7,131	8,443
Total Loans	7,621	9,424
Recorded Investment 90 Days or More and Accruing		$ 58

XML

Note 10 - Deposits (Tables)

6 Months Ended

Jun. 30, 2012

Schedule of Deposits [Table Text Block]

	June 30, 2012					December 31, 2011
	Amount		Average Rate			Amount		Average Rate
	(Dollars in thousands)
Noninterest-bearing demand	$	95,512		0.00	%	$	88,077		0.00	%
Interest-bearing demand		199,867		0.20	%		199,390		0.41	%
Money market deposit		153,775		0.29	%		155,228		0.52	%
Savings accounts		23,945		0.16	%		20,542		0.17	%
Time deposits		379,665		0.97	%		412,819		1.26	%
Total deposits	$	852,764		0.55	%	$	876,056		0.81	%

XML

Note 9 - FDIC Loss Share Receivable (Tables)

6 Months Ended

Jun. 30, 2012

Changes in the Loss Share Receivable From the FDIC [Table Text Block]

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
	(Dollars in thousands)
Balance at beginning of period	$	30,448		$	25,611		$	38,931		$	24,848
Additional FDIC loss share receivable from acquisitions		-			19,922			-			19,922
Increase in expected losses on indemnified assets and other changes		5,959			435			6,925			1,749
Claimable net losses on OREO covered under loss share agreements		774			476			1,563			660
Reimbursable expenses claimed		483			242			1,020			367
Accretion of discounts and premiums, net		31			(287	)		(886	)		(1,004	)
Receipt of payments from FDIC		(8,832	)		(2,975	)		(18,690	)		(3,118	)
Balance at end of period	$	28,863		$	43,424		$	28,863		$	43,424

XML

Note 13 - Fair Value Measurements (Detail) - Balance of Assets Measured at Fair Value on a Recurring Basis (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Investment Securities Available for Sale
Available for sale securities	$ 18,358	$ 52,136
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Investment Securities Available for Sale
Available for sale securities	1,478	6,511
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Investment Securities Available for Sale
Available for sale securities	200	200
US States and Political Subdivisions Debt Securities [Member]
Investment Securities Available for Sale
Available for sale securities	1,678	6,711
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 2 [Member]
Investment Securities Available for Sale
Available for sale securities	15,055	35,492
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
Investment Securities Available for Sale
Available for sale securities	15,055	35,492
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Investment Securities Available for Sale
Available for sale securities	1,625	1,366
Equity Securities [Member]
Investment Securities Available for Sale
Available for sale securities	1,625	1,366
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Investment Securities Available for Sale
Available for sale securities		7,241
US Government Agencies Debt Securities [Member]
Investment Securities Available for Sale
Available for sale securities		7,241
SBA Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Investment Securities Available for Sale
Available for sale securities		1,326
SBA Securities [Member]
Investment Securities Available for Sale
Available for sale securities		1,326
Fair Value, Inputs, Level 2 [Member]
Investment Securities Available for Sale
Available for sale securities	16,533	50,570
Fair Value, Inputs, Level 3 [Member]
Investment Securities Available for Sale
Available for sale securities	$ 1,825	$ 1,566

XML

Note 7 - Credit Quality of Loans (Detail) - Troubed Debt Restructurings (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Troubled Debt Restructurings	$ 12,185	$ 9,043
Number of contracts	30	29
Accrual Status [Member] | One-to-Four Family Residential [Member]
Troubled Debt Restructurings	220	12
Accrual Status [Member] | Commercial Land Loans [Member]
Troubled Debt Restructurings	875	195
Accrual Status [Member] | Residential Development [Member]
Troubled Debt Restructurings		633
Accrual Status [Member] | Other Commercial Real Estate Loans [Member]
Troubled Debt Restructurings	4,450	6,955
Accrual Status [Member]
Troubled Debt Restructurings	5,545	7,795
Non-Accrual Status [Member] | Commercial Land Loans [Member]
Troubled Debt Restructurings	678	89
Non-Accrual Status [Member] | Residential Development [Member]
Troubled Debt Restructurings	141
Non-Accrual Status [Member] | Other Commercial Real Estate Loans [Member]
Troubled Debt Restructurings	4,936	1,159
Non-Accrual Status [Member] | Commercial Business Loans [Member]
Troubled Debt Restructurings	885
Non-Accrual Status [Member]
Troubled Debt Restructurings	6,640	1,248
One-to-Four Family Residential [Member]
Troubled Debt Restructurings	220	12
Number of contracts	2	1
Commercial Land Loans [Member]
Troubled Debt Restructurings	1,553	284
Number of contracts	3	2
Residential Development [Member]
Troubled Debt Restructurings	141	633
Number of contracts	1	2
Other Commercial Real Estate Loans [Member]
Troubled Debt Restructurings	9,386	8,114
Number of contracts	23	24
Commercial Business Loans [Member]
Troubled Debt Restructurings	$ 885
Number of contracts	1

XML

Note 12 - Commitments (Tables)

6 Months Ended

Jun. 30, 2012

Commitments to Extend Credit [Table Text Block]

	June 30, 2012		December 31, 2011
	(Dollars in thousands)
Loan commitments
Residential mortgage loans	$	10,218	$	24,484
Total loan commitments	$	10,218	$	24,484
Unused lines of credit
Residential construction	$	8,260	$	7,390
Commercial real estate		15,738		18,593
Commercial business		10,962		9,558
Consumer		74,525		74,930
Total unused lines of credit	$	109,485	$	110,471
Undisbursed Construction Loan Proceeds	$	795	$	1,200

XML

Note 13 - Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

	Fair Value Measurement Classification
	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
June 30, 2012
Investment Securities Available for Sale
Municipal bonds	$	-	$	1,478	$	200	$	1,678
Mortgage-backed bonds		-		15,055		-		15,055
Equity securities		-		-		1,625		1,625
Total	$	-	$	16,533	$	1,825	$	18,358
December 31, 2011
Investment Securities Available for Sale
U.S. Government Agency obligations	$	-	$	7,241	$	-	$	7,241
Municipal bonds		-		6,511		200		6,711
Mortgage-backed bonds		-		35,492		-		35,492
SBA securities		-		1,326		-		1,326
Equity securities		-		-		1,366		1,366
Total	$	-	$	50,570	$	1,566	$	52,136

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

	Six Months Ended June 30,
	2012		2011
	(Dollars in thousands)
Beginning balance, January 1	$	1,566	$	3,023
Total gains included in:
Other comprehensive income		47		45
Purchases		212		-
Sales		-		(1,065	)
Transfers in		-		258
Ending balance, June 30	$	1,825	$	2,261

Fair Value Measurements, Nonrecurring [Table Text Block]

	Fair Value Measurement Classification
	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
June 30, 2012
Investment Securities Held to Maturity:
U.S. Treasury obligations	$	10,019	$	-	$	-	$	10,019
U.S. Government Agency obligations		-		14,055		-		14,055
Municipal bonds		-		3,363		-		3,363
Mortgage-backed bonds		-		48,491		-		48,491
SBA securities		-		5,105		-		5,105
Corporate bonds		-		3,814		-		3,814
Presold loans in process of settlement		-		2,146		-		2,146
Impaired loans		-		-		27,565		27,565
Other real estate owned		-		-		21,405		21,405
Total	$	10,019	$	76,974	$	48,970	$	135,963
December 31, 2011
Investment Securities Held to Maturity:
U.S. Treasury obligations	$	10,033	$	-	$	-	$	10,033
U.S. Government Agency obligations		-		26,059		-		26,059
Municipal bonds		-		3,399		-		3,399
Mortgage-backed bonds		-		54,779		-		54,779
Corporate bonds		-		3,845		-		3,845
Presold loans in process of settlement		-		2,146		-		2,146
Impaired loans		-		-		29,372		29,372
Other real estate owned		-		-		17,571		17,571
Total	$	10,033	$	90,228	$	46,943	$	147,204

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Note 1 - Basis of Presentation

6 Months Ended

Jun. 30, 2012

Basis of Accounting [Text Block]

Note 1 – Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”).  In management’s opinion, the accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting solely of normal recurring adjustments) necessary for a fair presentation of the interim financial statements as of and for the three- and six-month periods ended June 30, 2012 and 2011, and have been included as required by Regulation S-X Rule 10-01. They do not include all of the information and footnotes required by such accounting principles for complete financial statements, and therefore should be read in conjunction with the audited consolidated financial statements and accompanying footnotes in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011. The accompanying unaudited condensed consolidated financial statements include management estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes.  The more significant estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, other-than-temporary impairments on securities, and the fair value of acquired loans.  Actual results could differ from those estimates.

The accompanying unaudited condensed consolidated financial statements include the accounts of Citizens South Banking Corporation, its wholly-owned subsidiary, Citizens South Bank, and the Bank’s wholly-owned subsidiaries, Citizens South Financial Services, Inc. and Citizens Properties, LLC.  All significant intercompany accounts and transactions have been eliminated in consolidation.Certain of the prior year amounts have been reclassified to conform to current year presentation.  Such reclassifications were immaterial to the financial statements. Results for the three- and six-month periods ended June 30, 2012, are not necessarily indicative of the results that may be expected for future periods, including the year ending December 31, 2012.

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Note 14 - Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value, by Balance Sheet Grouping [Table Text Block]

	June 30, 2012				December 31, 2011
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
	(Dollars in thousands)
Financial assets
Cash and due from banks	$	11,839	$	11,839	$	13,296	$	13,296
Interest bearing deposits		116,985		116,985		75,048		75,048
Investment securities		100,634		103,205		147,899		150,251
Federal Home Loan Bank stock		4,443		4,443		5,067		5,067
Presold loans in process of settlement		2,146		2,146		2,146		2,146
Loans, net		704,637		714,077		722,075		735,685
FDIC loss share receivable		28,863		28,863		38,931		38,931
Accrued interest receivable		1,840		1,840		2,773		2,773
Bank-owned life insurance		18,723		18,723		18,978		18,978
Financial liabilities
Demand deposits	$	295,379	$	295,379	$	287,466	$	287,466
Money market accounts		153,775		153,775		155,229		155,229
Savings accounts		23,945		23,945		20,542		20,542
Time deposits		379,665		381,475		412,819		415,145
Securities sold under repurchase agreements		7,554		7,554		9,787		9,787
Borrowed money		76,706		85,089		78,688		87,697
Subordinated debt		15,464		7,732		15,464		7,732
Accrued interest payable		695		695		981		981

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Note 6 - Loans (Detail) (USD $)	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2012 Loss-Share Agreements [Member] Residential Real Estate Loans [Member] New Horizons Bank [Member]	Jun. 30, 2012 Loss-Share Agreements [Member] Residential Real Estate Loans [Member]	Jun. 30, 2012 Loss-Share Agreements [Member] Nonresidential Loans [Member] Minimum [Member] New Horizons Bank [Member]	Jun. 30, 2012 Loss-Share Agreements [Member] Nonresidential Loans [Member] Minimum [Member]	Jun. 30, 2012 Loss-Share Agreements [Member] Nonresidential Loans [Member] Maximum [Member] New Horizons Bank [Member]	Jun. 30, 2012 Loss-Share Agreements [Member] Nonresidential Loans [Member] Maximum [Member]	Apr. 30, 2011 Not Covered By FDIC Loss-Share Agreements [Member] New Horizons Bank [Member]	Jun. 30, 2012 One-to-Four Family Residential [Member] Minimum [Member]	Jun. 30, 2012 One-to-Four Family Residential [Member] Maximum [Member]	Jun. 30, 2012 One-to-Four Family Residential [Member]	Jun. 30, 2012 Multifamily Residential Loans [Member]	Jun. 30, 2012 Construction Loans [Member]	Jun. 30, 2012 Residential Construction Loans [Member]	Jun. 30, 2012 Commercial Construction Loans [Member]	Jun. 30, 2012 Raw Land Loans [Member]	Jun. 30, 2012 Loans on Developed Lots [Member]	Jun. 30, 2012 Other Commercial Real Estate Loans [Member]	Jun. 30, 2012 Owner-Occupied Nonresidential Properties [Member]	Jun. 30, 2012 Home Equity Lines of Credit [Member]	Jun. 30, 2012 Residential Lot Loans [Member]	Jun. 30, 2012 Loans Acquired in Bank of Hiawassee up to $102 Million [Member]	Jun. 30, 2012 Loans Acquired in the Bank of Hiawassee in Excess of $102 Million [Member]	Jun. 30, 2012 Loans Acquired in the Bank of Hiawassee [Member]	Jun. 30, 2012 New Horizons Bank [Member]	Apr. 30, 2011 New Horizons Bank [Member]
Loan Receivable Terms			10 years	10 years	5 years	5 years	8 years	8 years		10 years	30 years										15 years	5 years
Loan to Value Ratio												80.00%	75.00%	80.00%			65.00%	90.00%	75.00%		85.00%	90.00%
Debt Service Coverage Ratio													1.2x to 1.0x						1.2x to 1.0x
Percentage of Loan Portfolio															57.00%	43.00%				43.00%	85.00%	15.00%
Loans Receivable Held-for-sale, Amount (in Dollars)	$ 2,146,000	$ 2,146,000
Loans and Leases Receivable, Net Reported Amount, Covered (in Dollars)	128,900,000																								93,700,000	35,200,000	47,400,000
Percentage of Loan Losses Covered by FDIC	80.00%																						80.00%	95.00%		80.00%
FDIC Indemnification Asset (in Dollars)																									36,300,000		19,900,000
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net (in Dollars)																											49,300,000
Loans Receivable, Net (in Dollars)									$ 1,900,000

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Note 11 - Preferred Stock (Detail) (USD $)			1 Months Ended				6 Months Ended	1 Months Ended	0 Months Ended	6 Months Ended
	Jun. 30, 2012	Dec. 31, 2011	Sep. 22, 2011 Senior Non-Cumulative Perpetual Preferred Stock, Series C [Member] Minimum [Member] Second Through Tenth Dividend Period [Member]	Sep. 22, 2011 Senior Non-Cumulative Perpetual Preferred Stock, Series C [Member] Minimum [Member] Eleventh Through First Half of Nineteenth Dividend Period [Member]	Sep. 22, 2011 Senior Non-Cumulative Perpetual Preferred Stock, Series C [Member] Maximum [Member] Second Through Tenth Dividend Period [Member]	Sep. 22, 2011 Senior Non-Cumulative Perpetual Preferred Stock, Series C [Member] Maximum [Member] Eleventh Through First Half of Nineteenth Dividend Period [Member]	Jun. 30, 2012 Senior Non-Cumulative Perpetual Preferred Stock, Series C [Member] Stock Outstanding After Four and a Half Years [Member]	Sep. 22, 2011 Senior Non-Cumulative Perpetual Preferred Stock, Series C [Member]	Dec. 12, 2008 Senior Non-Cumulative Perpetual Preferred Stock, Series C [Member]	Jun. 30, 2012 Senior Non-Cumulative Perpetual Preferred Stock, Series C [Member]
Preferred Stock, Shares Issued (in Shares)	20,500	20,500						20,500
Preferred Stock, Liquidation Preference Per Share (in Dollars per share)								$ 1,000
Proceeds from Issuance of Preferred Stock and Preference Stock (in Dollars)								$ 20,500,000
Preferred Stock, Dividend Rate, Percentage			1.00%	1.00%	5.00%	7.00%	9.00%	4.84%		1.30%
Stock Redeemed or Called During Period, Shares (in Shares)									20,500
Payments for Repurchase of Preferred Stock and Preference Stock (in Dollars)									20,600,000
Preferred Stock, Redemption Amount (in Dollars)									$ 20,500,000

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Condensed Consolidated Statements of Financial Condition (June 30, 2012 unaudited) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Cash and cash equivalents:
Cash and due from banks	$ 11,839	$ 13,296
Interest bearing deposits	116,985	75,048
Cash and cash equivalents	128,824	88,344
Investment securities available for sale, at fair value	18,358	52,136
Investment securities held to maturity, at amortized cost	82,276	95,763
Federal Home Loan Bank stock, at cost	4,443	5,067
Presold loans in process of settlement	2,146	2,146
Loans:
Covered by FDIC loss-share agreements	128,874	159,688
Not covered by FDIC loss-share agreements	587,498	574,100
Loans, net of deferred fees and costs	716,372	733,788
Allowance for loan losses	(11,735)	(11,713)
Loans, net	704,637	722,075
Other real estate owned	21,405	17,571
Premises and equipment, net	25,396	25,888
FDIC loss share receivable	28,863	38,931
Accrued interest receivable	1,840	2,773
Bank-owned life insurance	18,723	18,978
Intangible assets	1,141	1,373
Other assets	11,125	9,415
Total assets	1,049,177	1,080,460
LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits	852,764	876,056
Securities sold under repurchase agreements	7,554	9,787
Borrowed money	76,706	78,688
Subordinated debt	15,464	15,464
Other liabilities	7,216	7,806
Total liabilities	959,704	987,801
Shareholders' Equity
Preferred stock, $0.01 par value, Authorized: 1,000,000 shares; Issued and outstanding: 20,500 shares	20,500	20,500
Common stock, $0.01 par value, Authorized: 20,000,000 shares; Issued: 11,561,464 shares; Outstanding: 11,506,324 shares at June 30, 2012 and December 31, 2011	124	124
Additional paid-in-capital	64,209	63,888
Retained earnings, substantially restricted	4,647	7,854
Accumulated other comprehensive income (loss)	(7)	293
Total shareholders' equity	89,473	92,659
Total liabilities and shareholders' equity	$ 1,049,177	$ 1,080,460

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Note 7 - Credit Quality of Loans (Detail) - Newly Restructured Loans (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Total Number of Contracts	5	6
Pre-modification Outstanding Recorded Investment	$ 5,374	$ 1,648
Post-modification Outstanding Recorded Investment	4,083	1,648
Interest Only Modification [Member] | Commercial Real Estate Loans [Member]
Total Number of Contracts	1	3
Pre-modification Outstanding Recorded Investment	590	1,050
Post-modification Outstanding Recorded Investment	590	1,050
Interest Only Modification [Member]
Total Number of Contracts	1	3
Pre-modification Outstanding Recorded Investment	590	1,050
Post-modification Outstanding Recorded Investment	590	1,050
Term Modification [Member] | Commercial Real Estate Loans [Member]
Total Number of Contracts		3
Pre-modification Outstanding Recorded Investment		598
Post-modification Outstanding Recorded Investment		598
Term Modification [Member] | Residential Real Estate Loans [Member]
Total Number of Contracts	1
Pre-modification Outstanding Recorded Investment	208
Post-modification Outstanding Recorded Investment	208
Term Modification [Member]
Total Number of Contracts	1	3
Pre-modification Outstanding Recorded Investment	208	598
Post-modification Outstanding Recorded Investment	208	598
Debt Reduction [Member] | Commercial Land Loans [Member]
Total Number of Contracts	3
Pre-modification Outstanding Recorded Investment	4,576
Post-modification Outstanding Recorded Investment	3,285
Debt Reduction [Member]
Total Number of Contracts	3
Pre-modification Outstanding Recorded Investment	4,576
Post-modification Outstanding Recorded Investment	$ 3,285

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Condensed Consolidated Statements of Shareholders' Equity (unaudited) (USD $) In Thousands	Allocation From Shares Purchased With Loan To ESOP [Member] Additional Paid-in Capital [Member]	Allocation From Shares Purchased With Loan To ESOP [Member]	Vesting Of Recognition And Retention Plan [Member] Additional Paid-in Capital [Member]	Vesting Of Recognition And Retention Plan [Member]	Stock Compensation Plan [Member] Additional Paid-in Capital [Member]	Stock Compensation Plan [Member]	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Balances at Dec. 31, 2010							$ 20,672	$ 124	$ 63,000	$ 9,663	$ (16)	$ 93,443
Net income (loss)										1,405		1,405
Other comprehensive income (loss), net of tax											538	537
Accretion of discount on preferred stock							41			(41)
Stock-based compensation	22	22	50	50	53	53
Cash dividends on preferred stock										(512)		(512)
Cash dividends on common stock										(228)		(228)
Balances at Jun. 30, 2011							20,713	124	63,125	10,287	522	94,771
Balances at Dec. 31, 2011							20,500	124	63,888	7,854	293	92,659
Net income (loss)										(2,788)		(2,788)
Other comprehensive income (loss), net of tax											(300)	(300)
Stock-based compensation	25	25	246	246	50	50
Cash dividends on preferred stock										(190)		(190)
Cash dividends on common stock										(229)		(229)
Balances at Jun. 30, 2012							$ 20,500	$ 124	$ 64,209	$ 4,647	$ (7)	$ 89,473

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Note 14 - Fair Value of Financial Instruments (Detail) - The Carrying Amounts and Estimated Fair Values of Financial Instruments (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2010
Financial assets
Cash and due from banks	$ 11,839		$ 13,296
Cash and due from banks	11,839		13,296
Interest bearing deposits	116,985		75,048
Investment securities	100,634		147,899
Investment securities	103,205		150,251
Federal Home Loan Bank stock	4,443		5,067
Presold loans in process of settlement	2,146		2,146
Presold loans in process of settlement	2,146		2,146
Loans, net	704,637		722,075
Loans, net	714,077		735,685
FDIC loss share receivable	28,863	30,448	38,931	43,424	25,611	24,848
Accrued interest receivable	1,840		2,773
Bank-owned life insurance	18,723		18,978
Financial liabilities
Deposits carrying amount	852,764		876,056
Securities sold under repurchase agreements	7,554		9,787
Securities sold under repurchase agreements	7,554		9,787
Borrowed money	76,706		78,688
Borrowed money	85,089		87,697
Subordinated debt	15,464		15,464
Subordinated debt	7,732		7,732
Accrued interest payable	695		981
Demand Deposit Liabilities [Member]
Financial liabilities
Deposits carrying amount	295,379		287,466
Deposits fair value	295,379		287,466
Money Market Accounts [Member]
Financial liabilities
Deposits carrying amount	153,775		155,229
Deposits fair value	153,775		155,229
Savings Accounts [Member]
Financial liabilities
Deposits carrying amount	23,945		20,542
Deposits fair value	23,945		20,542
Time Deposits [Member]
Financial liabilities
Deposits carrying amount	379,665		412,819
Deposits fair value	$ 381,475		$ 415,145

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Note 4 - Earnings per Common Share (Detail) - Reconciliation of the Diluted Earnings per Share Calculation (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Net income (loss) allocable to common shareholders (in Dollars)	$ (716)	$ 2,040	$ (2,978)	$ 893
Weighted average number of shares outstanding	11,463,396	11,455,642	11,460,110	11,451,619
Weighted average number of shares outstanding - diluted	11,463,396	11,455,642	11,460,110	11,451,619
Diluted net income (loss) per common share (in Dollars per share)	$ (0.06)	$ 0.18	$ (0.26)	$ 0.08
Basic net income (loss) per common share (in Dollars per share)	$ (0.06)	$ 0.18	$ (0.26)	$ 0.08

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Note 15 - Subsequent Events

6 Months Ended

Jun. 30, 2012

Subsequent Events [Text Block]

Note 15 – Subsequent Events

The Company has evaluated subsequent events for accounting and disclosure purposes through the date the financial statements are issued.

Dividend Declaration.  On July 23, 2012, the Board of Directors of the Company approved and declared a regular cash dividend of one cent ($0.01) per share of common stock to shareholders of record as of August 6, 2012, payable on August 20, 2012. The Company has paid cash dividends in each of the 57 quarters since the Company’s conversion to public ownership.

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Note 5 - Investment Securities (Detail) (USD $) In Millions, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	10	13
Available-for-sale Securities Pledged as Collateral (in Dollars)	$ 78.1	$ 82.1
12 Months or Longer [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	5	5
Mortgage-backed Securities, Issued by Private Enterprises [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	4	6
Corporate Bond Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	4
Equity Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	2
US Government Corporations and Agencies Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions		1
Other Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions		6

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Note 5 - Investment Securities (Tables)

6 Months Ended

Jun. 30, 2012

Investment [Table Text Block]

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(Dollars in thousands)
June 30, 2012
Available for Sale:
Municipal bonds	$	1,675	$	3	$	-	$	1,678
Mortgage-backed securities		14,994		74		13		15,055
Other securities		1,701		44		120		1,625
Subtotal		18,370		121		133		18,358
Held to Maturity:
U.S. Treasury obligations		9,981		38		0		10,019
U.S. Government Agency obligations		13,996		59		-		14,055
Municipal bonds		3,272		91		-		3,363
Mortgage-backed securities		45,992		2,499		-		48,491
SBA securities		5,035		70		-		5,105
Other securities		4,000		-		186		3,814
Subtotal		82,276		2,757		186		84,847
Total investment securities	$	100,646	$	2,878	$	319	$	103,205
December 31, 2011
Available for Sale:
U.S. Government Agency obligations	$	7,168	$	73	$	-	$	7,241
Municipal bonds		6,578		133		-		6,711
Mortgage-backed securities		35,170		330		8		35,492
SBA securities		1,255		71		-		1,326
Other securities		1,488		44		166		1,366
Subtotal		51,659		651		174		52,136
Held to Maturity:
U.S. Treasury obligations		9,972		61		-		10,033
U.S. Government Agency obligations		25,989		74		4		26,059
Municipal bonds		3,300		99		-		3,399
Mortgage-backed securities		52,502		2,277		-		54,779
Other securities		4,000		-		155		3,845
Subtotal		95,763		2,511		159		98,115
Total investment securities	$	147,422	$	3,162	$	333	$	150,251

Investments Classified by Contractual Maturity Date [Table Text Block]

	Amortized Cost		Fair Value
	(Dollars in thousands)
Available for Sale:
Due in one year or less	$	3,181	$	3,188
Due after one year through five years		4,365		4,384
Due after five years through ten years		3,333		3,363
Due after ten years		5,804		5,856
Equities		1,687		1,567
Total	$	18,370	$	18,358
Held to Maturity:
		-		-
Due in one year or less	$	14,865	$	15,170
Due after one year through five years		29,996		30,607
Due after five years through ten years		25,350		25,733
Due after ten years		12,065		13,337
Total	$	82,276	$	84,847

Schedule of Unrealized Loss on Investments [Table Text Block]

	Less Than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(Dollars in thousands)
June 30, 2012
Available for Sale:
Mortgage-backed securities	$	3,493	$	13	$	-	$	-	$	3,493	$	13
Other securities		-		-		240		120		240		120
Subtotal		3,493		13		240		120		3,733		133
Held to Maturity:
Other securities		896		104		2,918		82		3,814		186
Subtotal		896		104		2,918		82		3,814		186
Total temporarily impaired securities	$	4,389	$	117	$	3,158	$	202	$	7,547	$	319
December 31, 2011
Available for Sale:
Mortgage-backed securities	$	4,619	$	8	$	88	$	-	$	4,707	$	8
Other securities		165		93		29		73		194		166
Subtotal		4,784		101		117		73		4,901		174
Held to Maturity:
U.S. Government Agency obligations		1,996		4		-		-		1,996		4
Other securities		997		3		2,848		152		3,845		155
Subtotal		2,993		7		2,848		152		5,841		159
Total temporarily impaired securities	$	7,777	$	108	$	2,965	$	225	$	10,742	$	333

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Condensed Consolidated Statements of Cash Flows (unaudited) (USD $)	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Cash flows from operating activities
Net income (loss)	$ (2,788,000)	$ 1,405,000
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Provision for loan losses	8,855,000	4,700,000
Depreciation of premises and equipment	649,000	645,000
Deferred income tax benefit	(1,363,000)	(304,000)
(Gain) loss on acquisition	175,000	(4,163,000)
Gain on sale of investment securities available for sale	(664,000)	(1,000)
Loss on sale of other real estate owned and repossessed assets	53,000	326,000
Valuation adjustment on other real estate owned	2,784,000	1,984,000
Net purchase accounting adjustments	(13,072,000)	5,828,000
Net decrease in presold loans in process of settlement		1,925,000
Deferred loan origination fees	117,000	101,000
Amortization of intangible assets	231,000	275,000
Decrease in accrued interest receivable	932,000	223,000
Decrease in other assets	2,972,000	14,956,000
Decrease in other liabilities	(588,000)	(1,178,000)
Net cash provided by (used in) operating activities	(1,386,000)	26,847,000
Cash flows from investing activities
Net decrease in loans made to customers	8,180,000	14,840,000
Proceeds from sales of investment securities available for sale	35,520,000	2,351,000
Proceeds from sales of other real estate owned	6,705,000	4,420,000
Proceeds from maturities/issuer calls of investment securities available for sale	13,745,000	5,607,000
Proceeds from maturities/issuer calls of investment securities held to maturity	26,691,000	6,594,000
Purchases of investment securities available for sale	(8,311,000)
Purchases of investment securities held to maturity	(13,204,000)	(48,714,000)
Net cash received in acquisition		7,912,000
Redemption of FHLB stock	624,000	507,000
Purchases of premises and equipment	(157,000)	(2,056,000)
Net cash provided by (used in) investment activities	69,793,000	(8,539,000)
Cash flows from financing activities
Net decrease in deposits	(23,542,000)	(42,602,000)
Dividends paid to common stockholders	(229,000)	(228,000)
Dividends paid to preferred stockholders	(190,000)	(512,000)
Net decrease in borrowed money and repurchase agreements	(4,216,000)	(6,882,000)
Increase in advances from borrowers for insurance and taxes	250,000	354,000
Net cash used in financing activities	(27,927,000)	(49,870,000)
Net increase (decrease) in cash and cash equivalents	40,480,000	(31,562,000)
Cash and cash equivalents at beginning of year	88,344,000	120,899,000
Cash and cash equivalents at end of year	128,824,000	89,337,000
Supplemental non-cash investing activity
Loans transferred to other real estate owned	13,358,000	10,469,000
Allocation From Shares Purchased With Loan To ESOP [Member]
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Stock-based compensation expense	25,000	22,000
Stock Compensation Plan [Member]
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Stock-based compensation expense	50,000	53,000
Vesting Of Recognition And Retention Plan [Member]
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Stock-based compensation expense	$ 246,000	$ 50,000

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Condensed Consolidated Statements of Financial Condition (June 30, 2012 unaudited) (Parentheticals) (USD $)	Jun. 30, 2012	Dec. 31, 2011
Preferred stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	20,500	20,500
Preferred stock, shares outstanding	20,500	20,500
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	11,561,464	11,561,464
Common stock, shares outstanding	11,506,324	11,506,324

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Note 10 - Deposits

6 Months Ended

Jun. 30, 2012

Deposit Liabilities Disclosures [Text Block]

Note 10 – Deposits

Deposit balances and average rates are detailed by category in the following table for the respective periods:

	June 30, 2012					December 31, 2011
	Amount		Average Rate			Amount		Average Rate
	(Dollars in thousands)
Noninterest-bearing demand	$	95,512		0.00	%	$	88,077		0.00	%
Interest-bearing demand		199,867		0.20	%		199,390		0.41	%
Money market deposit		153,775		0.29	%		155,228		0.52	%
Savings accounts		23,945		0.16	%		20,542		0.17	%
Time deposits		379,665		0.97	%		412,819		1.26	%
Total deposits	$	852,764		0.55	%	$	876,056		0.81	%

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Document And Entity Information	6 Months Ended
	Jun. 30, 2012	Aug. 14, 2012
Document and Entity Information [Abstract]
Entity Registrant Name	CITIZENS SOUTH BANKING CORP
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		11,506,324
Amendment Flag	false
Entity Central Index Key	0001051871
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Document Period End Date	Jun. 30, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q2

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Note 11 - Preferred Stock

6 Months Ended

Jun. 30, 2012

Preferred Stock [Text Block]

Note 11 – Preferred Stock

On September 22, 2011, the Company entered into a Securities Purchase Agreement with the Secretary of the United States Department of the Treasury (“Treasury”), pursuant to which the Company issued and sold to the Treasury 20,500 shares of its Senior Non-Cumulative Perpetual Preferred Stock, Series C (“Series C Preferred Stock”), having a liquidation preference of $1,000 per share, for aggregate proceeds of $20,500,000.    The Securities Purchase Agreement was entered into, and the Series C Preferred Stock was issued, pursuant to the Treasury’s Small Business Lending Fund program (“SBLF”), as established under the Small Business Jobs Act of 2010.   The Company’s rights and obligations with respect to the Series C Preferred Stock are set forth in the Securities Purchase Agreement and the Certificate of Designation to its Certificate of Incorporation filed by the Company with the Secretary State of the State of Delaware. The Series C Preferred Stock is entitled to receive non-cumulative dividends payable quarterly.  The dividend rate was initially set at 4.84% per annum based upon the initial level of qualified small business lending (“QSBL”) by the Bank.  The dividend rate for future dividend periods will be set based upon the percentage change in the QSBL between each dividend period and the baseline QSBL level.  This dividend rate may vary from 1% per annum to 5% per annum for the second through tenth dividend periods, from 1% per annum to 7% per annum for the eleventh through the second half of the nineteenth dividend periods.  The current dividend rate is 1.3%.  If the Series C Preferred Stock remains outstanding for more than four-and-one-half years, the dividend rate will be fixed at 9%.  Prior to that time the dividend rate decreases as the level of the Bank’s QSBL increases.  Also, the Company may redeem the shares of Series C Preferred Stock, in whole or in part, at any time subject to prior approval by the Company’s primary federal banking regulator.

As a result of the Company’s participation in SBLF, the Company redeemed all 20,500 shares of its Fixed Rate Cumulative Perpetual Preferred Stock, Series A, it sold to the Treasury on December 12, 2008, in connection with the Treasury’s Capital Purchase Program.  The Company paid $20.6 million to the Treasury to redeem the Series A Preferred Stock, which includes the original investment of $20.5 million, plus accrued dividends.

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Condensed Consolidated Statements of Operations (unaudited) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Interest Income
Interest and fees on loans	$ 9,355	$ 10,329	$ 19,002	$ 19,790
Investment securities:
Taxable interest income	606	983	1,343	1,776
Tax-exempt interest income	25	69	62	137
Other interest income	65	38	114	103
Total interest income	10,051	11,419	20,521	21,806
Interest Expense
Deposits	1,121	1,981	2,357	3,982
Repurchase agreements	7	19	14	37
Borrowed money	680	753	1,371	1,516
Subordinated debt	80	73	163	145
Total interest expense	1,888	2,826	3,905	5,680
Net interest income	8,163	8,593	16,616	16,126
Provision for loan losses	2,555	1,700	8,855	4,700
Net interest income after provision for loan losses	5,608	6,893	7,761	11,426
Noninterest Income
Service charges on deposit accounts	1,092	1,046	2,147	2,004
Mortgage banking income	393	254	710	491
Commissions on sales of financial products	67	69	153	136
Income from bank-owned life insurance	184	214	368	397
Gain (loss) from acquisition	(175)	4,418	(175)	4,163
Gain on sale of investments, available for sale		1	664	1
Gain (loss) on sale of other assets	85	(338)	(53)	(326)
Other	1,054	222	1,608	500
Total noninterest income	2,700	5,886	5,422	7,366
Noninterest Expense
Compensation and benefits	3,902	3,806	7,748	7,454
Occupancy and equipment	898	873	1,806	1,701
Data processing and other technology	235	296	491	530
Professional services	308	249	583	502
Advertising and business development	74	71	142	125
Loan collection and other expenses	864	204	1,116	494
Deposit insurance	(49)	361	369	695
Amortization of intangible assets	109	136	231	275
Office supplies	53	62	112	132
Telephone and communications	107	111	213	207
Other real estate owned valuation adjustments	1,784	1,476	2,784	1,984
Other real estate owned expenses	388	596	858	597
Acquisition and integration expenses		566		611
Other	859	463	1,767	1,638
Total noninterest expense	9,532	9,270	18,220	16,945
Income (Loss) before income tax expense (benefit)	(1,224)	3,509	(5,037)	1,847
Income tax expense (benefit)	(576)	1,213	(2,249)	442
Net income (loss)	(648)	2,296	(2,788)	1,405
Dividends on preferred stock	68	256	190	512
Net income (loss) allocable to common shareholders	$ (716)	$ 2,040	$ (2,978)	$ 893
Net income (loss) per common share - basic (in Dollars per share)	$ (0.06)	$ 0.18	$ (0.26)	$ 0.08
Net income (loss) per common share - diluted (in Dollars per share)	$ (0.06)	$ 0.18	$ (0.26)	$ 0.08

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Note 5 - Investment Securities

6 Months Ended

Jun. 30, 2012

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

Note 5 – Investment Securities

The following is a summary of the amortized cost, unrealized gains and losses, and estimated fair value of the investment securities portfolio at June 30, 2012 and December 31, 2011 by major classification:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(Dollars in thousands)
June 30, 2012
Available for Sale:
Municipal bonds	$	1,675	$	3	$	-	$	1,678
Mortgage-backed securities		14,994		74		13		15,055
Other securities		1,701		44		120		1,625
Subtotal		18,370		121		133		18,358
Held to Maturity:
U.S. Treasury obligations		9,981		38		0		10,019
U.S. Government Agency obligations		13,996		59		-		14,055
Municipal bonds		3,272		91		-		3,363
Mortgage-backed securities		45,992		2,499		-		48,491
SBA securities		5,035		70		-		5,105
Other securities		4,000		-		186		3,814
Subtotal		82,276		2,757		186		84,847
Total investment securities	$	100,646	$	2,878	$	319	$	103,205
December 31, 2011
Available for Sale:
U.S. Government Agency obligations	$	7,168	$	73	$	-	$	7,241
Municipal bonds		6,578		133		-		6,711
Mortgage-backed securities		35,170		330		8		35,492
SBA securities		1,255		71		-		1,326
Other securities		1,488		44		166		1,366
Subtotal		51,659		651		174		52,136
Held to Maturity:
U.S. Treasury obligations		9,972		61		-		10,033
U.S. Government Agency obligations		25,989		74		4		26,059
Municipal bonds		3,300		99		-		3,399
Mortgage-backed securities		52,502		2,277		-		54,779
Other securities		4,000		-		155		3,845
Subtotal		95,763		2,511		159		98,115
Total investment securities	$	147,422	$	3,162	$	333	$	150,251

The amortized cost and estimated fair value of investment securities available for sale and held to maturity at June 30, 2012, by contractual maturity are shown in the following table. Actual maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Amortized Cost		Fair Value
	(Dollars in thousands)
Available for Sale:
Due in one year or less	$	3,181	$	3,188
Due after one year through five years		4,365		4,384
Due after five years through ten years		3,333		3,363
Due after ten years		5,804		5,856
Equities		1,687		1,567
Total	$	18,370	$	18,358
Held to Maturity:
		-		-
Due in one year or less	$	14,865	$	15,170
Due after one year through five years		29,996		30,607
Due after five years through ten years		25,350		25,733
Due after ten years		12,065		13,337
Total	$	82,276	$	84,847

The following table shows the amount of the fair values and gross unrealized losses of the investment securities by investment types segregated between those that have been in a continuous unrealized-loss position for less than twelve months and those investments that have been in a continuous unrealized-loss position for more than twelve months at June 30, 2012 and December 31, 2011.  At June 30, 2012, the unrealized losses related to four mortgage-backed securities, four corporate bonds and two equity securities. Of these ten securities, five have been in a continuous unrealized-loss position for more than 12 months.  At December 31, 2011, the unrealized losses related to one U.S. Government Agency obligation, six mortgage-backed securities and six other securities.  Of these thirteen securities, five have been in a continuous unrealized-loss position for more than 12 months.

Management periodically evaluated each investment security for other than temporary impairment, relying primarily on industry analyst reports, market conditions, and interest rate fluctuations. As of June 30, 2012, and December 31, 2011, management concluded that the unrealized losses presented in the table below were temporary in nature since the unrealized losses were largely attributable to changes in interest rates and not a deterioration of the credit quality of the issuers.  Also, the Company has the intent and ability to hold these investment securities until maturity or until such unrealized losses are eliminated.

	Less Than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(Dollars in thousands)
June 30, 2012
Available for Sale:
Mortgage-backed securities	$	3,493	$	13	$	-	$	-	$	3,493	$	13
Other securities		-		-		240		120		240		120
Subtotal		3,493		13		240		120		3,733		133
Held to Maturity:
Other securities		896		104		2,918		82		3,814		186
Subtotal		896		104		2,918		82		3,814		186
Total temporarily impaired securities	$	4,389	$	117	$	3,158	$	202	$	7,547	$	319
December 31, 2011
Available for Sale:
Mortgage-backed securities	$	4,619	$	8	$	88	$	-	$	4,707	$	8
Other securities		165		93		29		73		194		166
Subtotal		4,784		101		117		73		4,901		174
Held to Maturity:
U.S. Government Agency obligations		1,996		4		-		-		1,996		4
Other securities		997		3		2,848		152		3,845		155
Subtotal		2,993		7		2,848		152		5,841		159
Total temporarily impaired securities	$	7,777	$	108	$	2,965	$	225	$	10,742	$	333

From time to time the Company will pledge investment securities as collateral to secure public deposits and for other purposes as required or allowed by law.  The amortized cost of these pledged investment securities was $78.1 million at June 30, 2012, and $82.1 million at December 31, 2011.

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Note 4 - Earnings per Common Share

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Text Block]

Note 4 – Earnings per Common Share

The Company has presented both basic and diluted earnings per common share (“EPS”).  Basic EPS is calculated by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding for the period, without considering any dilutive items.  Diluted EPS is calculated by dividing net income (loss) available to common shareholders by the sum of the weighted average number of common shares outstanding for the period and common stock equivalents for items that are dilutive, net of shares assumed to be repurchased using the treasury method.

The potential common stock of the Company includes stock options and unvested shares issued for the Recognition and Retention Plan (“RRP”) granted to various directors and officers of the Bank and unexercised warrants issued to the U.S. Treasury. The Company excluded 659,794 outstanding options for the three- and six-month periods ended June 30, 2012, and 745,602 outstanding options for the three- and six-month periods ended June 30, 2011.  In addition, the exercise price of all of these options exceeded the average closing price of the shares of common stock during the three and six month periods ended June 30, 2012 and 2011 and, accordingly would have been anti-dilutive and therefore excluded from the diluted EPS calculation. At June 30, 2011, all of the 450,314 warrants had an exercise price which was in excess of the market value of the stock, so no warrants were included in the calculation of diluted earnings per share for this period since they would have also been anti-dilutive.  There were no warrants outstanding at June 30, 2012.

The following is a reconciliation of the diluted earnings per share calculation for the three- and six-month periods ended June 30, 2012 and 2011:

	Three Months Ended June 30,					Six Months Ended June 30,
	2012			2011		2012			2011
	(Dollars in thousands, except per share amounts)
Net income (loss) allocable to common shareholders	$	(716	)	$	2,040	$	(2,978	)	$	893
Weighted average number of shares outstanding		11,463,396			11,455,642		11,460,110			11,451,619
Basic net income (loss) per common share	$	(0.06	)	$	0.18	$	(0.26	)	$	0.08
Net income (loss) allocable to common shareholders	$	(716	)	$	2,040	$	(2,978	)	$	893
Weighted average number of shares outstanding		11,463,396			11,455,642		11,460,110			11,451,619
Incremental shares from assumed exercise of stock options and warrants		-			-		-			-
Weighted average number of shares outstanding - diluted		11,463,396			11,455,642		11,460,110			11,451,619
Diluted net income (loss) per common share	$	(0.06	)	$	0.18	$	(0.26	)	$	0.08

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Note 4 - Earnings per Common Share (Tables)

6 Months Ended

Jun. 30, 2012

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Three Months Ended June 30,					Six Months Ended June 30,
	2012			2011		2012			2011
	(Dollars in thousands, except per share amounts)
Net income (loss) allocable to common shareholders	$	(716	)	$	2,040	$	(2,978	)	$	893
Weighted average number of shares outstanding		11,463,396			11,455,642		11,460,110			11,451,619
Basic net income (loss) per common share	$	(0.06	)	$	0.18	$	(0.26	)	$	0.08
Net income (loss) allocable to common shareholders	$	(716	)	$	2,040	$	(2,978	)	$	893
Weighted average number of shares outstanding		11,463,396			11,455,642		11,460,110			11,451,619
Incremental shares from assumed exercise of stock options and warrants		-			-		-			-
Weighted average number of shares outstanding - diluted		11,463,396			11,455,642		11,460,110			11,451,619
Diluted net income (loss) per common share	$	(0.06	)	$	0.18	$	(0.26	)	$	0.08

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Note 12 - Commitments

6 Months Ended

Jun. 30, 2012

Commitments and Contingencies Disclosure [Text Block]

Note 12 – Commitments

Commitments to extend credit are agreements to lend as long as there is no violation of any condition established in the contract.  Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee.  Since commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements.  These commitments represent no more than normal lending risk that the Bank commits to its borrowers and management believes that these commitments can be funded through normal operations.

Commitments to extend credit at the respective periods are detailed in the following table.

	June 30, 2012		December 31, 2011
	(Dollars in thousands)
Loan commitments
Residential mortgage loans	$	10,218	$	24,484
Total loan commitments	$	10,218	$	24,484
Unused lines of credit
Residential construction	$	8,260	$	7,390
Commercial real estate		15,738		18,593
Commercial business		10,962		9,558
Consumer		74,525		74,930
Total unused lines of credit	$	109,485	$	110,471
Undisbursed Construction Loan Proceeds	$	795	$	1,200

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Note 8 - Allowance for Loan Losses

6 Months Ended

Jun. 30, 2012

Allowance for Credit Losses [Text Block]

Note 8 - Allowance for Loan Losses

The Company has established a systematic methodology for determining the allowance for loan losses.  This methodology is set forth in a formal policy and considers all non-covered loans in the portfolio.    The two primary components of the Company’s loan loss methodology are as follows:

1)  Quantitative Reserve Component. Quantitative reserves represent the current loss contingency estimate on pools of loans, which is an estimate of the amount for which it is probable that the Company will be unable to collect all amounts due on homogeneous groups of loans according to contractual terms should one or more events occur, excluding those loans specifically identified above. This component of the allowance for loan losses is based on the historical loss experience of the Company. This loss experience was collected by evaluating internal loss data. The historical loss rates are grouped by loan product type. The Company utilizes average historical losses over the prior eight quarters in evaluating this component for all loan types.

2)  Qualitative Reserve Component. Qualitative reserves represent an estimate of the amount for which it is probable that environmental or other relevant factors will cause the loss contingency estimate to differ from the Company’s historical loss experience or other assumptions. The Company considers portfolio trends; portfolio concentrations; economic and market trends; changes in lending practices; and other factors to evaluate the need for qualitative adjustments.

A reconciliation of the allowance for loan losses for the three and six month periods ended June 30, 2012 and 2011 is as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
	(Dollars in thousands)
Balance - Beginning of period	$	11,583		$	12,006		$	11,713		$	11,924
Charge-offs:
One-to-four family residential		(518	)		(312	)		(1,417	)		(1,137	)
Construction		-			(5	)		-			(41	)
Commercial land		(101	)		(291	)		(191	)		(2,244	)
Residential development		(313	)		(386	)		(2,805	)		(386	)
Other commercial real estate		(938	)		(256	)		(2,319	)		(256	)
Consumer real estate		(774	)		(35	)		(2,504	)		(91	)
Commercial business		(227	)		(35	)		(227	)		(188	)
Other consumer		(22	)		(5	)		(33	)		(18	)
Total charge-offs		(2,893	)		(1,325	)		(9,496	)		(4,361	)
Recoveries:
One-to-four family residential		35			4			68			7
Multifamily residential		4			-			4			-
Construction		2			181			-			231
Commercial land		119			-			119			-
Residential development		32			128			89			128
Other commercial real estate		235			30			314			14
Consumer real estate		59			2			61			9
Commercial business		1			10			3			13
Other consumer		3			6			5			77
Total recoveries		490			361			663			479
Provision for loan losses		2,555			1,700			8,855			4,700
Balance - End of period	$	11,735		$	12,742		$	11,735		$	12,742

Loans totaling $128.9 million that were covered under the FDIC loss-share agreements were not included in the Company’s evaluation of the adequacy of loan loss allowances since potential losses are covered up to at least 80% by the FDIC.  These covered loans were recorded at their estimated fair value at the time of the acquisition.  Management evaluates the adequacy of the fair value of these acquired loans on a periodic basis to ensure that the existing values remain reasonable.  If the fair value of these loans is not considered adequate, then the principal balance of the loan is written down to the current fair value through a charge to the provision for loan losses on acquired loans.  The Company recognized loan loss provision expense on acquired loans in the amount of $505,000 for the six months ended June 30, 2012.  There was no such provision expense recognized during the six month period ended June 30, 2011.

The following table presents a disaggregated analysis of the activity in the allowance for loan losses and loan balances for non-covered loans for the three months ended June 30, 2012 and June 30, 2011.

	One-to-four family residential			Multifamily residential		Construction			Commercial land			Residential development			Other commercial real estate			Consumer real estate			Commercial business			Other consumer			Total
	(Dollars in thousands)
June 30, 2012
Allowance for loan losses
Balance - April 1, 2012	$	534		$	150	$	650		$	2,344		$	2,064		$	1,927		$	1,372		$	2,002		$	540		$	11,583
Charge-offs		(475	)		-		-			-			(232	)		(688	)		(759	)		(217	)		(11	)		(2,382	)
Recoveries		35			-		2			119			32			235			57			1			3			484
Provision		450			-		-			-			150			500			650			250			50			2,050
Balance - June 30, 2012	$	544		$	150	$	652		$	2,463		$	2,014		$	1,974		$	1,320		$	2,036		$	582		$	11,735
Loans individually evaluated for impairment	$	-		$	-	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Loans collectively evaluated for impairment	$	544		$	150	$	652		$	2,463		$	2,014		$	1,974		$	1,320		$	2,036		$	582		$	11,735
Loans
Loans individually evaluated for impairment	$	4,488		$	-	$	-		$	3,194		$	3,472		$	14,401		$	1,047		$	945		$	18		$	27,565
Loans collectively evaluated for impairment		109,833			17,074		27,114			19,691			6,596			233,874			98,115			42,690			4,946			559,933
Total non-covered loans	$	114,321		$	17,074	$	27,114		$	22,885		$	10,068		$	248,275		$	99,162		$	43,635		$	4,964		$	587,498
June 30, 2011
Allowance for loan losses
Balance - April 1, 2011	$	528		$	200	$	1,014		$	2,014		$	1,996		$	1,645		$	1,551		$	2,500		$	558		$	12,006
Charge-offs		(312	)		-		(5	)		(291	)		(386	)		(256	)		(35	)		(35	)		(5	)		(1,325	)
Recoveries		4			-		181			-			128			30			2			10			6			361
Provision		300			-		-			500			300			500			50			50			-			1,700
Balance - June 30, 2011	$	520		$	200	$	1,190		$	2,223		$	2,038		$	1,919		$	1,568		$	2,525		$	559		$	12,742
Loans individually evaluated for impairment	$	-		$	-	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Loans collectively evaluated for impairment		520			200		1,190			2,223			2,038			1,919			1,568			2,525			559			12,742
Total	$	520		$	200	$	1,190		$	2,223		$	2,038		$	1,919		$	1,568		$	2,525		$	559		$	12,742
December 31, 2011
Loans
Loans individually evaluated for impairment	$	2,739		$	-	$	-		$	2,826		$	8,262		$	12,657		$	2,630		$	169		$	89		$	29,372
Loans collectively evaluated for impairment		114,120			16,759		19,602			25,296			8,182			213,326			100,891			40,992			5,560			544,728
Total non-covered loans	$	116,859		$	16,759	$	19,602		$	28,122		$	16,444		$	225,983		$	103,521		$	41,161		$	5,649		$	574,100

The following tables present a disaggregated analysis of the activity in the allowance for loan losses and loan balances for non-covered loans for the six months ended June 30, 2012 and June 30, 2011.

	One-to-four family residential			Multifamily residential		Construction			Commercial land			Residential development			Other commercial real estate			Consumer real estate			Commercial business			Other consumer			Total
	(Dollars in thousands)
June 30, 2012
Allowance for loan losses
Balance - January 1, 2012	$	500		$	150	$	800		$	2,334		$	1,999		$	1,830		$	1,600		$	2,000		$	500		$	11,713
Charge-offs		(1,374	)		-		-			(90	)		(2,724	)		(2,069	)		(2,489	)		(217	)		(22	)		(8,985	)
Recoveries		68			-		-			119			89			314			59			3			5			657
Provision		1,350			-		(150	)		100			2,650			1,900			2,150			250			100			8,350
Balance - June 30, 2012	$	544		$	150	$	650		$	2,463		$	2,014		$	1,975		$	1,320		$	2,036		$	583		$	11,735
Loans individually evaluated for impairment	$	-		$	-	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Loans collectively evaluated for impairment	$	544		$	150	$	650		$	2,463		$	2,014		$	1,975		$	1,320		$	2,036		$	583		$	11,735
Loans
Loans individually evaluated for impairment	$	4,488		$	-	$	-		$	3,194		$	3,472		$	14,401		$	1,047		$	945		$	18		$	27,565
Loans collectively evaluated for impairment		109,833			17,074		27,114			19,691			6,596			233,874			98,115			42,690			4,946			559,933
Total non-covered loans	$	114,321		$	17,074	$	27,114		$	22,885		$	10,068		$	248,275		$	99,162		$	43,635		$	4,964		$	587,498
June 30, 2011
Allowance for loan losses
Balance - January 1, 2011	$	500		$	200	$	1,000		$	2,163		$	2,000		$	1,561		$	1,500		$	2,500		$	500		$	11,924
Charge-offs		(1,137	)		-		(41	)		(2,244	)		(386	)		(256	)		(91	)		(188	)		(18	)		(4,361	)
Recoveries		7			-		231			-			128			14			9			13			77			479
Provision		1,150			-		-			1,250			1,350			600			150			200			-			4,700
Balance - June 30, 2011	$	520		$	200	$	1,190		$	1,169		$	3,092		$	1,919		$	1,568		$	2,525		$	559		$	12,742
Loans individually evaluated for impairment	$	-		$	-	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Loans collectively evaluated for impairment		520			200		1,190			1,169			3,092			1,919			1,568			2,525			559			12,742
Total	$	520		$	200	$	1,190		$	1,169		$	3,092		$	1,919		$	1,568		$	2,525		$	559		$	12,742
December 31, 2011
Loans
Loans individually evaluated for impairment	$	2,739		$	-	$	-		$	2,826		$	8,262		$	12,657		$	2,630		$	169		$	89		$	29,372
Loans collectively evaluated for impairment		114,120			16,759		19,602			25,296			8,182			213,326			100,891			40,992			5,560			544,728
Total non-covered loans	$	116,859		$	16,759	$	19,602		$	28,122		$	16,444		$	225,983		$	103,521		$	41,161		$	5,649		$	574,100

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Note 15 - Subsequent Events (Detail) (USD $)	1 Months Ended
	Jul. 23, 2012
Common Stock, Dividends, Per Share, Declared	$ 0.01

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Note 6 - Loans

6 Months Ended

Jun. 30, 2012

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

Note 6 - Loans

The Company makes various business and consumer loans in the normal course of business.  A brief description of these types of loans is as follows:

One-to-four family residential – This portfolio primarily consists of loans secured by residential properties located in the Company’s normal lending area.  These are amortizing loans with either fixed or adjustable rates for terms of 10 to 30 years, including conventional and jumbo loans.  These loans generally have an original loan-to-value ratio (“LTV”) of 80% or less.  Those loans with an initial LTV of more than 80% typically have private mortgage insurance to protect the Company.  This type of loan has historically possessed a lower than average level of loss to the Company compared to the Company’s entire loan portfolio.

Multifamily residential – This portfolio is moderately seasoned and is generally secured by multifamily residential properties in the Company’s normal lending area.  These loans generally have an initial LTV of 75% and an initial debt service coverage ratio of 1.2x to 1.0x.  The Company has not experienced any significant losses in this loan portfolio over the past 24 months.

Construction – This portfolio has decreased significantly over the past several years as fewer construction loans have been made during the economic downturn.  These loans are generally located in the Company’s normal lending area and were originated with an initial LTV of 80%.  Approximately 57% of these loans are secured by residential properties and 43% are secured by commercial properties.  The Company has not experienced any significant losses in this loan portfolio over the past 24 months.

Commercial land and residential development – These categories include raw undeveloped land and developed residential lots held by builders and developers.  Generally, the initial LTV for raw land was 65% and the initial LTV for developed lots was 90%.  Given the significant decline in value for both developed and undeveloped land due to reduced demand, these loan portfolios possess a much higher level of risk compared to other loan categories.  These portfolios have experienced the highest level of losses for the Company over the past 24 months.

Other commercial real estate – This portfolio consists of nonresidential improved real estate which includes churches, shopping centers, office buildings, etc.  These loans typically have an initial LTV of 75% and an initial debt service ratio of 1.2x to 1.0x.  Approximately 43% of this portfolio is secured by owner-occupied nonresidential properties.  These properties are generally located in the Company’s normal lending area.  Decreased rental income due to the economic slowdown has caused some deterioration in collateral values.   However, this loan portfolio has historically possessed a slightly lower than average loan loss ratio compared to the Company’s entire loan portfolio over the past 24 months.

Consumer real estate – Approximately 85% of this category includes home equity lines of credit (“HELOCs”) and approximately 15% of these loans are secured by residential lots purchased by consumers.  The HELOCs generally have an adjustable rate tied to prime rate and a term of 15 years.  The HELOCs initially had an LTV of up to 85%.  The residential lot loans typically have a term of five years or less and were made at an initial LTV of up to 90%.  Many of these properties have declined in value over the past several years.  The portfolio of consumer lot loans has experienced a higher than average level of loan losses over the past 24 months.  However, the portfolio of HELOCs has experienced a lower than average loan loss ratio over the past 24 months.

Commercial business – This category includes loans to small and medium-sized businesses that are not secured by real estate.  These loans are typically secured by accounts receivable, inventory, equipment, etc.  These loans are typically granted to local businesses that have a strong track record of profitability and performance.  This category of loans incurred slightly lower than average losses for the Company over the past 24 months.

Other consumer - These loans are either unsecured or secured by automobiles, marketable securities, etc.  They are generally granted to local customers that have an established banking relationship with our Bank.  The loss history for this category of loans has been much lower than the Company’s historical average over the past 24 months.

The following is a summary of loans outstanding by category at the periods presented:

	June 30, 2012						December 31, 2011
	Loans Covered by FDIC Loss Share Agreements		Loans Not Covered by FDIC Loss Share Agreements		Total		Loans Covered by FDIC Loss Share Agreements		Loans Not Covered by FDIC Loss Share Agreements		Total
	(Dollars in thousands)
Real estate:
One-to-four family residential	$	29,026	$	114,321	$	143,347	$	34,641	$	116,859	$	151,500
Multifamily residential		2,882		17,074		19,956		2,926		16,759		19,685
Construction		33		27,114		27,147		1,255		19,602		20,857
Commercial land		8,782		22,885		31,667		13,670		28,122		41,792
Residential development		6,026		10,068		16,094		8,095		16,444		24,539
Owner occupied commercial real estate		17,872		116,435		134,307		20,027		95,990		116,017
Non-owner occupied commercial real estate		47,344		131,840		179,184		56,285		129,993		186,278
Consumer real estate		9,457		99,162		108,619		11,148		103,521		114,669
Total real estate		121,422		538,899		660,321		148,047		527,290		675,337
Commercial business		4,795		43,635		48,430		7,866		41,161		49,027
Other consumer		2,657		4,964		7,621		3,775		5,649		9,424
Total loans, net of deferred fees and costs	$	128,874	$	587,498		716,372	$	159,688	$	574,100		733,788
Less: Allowance for loan losses						11,735						11,713
Total loans, net					$	704,637					$	722,075

The Company, through its normal lending activity, originates substantially all of its loans to borrowers that are located in the Piedmont (central) Region of North and South Carolina and the North Georgia Region. The Company also has presold loans in process of settlement which totaled $2.1 million at June 30, 2012 and December 31, 2011.  These presold loans in process of settlement were not included in the table above.

As of June 30, 2012, the Company had $128.9 million in loans covered by FDIC loss-share agreements as a result of the acquisition of loans from Bank of Hiawassee and New Horizons Bank in separate FDIC-assisted transactions (referred to as “covered loans”).  The loans acquired in the Bank of Hiawassee transaction in March 2010 are covered by two loss-share agreements between the FDIC and the Bank, which afford the Bank significant protection against future loan losses.  Under these loss-share agreements, the FDIC will cover 80% of net loan losses up to $102 million and 95% of net loan losses that exceed $102 million.  The term of the loss-share agreements is ten years for losses and recoveries on residential real estate loans and five years for losses and eight years on recoveries on nonresidential loans. At acquisition, the Bank recorded an estimated receivable from the FDIC in the amount of $36.3 million, which represented the discounted value of the FDIC’s estimated portion of the expected future loan losses.  New loans made after the acquisition date are not covered by the FDIC loss-share agreements. These covered loans totaled $93.7 million at June 30, 2012.

In April 2011 the Company acquired New Horizons Bank in an FDIC-assisted transaction.  As part of this transaction, the Company acquired $49.3 million in loans at fair value. Of the acquired loans, $47.4 million are covered by two loss-share agreements between the FDIC and the Bank.  Under these loss-share agreements, the FDIC will cover 80% of net loan losses and qualified expenses.  The term of the loss-share agreements is ten years for losses and recoveries on residential real estate loans and five years for losses and eight years on recoveries on nonresidential loans. At acquisition, the Bank recorded an estimated receivable from the FDIC in the amount of $19.9 million, which represented the discounted value of the FDIC’s estimated portion of the expected future loan losses.  The remaining $1.9 million in loans acquired in the New Horizons Bank transaction were not covered by FDIC loss-share agreements.  As such, any losses incurred on these non-covered loans will be the sole responsibility of the Bank. New loans made after the acquisition date are not covered by the FDIC loss-share agreements. These covered loans totaled $35.2 million at June 30, 2012.

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Note 7 - Credit Quality of Loans

6 Months Ended

Jun. 30, 2012

Loan Credit Quality [Text Block]

Note 7 – Credit Quality of Loans

Aging Analysis of Loans.  The Company considers a loan to be past due when the terms of the contractual obligation are not met by the borrower.  The following table presents an aging analysis of the Company’s loans not covered by FDIC loss-share agreements, loans covered by FDIC loss-share agreements and total loans summarizing current loans, past due loans, and nonaccrual loans by category at June 30, 2012 and December 31, 2011.

June 30, 2012	30 - 59 Days Past Due		60 - 89 Days Past Due		90 Days or More Past Due and Accruing		Nonaccrual		Total Past Due		Current		Total Loans		Recorded Investment 90 Days or More and Accruing
	(Dollars in thousands)
Not covered by FDIC loss-share agreements
Real estate:
One-to-four family residential	$	489	$	88	$	-	$	4,230	$	4,807	$	109,514	$	114,321	$	-
Multifamily residential		-		-		-		-		-		17,074		17,074		-
Construction		-		-		-		-		-		27,114		27,114		-
Commercial land		-		-		151		3,018		3,169		19,716		22,885		154
Residential development		-		-		-		3,000		3,000		7,068		10,068		-
Other commercial real estate		235		682		-		8,489		9,406		238,869		248,275		-
Consumer real estate		255		-		-		961		1,216		97,946		99,162		-
Total real estate		979		770		151		19,698		21,598		517,301		538,899		154
Commercial business		24		-		-		945		969		42,666		43,635		-
Other consumer		32		7		-		15		54		4,910		4,964		-
Total	$	1,035	$	777	$	151	$	20,658	$	22,621	$	564,877	$	587,498	$	154
Covered by FDIC loss-share agreements
Real estate:
One-to-four family residential	$	759	$	135	$	61	$	7,566	$	8,521	$	20,505	$	29,026	$	63
Multifamily residential		-		-		-		380		380		2,502		2,882		-
Construction		-		-		-		-		-		33		33		-
Commercial land		-		106		-		3,944		4,050		4,732		8,782		-
Residential development		-		-		-		3,759		3,759		2,267		6,026		-
Other commercial real estate		29		206		-		17,785		18,020		47,196		65,216		-
Consumer real estate		229		-		-		967		1,196		8,261		9,457		-
Total real estate		1,017		447		61		34,401		35,926		85,496		121,422		63
Commercial business		8		-		163		1,422		1,593		3,202		4,795		169
Other consumer		23		-		-		413		436		2,221		2,657		-
Total	$	1,048	$	447	$	224	$	36,236	$	37,955	$	90,919	$	128,874	$	232
Total at June 30, 2012
Real estate:
One-to-four family residential	$	1,248	$	223	$	61	$	11,796	$	13,328	$	130,019	$	143,347	$	63
Multifamily residential		-		-		-		380		380		19,576		19,956		-
Construction		-		-		-		-		-		27,147		27,147		-
Commercial land		-		106		151		6,962		7,219		24,448		31,667		154
Residential development		-		-		-		6,759		6,759		9,335		16,094		-
Other commercial real estate		264		888		-		26,274		27,426		286,065		313,491		-
Consumer real estate		484		-		-		1,928		2,412		106,207		108,619		-
Total real estate		1,996		1,217		212		54,099		57,524		602,797		660,321		217
Commercial business		32		-		163		2,367		2,562		45,868		48,430		169
Other consumer		55		7		-		428		490		7,131		7,621		-
Total	$	2,083	$	1,224	$	375	$	56,894	$	60,576	$	655,796	$	716,372	$	386

December 31, 2011	30 - 59 Days Past Due		60 - 89 Days Past Due		90 Days or More Past Due and Accruing		Nonaccrual		Total Past Due		Current		Total Loans		Recorded Investment 90 Days or More and Accruing
	(Dollars in thousands)
Not covered by FDIC loss-share agreements
Real estate:
One-to-four family residential	$	80	$	1,634	$	-	$	2,407	$	4,121	$	112,738	$	116,859	$	-
Multifamily residential		-		-		-		-		-		16,759		16,759		-
Construction		-		93		-		-		93		19,509		19,602		-
Commercial land		-		-		-		2,631		2,631		25,491		28,122		-
Residential development		-		-		-		6,474		6,474		9,970		16,444		-
Other commercial real estate		81		1,873		-		4,173		6,127		219,856		225,983		-
Consumer real estate		761		388		335		2,543		4,027		99,494		103,521		338
Total real estate		922		3,988		335		18,228		23,473		503,817		527,290		338
Commercial business		7		-		-		168		175		40,986		41,161		-
Other consumer		13		3		-		80		96		5,553		5,649		-
Total	$	942	$	3,991	$	335	$	18,476	$	23,744	$	550,356	$	574,100	$	338
Covered by FDIC loss-share agreements
Real estate:
One-to-four family residential	$	1,530	$	2,220	$	215	$	8,441	$	12,406	$	22,235	$	34,641	$	219
Multifamily residential		-		-		-		216		216		2,710		2,926		-
Construction		-		-		-		1,191		1,191		64		1,255		-
Commercial land		140		11		10		6,704		6,865		6,805		13,670		11
Residential development		-		-		-		4,578		4,578		3,517		8,095		-
Other commercial real estate		351		466		495		17,454		18,766		57,546		76,312		511
Consumer real estate		236		15		-		634		885		10,263		11,148		-
Total real estate		2,257		2,712		720		39,218		44,907		103,140		148,047		741
Commercial business		90		39		23		3,484		3,636		4,230		7,866		24
Other consumer		141		133		57		554		885		2,890		3,775		58
Total	$	2,488	$	2,884	$	800	$	43,256	$	49,428	$	110,260	$	159,688	$	823
Total at December 31, 2011
Real estate:
One-to-four family residential	$	1,610	$	3,854	$	215	$	10,848	$	16,527	$	134,973	$	151,500	$	219
Multifamily residential		-		-		-		216		216		19,469		19,685		-
Construction		-		93		-		1,191		1,284		19,573		20,857		-
Commercial land		140		11		10		9,335		9,496		32,296		41,792		11
Residential development		-		-		-		11,052		11,052		13,487		24,539		-
Other commercial real estate		432		2,339		495		21,627		24,893		277,402		302,295		511
Consumer real estate		997		403		335		3,177		4,912		109,757		114,669		338
Total real estate		3,179		6,700		1,055		57,446		68,380		606,957		675,337		1,079
Commercial business		97		39		23		3,652		3,811		45,216		49,027		24
Other consumer		154		136		57		634		981		8,443		9,424		58
Total	$	3,430	$	6,875	$	1,135	$	61,732	$	73,172	$	660,616	$	733,788	$	1,161

Troubled Debt Restructurings.  The Company adopted the amendments in Accounting Standards Update (“ASU”) No. 2011-02 Receivables (Topic 310): A Creditor’s Determination of Whether a Restructuring Is a Troubled Debt Restructuring, during the quarter ended September 30, 2011, and has reassessed all restructurings that occurred on or after the beginning of the 2011 fiscal year for identification as troubled debt restructurings (“TDRs”). The Company identified as TDRs certain receivables for which the allowance for credit losses had previously been measured under a general allowance for credit losses methodology (ASC 450-20). Upon identifying the reassessed receivables as TDRs, the Company also identified them as impaired under the new guidance in ASC 310-10-35. The amendments in ASU No. 2011-02 require prospective application of the impairment measurement guidance in Section 310-10-35 for those receivables newly identified as impaired. At the end of the second interim period of adoption for the Company, the recorded investment in the receivables for which the allowance for credit losses was previously measured under a general allowance for credit losses methodology and are now impaired under Section 310-10-35 was $1.3 million (310-40-65-1(b)), and there was no allowance for credit losses associated with those receivables, on the basis of a current evaluation of loss (310-40-65-1(b)).

The modification or restructuring of a debt constitutes a TDR if we, for economic or legal reasons related to the borrower’s financial difficulties, grant a concession to the borrowers that we would not otherwise consider. Some examples of modifications are described below:

Rate modification –  A modification in which only the interest rate is changed.

Term modification – A modification in which the maturity date, timing of payments, or frequency of payments is changed.

Interest only modification – A modification in which the loan is converted to interest only payments for a period of time.

Debt Reduction Modification – A modification in which a portion of the debt is reduced.

Payment Modification – A modification in which the dollar amount of the payment is changed, other than an interest only modification described above.

Transfer of Assets Modification– A modification in which a transfer of assets has occurred to partially satisfy debt, including foreclosure and repossession.

Combination Modification – Any other type of modification, including the use of multiple categories above.

The following table presents the Bank’s loans classified as TDRs by loan type as of June 30, 2012 and December 31, 2011:

	Accrual Status		Non-accrual Status		Total Contracts		Total TDRs
	(Dollars in thousands)
June 30, 2012
One-to-four family residential	$	220	$	-	$	2	$	220
Commercial land		875		678		3		1,553
Residential development		-		141		1		141
Other commercial real estate		4,450		4,936		23		9,386
Commercial business		-		885		1		885
Total	$	5,545	$	6,640	$	30	$	12,185
December 31, 2011
One-to-four family residential	$	12	$	-		1	$	12
Commercial land		195		89		2		284
Residential development		633		-		2		633
Other commercial real estate		6,955		1,159		24		8,114
Total	$	7,795	$	1,248	$	29	$	9,043

The following table presents new TDRs that were restructured during the six months ended June 30, 2012, and June 30, 2011:

	Six Months Ended June 30, 2012						Six Months Ended June 30, 2011
	Total Number of Contracts		Pre-modification Outstanding Recorded Investment		Post-modification Outstanding Recorded Investment		Total Number of Contracts		Pre-modification Outstanding Recorded Investment		Post-modification Outstanding Recorded Investment
	(Dollars in thousands)
Interest only modification:
Commercial real estate		1		590		590		3		1,050		1,050
Subtotal		1	$	590	$	590		3	$	1,050	$	1,050
Term modification:
Residential real estate		1	$	208	$	208		-	$	-	$	-
Commercial business		-		-		-		3		598		598
Subtotal		1	$	208	$	208		3	$	598	$	598
Debt reduction reduction:
Commercial land		3	$	4,576	$	3,285		-	$	-	$	-
Subtotal		3	$	4,576	$	3,285		-	$	-	$	-
Total		5	$	5,374	$	4,083		6	$	1,648	$	1,648

All TDRs are not automatically placed on nonaccrual status.  Generally, those TDRs that are placed on non-accrual status may return to accrual status when the borrower has sustained repayment performance in accordance with the modified terms.  The number of payments needed to meet these criteria varies from loan to loan.  However, as a general rule, most non-accrual loans should be able to return to accrual status after the payment of six consecutive regular scheduled payments. During the six month period ended June 30, 2012, there were no payment defaults on any TDRs.  During the 12 month period ended December 31, 2011, there was one payment default on a residential TDR.  The collateral for this residential loan was acquired through foreclosure and was sold during the third quarter of 2011.  The loan had an original principal balance of $1.1 million and the resulting loss from disposition of the collateral was approximately $335,000.

Also, in the normal course of business, the Company will make loan restructurings or modifications to borrowers for reasons unrelated to the borrower’s financial condition.  These restructurings or modifications are made based on the prevailing interest rates and terms offered to other borrowers for similar types of loans at the time of the modification. These types of debt restructurings or loan modifications would not be considered troubled debt restructurings.

Impaired Loans.  The Company evaluates impairment of its non-covered residential mortgage and consumer loans on a collective basis, while non-covered commercial and construction loans are evaluated individually for impairment.  The Company identifies a non-covered loan as impaired when it is probable that principal and interest will not be collected when due according to the contractual terms of the loan agreement.  Principal write-downs may be recognized for individual non-covered loans that management considers impaired.  The remainder of the portfolio of non-covered loans is segmented into groups of loans with similar risk characteristics for evaluation and analysis. Since all estimated impairments resulted in principal writedowns, there were no specific related allowances for the impaired loans at June 30, 2012, or December 31, 2011.

The following table details the Company’s impaired loans by type at June 30, 2012, and December 31, 2011:

	June 30, 2012								December 31, 2011
	Recorded Investment		Unpaid Principal Balance		Net Principal Balance		Related Allowance		Recorded Investment		Unpaid Principal Balance		Net Principal Balance		Related Allowance
	(Dollars in thousands)
June 30, 2012
One-to-four family residential	$	4,696	$	5,143	$	4,488	$	-	$	2,781	$	2,739	$	2,739	$	-
Commercial land		3,355		4,343		3,194		-		3,062		4,523		2,826		-
Residential development		3,679		5,427		3,472		-		8,428		10,173		8,262		-
Commercial real estate - office		7,449		8,584		7,375		-		6,322		7,573		6,305		-
Commercial real estate - residential rental		2,288		2,933		2,244		-		4,076		4,808		4,029		-
Commercial real estate - owner-occupied		2,721		3,301		2,614		-		-		-		-		-
Commercial real estate - other		2,188		2,585		2,168		-		2,426		2,945		2,323		-
Consumer real estate		1,158		1,968		1,047		-		2,689		2,801		2,630		-
Commercial business		948		945		945		-		169		169		169		-
Other consumer		18		18		18		-		89		90		89		-
Total impaired loans	$	28,500	$	35,247	$	27,565	$	-	$	30,042	$	35,821	$	29,372	$	-

Credit Quality Indicators. We categorize loans using various credit quality indicators based on relevant information about the ability of borrowers to service their debts such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors.  We analyze loans individually by classifying the loans as to credit risk.  This analysis is performed on at least a quarterly basis.  We use the following definitions for credit quality indicators:

Pass - Loans in classes that comprise the commercial business and consumer segments that are not adversely rated, are contractually current as to principal and interest, and are otherwise in compliance with the contractual terms of the loan agreement. The Company’s portfolio of FDIC-covered loans was considered to be Pass rated loans at June 30, 2012, and December 31, 2011, as the loans were recorded at estimated fair value on the acquisition date and have FDIC loss-share agreements to cover at least 80% of any future losses.

Special Mention - Loans designated as special mention have potential weaknesses that deserve management’s close attention.  If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of our credit position at some future date. Management believes that there is a moderate likelihood of some loss related to loans designated as Special Mention.

Substandard -  Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any.  Loans so classified have one or more well-defined weaknesses that jeopardize the liquidation of the debt.  There is a distinct possibility that the Company will sustain some loss if the deficiencies on these loans are not corrected.

Doubtful -  Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values highly questionable and improbable.

Loss – Loans classified as loss are considered to be completely uncollectable and as a result the loans have been completely written-off the books of the Company.   

As of June 30, 2012 and December 31, 2011, the credit quality indicators of loans were as follows:

	Pass		Special Mention		Substandard		Total
	(Dollars in thousands)
June 30, 2012
Real estate:
One-to-four family residential	$	138,184	$	483	$	4,680	$	143,347
Multifamily residential		18,901		1,055		-		19,956
Construction		27,147		-		-		27,147
Commercial land		25,296		720		5,651		31,667
Residential development		11,904		-		4,190		16,094
Owner occupied CRE		126,414		4,988		2,905		134,307
Other commercial real estate		153,500		15,846		9,838		179,184
Consumer land		15,479		200		516		16,195
Home equity lines of credit		89,853		1,294		1,277		92,424
Total real estate		606,678		24,586		29,057		660,321
Commercial business		47,138		244		1,048		48,430
Other consumer		7,416		168		37		7,621
Total loans	$	661,232	$	24,998	$	30,142	$	716,372
December 31, 2011
Real estate:
One-to-four family residential	$	149,013	$	562	$	1,925	$	151,500
Multifamily residential		19,685		-		-		19,685
Construction		20,857		-		-		20,857
Commercial land		30,202		8,600		2,990		41,792
Residential development		15,806		1,037		7,696		24,539
Other commercial real estate		269,970		19,925		12,400		302,295
Consumer land		17,356		458		1,560		19,374
Home equity lines of credit		92,752		790		1,753		95,295
Total real estate		615,641		31,372		28,324		675,337
Commercial business		48,477		254		296		49,027
Other consumer		9,147		170		107		9,424
Total loans	$	673,265	$	31,796	$	28,727	$	733,788

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Note 9 - FDIC Loss Share Receivable

6 Months Ended

Jun. 30, 2012

FDIC Loss Share Receivable [Text Block]

Note 9 – FDIC Loss Share Receivable

The following table details changes in the FDIC loss share receivable for the three and six month periods ended June 30, 2012 and June 30, 2011.

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
	(Dollars in thousands)
Balance at beginning of period	$	30,448		$	25,611		$	38,931		$	24,848
Additional FDIC loss share receivable from acquisitions		-			19,922			-			19,922
Increase in expected losses on indemnified assets and other changes		5,959			435			6,925			1,749
Claimable net losses on OREO covered under loss share agreements		774			476			1,563			660
Reimbursable expenses claimed		483			242			1,020			367
Accretion of discounts and premiums, net		31			(287	)		(886	)		(1,004	)
Receipt of payments from FDIC		(8,832	)		(2,975	)		(18,690	)		(3,118	)
Balance at end of period	$	28,863		$	43,424		$	28,863		$	43,424

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Note 4 - Earnings per Common Share (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	659,794	745,602	659,794	745,602
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount				450,314

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Note 9 - FDIC Loss Share Receivable (Detail) - Changes in the Loss Share Receivable From the FDIC (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Balance at beginning of period	$ 30,448	$ 25,611	$ 38,931	$ 24,848
Balance at end of period	28,863	43,424	28,863	43,424
Additional FDIC loss share receivable from acquisitions		19,922		19,922
Increase in expected losses on indemnified assets and other changes	5,959	435	6,925	1,749
Claimable net losses on OREO covered under loss share agreements	774	476	1,563	660
Reimbursable expenses claimed	483	242	1,020	367
Accretion of discounts and premiums, net	31	(287)	(886)	(1,004)
Receipt of payments from FDIC	$ (8,832)	$ (2,975)	$ (18,690)	$ (3,118)

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Note 14 - Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2012

Fair Value Disclosures [Text Block]

Note 14 - Fair Value of Financial Instruments

Fair values of financial instruments have been estimated by the Company using the provisions of ASC Topic 825, Financial Instruments “ASC 825”, which requires disclosure of fair value information about financial instruments, whether or not recognized in the balance sheet, for which it is practicable to estimate that value. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques.  Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instruments.  ASC 825 excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company.  The following methods and assumptions were used to estimate the fair value of financial instruments:

Cash and due from banks - The carrying amounts reported in the balance sheets for cash and noninterest-bearing deposits approximate the fair value of those assets.

Interest bearing deposits - The carrying amounts reported in the balance sheets for interest bearing deposits approximate the fair value of those assets.

Investment securities - Fair values for investment securities are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on readily available pricing sources for market transactions involving comparable types of investments in active markets.

Federal Home Loan Bank stock - The fair values for FHLB stock are its carrying value since this is the amount for which it could be redeemed. There is no active market for this stock and the Company, in order to be a member of the FHLB, is required to maintain a minimum investment in the FHLB.

Presold loans in process of settlement – The fair values of presold loans in process of settlement are its carrying value since these loans have a firm commitment to be purchased by an independent third party.

Loans, net - The fair values for fixed rate loans are estimated using discounted cash flow analyses using interest rates currently being offered for loans with similar terms and credit ratings for the same remaining maturities. The fair values of variable rate loans that reprice frequently are based on its carrying value.  The resulting fair values for fixed and variable rate loans are adjusted for the allowance for loan losses.

FDIC loss share receivable - The fair values for the FDIC indemnification asset are estimated based on discounted future cash flows using current discount rates.

Accrued interest receivable and Accrued interest payable - The carrying values of accrued interest receivable and accrued interest payable are assumed to approximate fair value.

Bank-owned life insurance - The carrying value of life insurance approximates fair value because this investment is carried at cash surrender value, as determined by the insurer.

Demand deposits, money market accounts and savings accounts - The fair values of demand deposits, money market accounts and savings accounts are equal to the amount payable on demand at the reporting date.

Time deposits – The fair values for time deposits are estimated using a discounted cash flow calculation that applies interest rates currently being offered on these accounts to a schedule of aggregated expected monthly maturities on time deposits.

Securities sold under repurchase agreements - The fair values of securities sold under repurchase agreements are equal to the carrying value due to the short-term nature of these instruments.

Borrowed Money - The fair values for borrowed money are estimated based on discounted future cash flows using current discount rates for similar borrowings.

Subordinated debt - The fair value for subordinated debt is estimated based on a broker indication of fair value at the respective dates.

At June 30, 2012 and December 31, 2011, the Company had outstanding unfunded commitments to extend credit offered in the normal course of business.  Fair values of these commitments are based on fees currently charged for similar instruments.  At June 30, 2012 and December 31, 2011, the carrying amounts and fair values of these off-balance sheet financial instruments were considered immaterial.

The carrying amounts and estimated fair valuesof financial instruments at the respective dates were as follows:

	June 30, 2012				December 31, 2011
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
	(Dollars in thousands)
Financial assets
Cash and due from banks	$	11,839	$	11,839	$	13,296	$	13,296
Interest bearing deposits		116,985		116,985		75,048		75,048
Investment securities		100,634		103,205		147,899		150,251
Federal Home Loan Bank stock		4,443		4,443		5,067		5,067
Presold loans in process of settlement		2,146		2,146		2,146		2,146
Loans, net		704,637		714,077		722,075		735,685
FDIC loss share receivable		28,863		28,863		38,931		38,931
Accrued interest receivable		1,840		1,840		2,773		2,773
Bank-owned life insurance		18,723		18,723		18,978		18,978
Financial liabilities
Demand deposits	$	295,379	$	295,379	$	287,466	$	287,466
Money market accounts		153,775		153,775		155,229		155,229
Savings accounts		23,945		23,945		20,542		20,542
Time deposits		379,665		381,475		412,819		415,145
Securities sold under repurchase agreements		7,554		7,554		9,787		9,787
Borrowed money		76,706		85,089		78,688		87,697
Subordinated debt		15,464		7,732		15,464		7,732
Accrued interest payable		695		695		981		981

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Note 7 - Credit Quality of Loans (Tables)

6 Months Ended

Jun. 30, 2012

Past Due Financing Receivables [Table Text Block]

June 30, 2012	30 - 59 Days Past Due		60 - 89 Days Past Due		90 Days or More Past Due and Accruing		Nonaccrual		Total Past Due		Current		Total Loans		Recorded Investment 90 Days or More and Accruing
	(Dollars in thousands)
Not covered by FDIC loss-share agreements
Real estate:
One-to-four family residential	$	489	$	88	$	-	$	4,230	$	4,807	$	109,514	$	114,321	$	-
Multifamily residential		-		-		-		-		-		17,074		17,074		-
Construction		-		-		-		-		-		27,114		27,114		-
Commercial land		-		-		151		3,018		3,169		19,716		22,885		154
Residential development		-		-		-		3,000		3,000		7,068		10,068		-
Other commercial real estate		235		682		-		8,489		9,406		238,869		248,275		-
Consumer real estate		255		-		-		961		1,216		97,946		99,162		-
Total real estate		979		770		151		19,698		21,598		517,301		538,899		154
Commercial business		24		-		-		945		969		42,666		43,635		-
Other consumer		32		7		-		15		54		4,910		4,964		-
Total	$	1,035	$	777	$	151	$	20,658	$	22,621	$	564,877	$	587,498	$	154
Covered by FDIC loss-share agreements
Real estate:
One-to-four family residential	$	759	$	135	$	61	$	7,566	$	8,521	$	20,505	$	29,026	$	63
Multifamily residential		-		-		-		380		380		2,502		2,882		-
Construction		-		-		-		-		-		33		33		-
Commercial land		-		106		-		3,944		4,050		4,732		8,782		-
Residential development		-		-		-		3,759		3,759		2,267		6,026		-
Other commercial real estate		29		206		-		17,785		18,020		47,196		65,216		-
Consumer real estate		229		-		-		967		1,196		8,261		9,457		-
Total real estate		1,017		447		61		34,401		35,926		85,496		121,422		63
Commercial business		8		-		163		1,422		1,593		3,202		4,795		169
Other consumer		23		-		-		413		436		2,221		2,657		-
Total	$	1,048	$	447	$	224	$	36,236	$	37,955	$	90,919	$	128,874	$	232
Total at June 30, 2012
Real estate:
One-to-four family residential	$	1,248	$	223	$	61	$	11,796	$	13,328	$	130,019	$	143,347	$	63
Multifamily residential		-		-		-		380		380		19,576		19,956		-
Construction		-		-		-		-		-		27,147		27,147		-
Commercial land		-		106		151		6,962		7,219		24,448		31,667		154
Residential development		-		-		-		6,759		6,759		9,335		16,094		-
Other commercial real estate		264		888		-		26,274		27,426		286,065		313,491		-
Consumer real estate		484		-		-		1,928		2,412		106,207		108,619		-
Total real estate		1,996		1,217		212		54,099		57,524		602,797		660,321		217
Commercial business		32		-		163		2,367		2,562		45,868		48,430		169
Other consumer		55		7		-		428		490		7,131		7,621		-
Total	$	2,083	$	1,224	$	375	$	56,894	$	60,576	$	655,796	$	716,372	$	386

December 31, 2011	30 - 59 Days Past Due		60 - 89 Days Past Due		90 Days or More Past Due and Accruing		Nonaccrual		Total Past Due		Current		Total Loans		Recorded Investment 90 Days or More and Accruing
	(Dollars in thousands)
Not covered by FDIC loss-share agreements
Real estate:
One-to-four family residential	$	80	$	1,634	$	-	$	2,407	$	4,121	$	112,738	$	116,859	$	-
Multifamily residential		-		-		-		-		-		16,759		16,759		-
Construction		-		93		-		-		93		19,509		19,602		-
Commercial land		-		-		-		2,631		2,631		25,491		28,122		-
Residential development		-		-		-		6,474		6,474		9,970		16,444		-
Other commercial real estate		81		1,873		-		4,173		6,127		219,856		225,983		-
Consumer real estate		761		388		335		2,543		4,027		99,494		103,521		338
Total real estate		922		3,988		335		18,228		23,473		503,817		527,290		338
Commercial business		7		-		-		168		175		40,986		41,161		-
Other consumer		13		3		-		80		96		5,553		5,649		-
Total	$	942	$	3,991	$	335	$	18,476	$	23,744	$	550,356	$	574,100	$	338
Covered by FDIC loss-share agreements
Real estate:
One-to-four family residential	$	1,530	$	2,220	$	215	$	8,441	$	12,406	$	22,235	$	34,641	$	219
Multifamily residential		-		-		-		216		216		2,710		2,926		-
Construction		-		-		-		1,191		1,191		64		1,255		-
Commercial land		140		11		10		6,704		6,865		6,805		13,670		11
Residential development		-		-		-		4,578		4,578		3,517		8,095		-
Other commercial real estate		351		466		495		17,454		18,766		57,546		76,312		511
Consumer real estate		236		15		-		634		885		10,263		11,148		-
Total real estate		2,257		2,712		720		39,218		44,907		103,140		148,047		741
Commercial business		90		39		23		3,484		3,636		4,230		7,866		24
Other consumer		141		133		57		554		885		2,890		3,775		58
Total	$	2,488	$	2,884	$	800	$	43,256	$	49,428	$	110,260	$	159,688	$	823
Total at December 31, 2011
Real estate:
One-to-four family residential	$	1,610	$	3,854	$	215	$	10,848	$	16,527	$	134,973	$	151,500	$	219
Multifamily residential		-		-		-		216		216		19,469		19,685		-
Construction		-		93		-		1,191		1,284		19,573		20,857		-
Commercial land		140		11		10		9,335		9,496		32,296		41,792		11
Residential development		-		-		-		11,052		11,052		13,487		24,539		-
Other commercial real estate		432		2,339		495		21,627		24,893		277,402		302,295		511
Consumer real estate		997		403		335		3,177		4,912		109,757		114,669		338
Total real estate		3,179		6,700		1,055		57,446		68,380		606,957		675,337		1,079
Commercial business		97		39		23		3,652		3,811		45,216		49,027		24
Other consumer		154		136		57		634		981		8,443		9,424		58
Total	$	3,430	$	6,875	$	1,135	$	61,732	$	73,172	$	660,616	$	733,788	$	1,161

Troubled Debt Restructurings on Financing Receivables [Table Text Block]

	Accrual Status		Non-accrual Status		Total Contracts		Total TDRs
	(Dollars in thousands)
June 30, 2012
One-to-four family residential	$	220	$	-	$	2	$	220
Commercial land		875		678		3		1,553
Residential development		-		141		1		141
Other commercial real estate		4,450		4,936		23		9,386
Commercial business		-		885		1		885
Total	$	5,545	$	6,640	$	30	$	12,185
December 31, 2011
One-to-four family residential	$	12	$	-		1	$	12
Commercial land		195		89		2		284
Residential development		633		-		2		633
Other commercial real estate		6,955		1,159		24		8,114
Total	$	7,795	$	1,248	$	29	$	9,043

Schedule of Troubled Debt Restructurings [Table Text Block]

	Six Months Ended June 30, 2012						Six Months Ended June 30, 2011
	Total Number of Contracts		Pre-modification Outstanding Recorded Investment		Post-modification Outstanding Recorded Investment		Total Number of Contracts		Pre-modification Outstanding Recorded Investment		Post-modification Outstanding Recorded Investment
	(Dollars in thousands)
Interest only modification:
Commercial real estate		1		590		590		3		1,050		1,050
Subtotal		1	$	590	$	590		3	$	1,050	$	1,050
Term modification:
Residential real estate		1	$	208	$	208		-	$	-	$	-
Commercial business		-		-		-		3		598		598
Subtotal		1	$	208	$	208		3	$	598	$	598
Debt reduction reduction:
Commercial land		3	$	4,576	$	3,285		-	$	-	$	-
Subtotal		3	$	4,576	$	3,285		-	$	-	$	-
Total		5	$	5,374	$	4,083		6	$	1,648	$	1,648

Impaired Financing Receivables [Table Text Block]

	June 30, 2012								December 31, 2011
	Recorded Investment		Unpaid Principal Balance		Net Principal Balance		Related Allowance		Recorded Investment		Unpaid Principal Balance		Net Principal Balance		Related Allowance
	(Dollars in thousands)
June 30, 2012
One-to-four family residential	$	4,696	$	5,143	$	4,488	$	-	$	2,781	$	2,739	$	2,739	$	-
Commercial land		3,355		4,343		3,194		-		3,062		4,523		2,826		-
Residential development		3,679		5,427		3,472		-		8,428		10,173		8,262		-
Commercial real estate - office		7,449		8,584		7,375		-		6,322		7,573		6,305		-
Commercial real estate - residential rental		2,288		2,933		2,244		-		4,076		4,808		4,029		-
Commercial real estate - owner-occupied		2,721		3,301		2,614		-		-		-		-		-
Commercial real estate - other		2,188		2,585		2,168		-		2,426		2,945		2,323		-
Consumer real estate		1,158		1,968		1,047		-		2,689		2,801		2,630		-
Commercial business		948		945		945		-		169		169		169		-
Other consumer		18		18		18		-		89		90		89		-
Total impaired loans	$	28,500	$	35,247	$	27,565	$	-	$	30,042	$	35,821	$	29,372	$	-

Financing Receivable Credit Quality Indicators [Table Text Block]

	Pass		Special Mention		Substandard		Total
	(Dollars in thousands)
June 30, 2012
Real estate:
One-to-four family residential	$	138,184	$	483	$	4,680	$	143,347
Multifamily residential		18,901		1,055		-		19,956
Construction		27,147		-		-		27,147
Commercial land		25,296		720		5,651		31,667
Residential development		11,904		-		4,190		16,094
Owner occupied CRE		126,414		4,988		2,905		134,307
Other commercial real estate		153,500		15,846		9,838		179,184
Consumer land		15,479		200		516		16,195
Home equity lines of credit		89,853		1,294		1,277		92,424
Total real estate		606,678		24,586		29,057		660,321
Commercial business		47,138		244		1,048		48,430
Other consumer		7,416		168		37		7,621
Total loans	$	661,232	$	24,998	$	30,142	$	716,372
December 31, 2011
Real estate:
One-to-four family residential	$	149,013	$	562	$	1,925	$	151,500
Multifamily residential		19,685		-		-		19,685
Construction		20,857		-		-		20,857
Commercial land		30,202		8,600		2,990		41,792
Residential development		15,806		1,037		7,696		24,539
Other commercial real estate		269,970		19,925		12,400		302,295
Consumer land		17,356		458		1,560		19,374
Home equity lines of credit		92,752		790		1,753		95,295
Total real estate		615,641		31,372		28,324		675,337
Commercial business		48,477		254		296		49,027
Other consumer		9,147		170		107		9,424
Total loans	$	673,265	$	31,796	$	28,727	$	733,788

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Note 8 - Allowance for Loan Losses (Detail) - A Reconciliation of the Allowance for Loan Losses (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended		3 Months Ended	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012 One-to-Four Family Residential [Member]	Jun. 30, 2011 One-to-Four Family Residential [Member]	Jun. 30, 2012 One-to-Four Family Residential [Member]	Jun. 30, 2011 One-to-Four Family Residential [Member]	Jun. 30, 2012 Construction Loans [Member]	Jun. 30, 2011 Construction Loans [Member]	Jun. 30, 2012 Construction Loans [Member]	Jun. 30, 2011 Construction Loans [Member]	Jun. 30, 2012 Commercial Land Loans [Member]	Jun. 30, 2011 Commercial Land Loans [Member]	Jun. 30, 2012 Commercial Land Loans [Member]	Jun. 30, 2011 Commercial Land Loans [Member]	Jun. 30, 2012 Residential Development [Member]	Jun. 30, 2011 Residential Development [Member]	Jun. 30, 2012 Residential Development [Member]	Jun. 30, 2011 Residential Development [Member]	Jun. 30, 2012 Other Commercial Real Estate Loans [Member]	Jun. 30, 2011 Other Commercial Real Estate Loans [Member]	Jun. 30, 2012 Other Commercial Real Estate Loans [Member]	Jun. 30, 2011 Other Commercial Real Estate Loans [Member]	Jun. 30, 2012 Consumer Real Estate Loans [Member]	Jun. 30, 2011 Consumer Real Estate Loans [Member]	Jun. 30, 2012 Consumer Real Estate Loans [Member]	Jun. 30, 2011 Consumer Real Estate Loans [Member]	Jun. 30, 2012 Commercial Business Loans [Member]	Jun. 30, 2011 Commercial Business Loans [Member]	Jun. 30, 2012 Commercial Business Loans [Member]	Jun. 30, 2011 Commercial Business Loans [Member]	Jun. 30, 2012 Other Consumer Loans [Member]	Jun. 30, 2011 Other Consumer Loans [Member]	Jun. 30, 2012 Other Consumer Loans [Member]	Jun. 30, 2011 Other Consumer Loans [Member]	Jun. 30, 2012 Multifamily Residential Loans [Member]	Jun. 30, 2012 Multifamily Residential Loans [Member]	Jun. 30, 2011 Multifamily Residential Loans [Member]	Mar. 31, 2011 Multifamily Residential Loans [Member]	Dec. 31, 2010 Multifamily Residential Loans [Member]
Balance - Beginning of period	$ 11,583	$ 12,006	$ 11,713	$ 11,924	$ 534	$ 528	$ 500	$ 500	$ 650	$ 1,014	$ 800	$ 1,000	$ 2,344	$ 2,014	$ 2,334	$ 2,163	$ 2,064	$ 1,996	$ 1,999	$ 2,000	$ 1,927	$ 1,645	$ 1,830	$ 1,561	$ 1,372	$ 1,551	$ 1,600	$ 1,500	$ 2,002	$ 2,500	$ 2,000	$ 2,500	$ 540	$ 558	$ 500	$ 500	$ 150	$ 150	$ 200	$ 200	$ 200
Charge-offs:
Charge-offs	(2,893)	(1,325)	(9,496)	(4,361)	(518)	(312)	(1,417)	(1,137)		(5)		(41)	(101)	(291)	(191)	(2,244)	(313)	(386)	(2,805)	(386)	(938)	(256)	(2,319)	(256)	(774)	(35)	(2,504)	(91)	(227)	(35)	(227)	(188)	(22)	(5)	(33)	(18)
Recoveries:
Recoveries	490	361	663	479	35	4	68	7	2	181		231	119	0	119		32	128	89	128	235	30	314	14	59	2	61	9	1	10	3	13	3	6	5	77	4	4
Provision for loan losses	2,555	1,700	8,855	4,700	450	300	1,350	1,150			(150)			500	100	1,250	150	300	2,650	1,350	500	500	1,900	600	650	50	2,150	150	250	50	250	200	50		100
Balance - End of period	$ 11,735	$ 12,742	$ 11,735	$ 12,742	$ 544	$ 520	$ 544	$ 520	$ 652	$ 1,190	$ 652	$ 1,190	$ 2,463	$ 2,223	$ 2,463	$ 2,223	$ 2,014	$ 2,038	$ 2,014	$ 2,038	$ 1,974	$ 1,919	$ 1,974	$ 1,919	$ 1,320	$ 1,568	$ 1,320	$ 1,568	$ 2,036	$ 2,525	$ 2,036	$ 2,525	$ 582	$ 559	$ 582	$ 559	$ 150	$ 150	$ 200	$ 200	$ 200

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Note 6 - Loans (Detail) - Loans Outstanding (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2010
Real estate:
Loans covered by FDIC loss share agreements	$ 128,874		$ 159,688
Loans not covered by FDIC loss share agreements	587,498		574,100	574,100
Loans, net of deferred fees and costs	716,372		733,788
Less: Allowance for loan losses	11,735	11,583	11,713	12,742	12,006	11,924
Total loans, net	704,637		722,075
One-to-Four Family Residential [Member]
Real estate:
Loans covered by FDIC loss share agreements	29,026		34,641
Loans not covered by FDIC loss share agreements	114,321		116,859	116,859
Loans, net of deferred fees and costs	143,347		151,500
Less: Allowance for loan losses	544	534	500	520	528	500
Multifamily Residential Loans [Member]
Real estate:
Loans covered by FDIC loss share agreements	2,882		2,926
Loans not covered by FDIC loss share agreements	17,074		16,759	16,759
Loans, net of deferred fees and costs	19,956		19,685
Less: Allowance for loan losses	150	150	150	200	200	200
Construction Loans [Member]
Real estate:
Loans covered by FDIC loss share agreements	33		1,255
Loans not covered by FDIC loss share agreements	27,114		19,602	19,602
Loans, net of deferred fees and costs	27,147		20,857
Less: Allowance for loan losses	652	650	800	1,190	1,014	1,000
Commercial Land Loans [Member]
Real estate:
Loans covered by FDIC loss share agreements	8,782		13,670
Loans not covered by FDIC loss share agreements	22,885		28,122	28,122
Loans, net of deferred fees and costs	31,667		41,792
Less: Allowance for loan losses	2,463	2,344	2,334	2,223	2,014	2,163
Residential Development [Member]
Real estate:
Loans covered by FDIC loss share agreements	6,026		8,095
Loans not covered by FDIC loss share agreements	10,068		16,444	16,444
Loans, net of deferred fees and costs	16,094		24,539
Less: Allowance for loan losses	2,014	2,064	1,999	2,038	1,996	2,000
Owner Occupied Commercial Real Estate [Member]
Real estate:
Loans covered by FDIC loss share agreements	17,872		20,027
Loans not covered by FDIC loss share agreements	116,435		95,990
Loans, net of deferred fees and costs	134,307		116,017
Non-owner Occupied Commercial Real Estate [Member]
Real estate:
Loans covered by FDIC loss share agreements	47,344		56,285
Loans not covered by FDIC loss share agreements	131,840		129,993
Loans, net of deferred fees and costs	179,184		186,278
Consumer Real Estate Loans [Member]
Real estate:
Loans covered by FDIC loss share agreements	9,457		11,148
Loans not covered by FDIC loss share agreements	99,162		103,521	103,521
Loans, net of deferred fees and costs	108,619		114,669
Less: Allowance for loan losses	1,320	1,372	1,600	1,568	1,551	1,500
Total Real Estate Loans [Member]
Real estate:
Loans covered by FDIC loss share agreements	121,422		148,047
Loans not covered by FDIC loss share agreements	538,899		527,290
Loans, net of deferred fees and costs	660,321		675,337
Commercial Business Loans [Member]
Real estate:
Loans covered by FDIC loss share agreements	4,795		7,866
Loans not covered by FDIC loss share agreements	43,635		41,161	41,161
Loans, net of deferred fees and costs	48,430		49,027
Less: Allowance for loan losses	2,036	2,002	2,000	2,525	2,500	2,500
Other Consumer Loans [Member]
Real estate:
Loans covered by FDIC loss share agreements	2,657		3,775
Loans not covered by FDIC loss share agreements	4,964		5,649	5,649
Loans, net of deferred fees and costs	7,621		9,424
Less: Allowance for loan losses	$ 582	$ 540	$ 500	$ 559	$ 558	$ 500

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Condensed Consolidated Statements of Comprehensive Income (unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Net income (loss)	$ (648)	$ 2,296	$ (2,788)	$ 1,405
Investment securities, available for sale:
Unrealized holding gains arising during period	41	827	175	876
Tax expense	(16)	(319)	(67)	(338)
Reclassification for realized gains included in net income		(1)	(664)	(1)
Tax benefit			256
Other comprehensive income (loss)	25	507	(300)	537
Total comprehensive income (loss)	$ (623)	$ 2,803	$ (3,088)	$ 1,942

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Note 3 - Recent Accounting Pronouncements

6 Months Ended

Jun. 30, 2012

New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

Note 3 - Recent Accounting Pronouncements

A summary of the accounting policies followed by the Company may be found in Note 1 – Organization and Summary of Significant Accounting Policies in the 2011 Annual Report on Form 10-K filed with the SEC.  Updates to the significant accounting policies are reported in the Company’s quarterly reports filed with the SEC on Form 10-Q as new or revised accounting pronouncements are made. The following paragraphs update that information for the second quarter of 2012.

In December 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2011-11 “Balance Sheet (Topic 210) - Disclosures about Offsetting Assets and Liabilities.” ASU 2011-11 requires an entity to disclose both gross information and net information about both instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting arrangement. ASU 2011-11 is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. Retrospective disclosure is required for all comparative periods presented. The Company does not expect an impact on its financial condition or results of operations.

Several other new accounting standards became effective during the periods presented or will be effective subsequent to June 30, 2012. None of these new standards had or is expected to have a material impact on the Company’s consolidated financial statements.

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Note 13 - Fair Value Measurements (Detail) - Assets Measured at Fair Value on a Non-Recurring Basis (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Investment Securities Held to Maturity:
Held to maturity securities	$ 84,847	$ 98,115
Presold loans in process of settlement	2,146	2,146
Impaired loans	27,565	29,372
Other real estate owned	21,405	17,571
Total	135,963	147,204
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Investment Securities Held to Maturity:
Held to maturity securities	10,019	10,033
US Treasury Securities [Member]
Investment Securities Held to Maturity:
Held to maturity securities	10,019	10,033
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Investment Securities Held to Maturity:
Held to maturity securities	14,055	26,059
US Government Agencies Debt Securities [Member]
Investment Securities Held to Maturity:
Held to maturity securities	14,055	26,059
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Investment Securities Held to Maturity:
Held to maturity securities	3,363	3,399
US States and Political Subdivisions Debt Securities [Member]
Investment Securities Held to Maturity:
Held to maturity securities	3,363	3,399
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 2 [Member]
Investment Securities Held to Maturity:
Held to maturity securities	48,491	54,779
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
Investment Securities Held to Maturity:
Held to maturity securities	48,491	54,779
SBA Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Investment Securities Held to Maturity:
Held to maturity securities	5,105
SBA Securities [Member]
Investment Securities Held to Maturity:
Held to maturity securities	5,105
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Investment Securities Held to Maturity:
Held to maturity securities	3,814	3,845
Corporate Debt Securities [Member]
Investment Securities Held to Maturity:
Held to maturity securities	3,814	3,845
Fair Value, Inputs, Level 1 [Member]
Investment Securities Held to Maturity:
Total	10,019	10,033
Fair Value, Inputs, Level 2 [Member]
Investment Securities Held to Maturity:
Presold loans in process of settlement	2,146	2,146
Total	76,974	90,228
Fair Value, Inputs, Level 3 [Member]
Investment Securities Held to Maturity:
Impaired loans	27,565	29,372
Other real estate owned	21,405	17,571
Total	$ 48,970	$ 46,943

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Note 8 - Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2012

Allowance for Credit Losses on Financing Receivables [Table Text Block]

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
	(Dollars in thousands)
Balance - Beginning of period	$	11,583		$	12,006		$	11,713		$	11,924
Charge-offs:
One-to-four family residential		(518	)		(312	)		(1,417	)		(1,137	)
Construction		-			(5	)		-			(41	)
Commercial land		(101	)		(291	)		(191	)		(2,244	)
Residential development		(313	)		(386	)		(2,805	)		(386	)
Other commercial real estate		(938	)		(256	)		(2,319	)		(256	)
Consumer real estate		(774	)		(35	)		(2,504	)		(91	)
Commercial business		(227	)		(35	)		(227	)		(188	)
Other consumer		(22	)		(5	)		(33	)		(18	)
Total charge-offs		(2,893	)		(1,325	)		(9,496	)		(4,361	)
Recoveries:
One-to-four family residential		35			4			68			7
Multifamily residential		4			-			4			-
Construction		2			181			-			231
Commercial land		119			-			119			-
Residential development		32			128			89			128
Other commercial real estate		235			30			314			14
Consumer real estate		59			2			61			9
Commercial business		1			10			3			13
Other consumer		3			6			5			77
Total recoveries		490			361			663			479
Provision for loan losses		2,555			1,700			8,855			4,700
Balance - End of period	$	11,735		$	12,742		$	11,735		$	12,742

Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent [Table Text Block]

	One-to-four family residential			Multifamily residential		Construction			Commercial land			Residential development			Other commercial real estate			Consumer real estate			Commercial business			Other consumer			Total
	(Dollars in thousands)
June 30, 2012
Allowance for loan losses
Balance - April 1, 2012	$	534		$	150	$	650		$	2,344		$	2,064		$	1,927		$	1,372		$	2,002		$	540		$	11,583
Charge-offs		(475	)		-		-			-			(232	)		(688	)		(759	)		(217	)		(11	)		(2,382	)
Recoveries		35			-		2			119			32			235			57			1			3			484
Provision		450			-		-			-			150			500			650			250			50			2,050
Balance - June 30, 2012	$	544		$	150	$	652		$	2,463		$	2,014		$	1,974		$	1,320		$	2,036		$	582		$	11,735
Loans individually evaluated for impairment	$	-		$	-	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Loans collectively evaluated for impairment	$	544		$	150	$	652		$	2,463		$	2,014		$	1,974		$	1,320		$	2,036		$	582		$	11,735
Loans
Loans individually evaluated for impairment	$	4,488		$	-	$	-		$	3,194		$	3,472		$	14,401		$	1,047		$	945		$	18		$	27,565
Loans collectively evaluated for impairment		109,833			17,074		27,114			19,691			6,596			233,874			98,115			42,690			4,946			559,933
Total non-covered loans	$	114,321		$	17,074	$	27,114		$	22,885		$	10,068		$	248,275		$	99,162		$	43,635		$	4,964		$	587,498
June 30, 2011
Allowance for loan losses
Balance - April 1, 2011	$	528		$	200	$	1,014		$	2,014		$	1,996		$	1,645		$	1,551		$	2,500		$	558		$	12,006
Charge-offs		(312	)		-		(5	)		(291	)		(386	)		(256	)		(35	)		(35	)		(5	)		(1,325	)
Recoveries		4			-		181			-			128			30			2			10			6			361
Provision		300			-		-			500			300			500			50			50			-			1,700
Balance - June 30, 2011	$	520		$	200	$	1,190		$	2,223		$	2,038		$	1,919		$	1,568		$	2,525		$	559		$	12,742
Loans individually evaluated for impairment	$	-		$	-	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Loans collectively evaluated for impairment		520			200		1,190			2,223			2,038			1,919			1,568			2,525			559			12,742
Total	$	520		$	200	$	1,190		$	2,223		$	2,038		$	1,919		$	1,568		$	2,525		$	559		$	12,742
December 31, 2011
Loans
Loans individually evaluated for impairment	$	2,739		$	-	$	-		$	2,826		$	8,262		$	12,657		$	2,630		$	169		$	89		$	29,372
Loans collectively evaluated for impairment		114,120			16,759		19,602			25,296			8,182			213,326			100,891			40,992			5,560			544,728
Total non-covered loans	$	116,859		$	16,759	$	19,602		$	28,122		$	16,444		$	225,983		$	103,521		$	41,161		$	5,649		$	574,100

	One-to-four family residential			Multifamily residential		Construction			Commercial land			Residential development			Other commercial real estate			Consumer real estate			Commercial business			Other consumer			Total
	(Dollars in thousands)
June 30, 2012
Allowance for loan losses
Balance - January 1, 2012	$	500		$	150	$	800		$	2,334		$	1,999		$	1,830		$	1,600		$	2,000		$	500		$	11,713
Charge-offs		(1,374	)		-		-			(90	)		(2,724	)		(2,069	)		(2,489	)		(217	)		(22	)		(8,985	)
Recoveries		68			-		-			119			89			314			59			3			5			657
Provision		1,350			-		(150	)		100			2,650			1,900			2,150			250			100			8,350
Balance - June 30, 2012	$	544		$	150	$	650		$	2,463		$	2,014		$	1,975		$	1,320		$	2,036		$	583		$	11,735
Loans individually evaluated for impairment	$	-		$	-	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Loans collectively evaluated for impairment	$	544		$	150	$	650		$	2,463		$	2,014		$	1,975		$	1,320		$	2,036		$	583		$	11,735
Loans
Loans individually evaluated for impairment	$	4,488		$	-	$	-		$	3,194		$	3,472		$	14,401		$	1,047		$	945		$	18		$	27,565
Loans collectively evaluated for impairment		109,833			17,074		27,114			19,691			6,596			233,874			98,115			42,690			4,946			559,933
Total non-covered loans	$	114,321		$	17,074	$	27,114		$	22,885		$	10,068		$	248,275		$	99,162		$	43,635		$	4,964		$	587,498
June 30, 2011
Allowance for loan losses
Balance - January 1, 2011	$	500		$	200	$	1,000		$	2,163		$	2,000		$	1,561		$	1,500		$	2,500		$	500		$	11,924
Charge-offs		(1,137	)		-		(41	)		(2,244	)		(386	)		(256	)		(91	)		(188	)		(18	)		(4,361	)
Recoveries		7			-		231			-			128			14			9			13			77			479
Provision		1,150			-		-			1,250			1,350			600			150			200			-			4,700
Balance - June 30, 2011	$	520		$	200	$	1,190		$	1,169		$	3,092		$	1,919		$	1,568		$	2,525		$	559		$	12,742
Loans individually evaluated for impairment	$	-		$	-	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Loans collectively evaluated for impairment		520			200		1,190			1,169			3,092			1,919			1,568			2,525			559			12,742
Total	$	520		$	200	$	1,190		$	1,169		$	3,092		$	1,919		$	1,568		$	2,525		$	559		$	12,742
December 31, 2011
Loans
Loans individually evaluated for impairment	$	2,739		$	-	$	-		$	2,826		$	8,262		$	12,657		$	2,630		$	169		$	89		$	29,372
Loans collectively evaluated for impairment		114,120			16,759		19,602			25,296			8,182			213,326			100,891			40,992			5,560			544,728
Total non-covered loans	$	116,859		$	16,759	$	19,602		$	28,122		$	16,444		$	225,983		$	103,521		$	41,161		$	5,649		$	574,100

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Note 5 - Investment Securities (Detail) - Investments by contractual maturity date (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Available for Sale:
Due in one year or less	$ 3,181
Due in one year or less	3,188
Due after one year through five years	4,365
Due after one year through five years	4,384
Due after five years through ten years	3,333
Due after five years through ten years	3,363
Due after ten years	5,804
Due after ten years	5,856
Equities	1,687
Equities	1,567
Total	18,370	51,659
Total	18,358	52,136
Held to Maturity:
Due in one year or less	14,865
Due in one year or less	15,170
Due after one year through five years	29,996
Due after one year through five years	30,607
Due after five years through ten years	25,350
Due after five years through ten years	25,733
Due after ten years	12,065
Due after ten years	13,337
Total	82,276	95,763
Total	$ 84,847	$ 98,115

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Note 13 - Fair Value Measurements

6 Months Ended

Jun. 30, 2012

Fair Value, Measurement Inputs, Disclosure [Text Block]

Note 13 – Fair Value Measurements

The Company records certain assets at fair value. The Company has not elected the fair value option for liabilities.  Fair value is defined as the price that would be received to sell an asset in an orderly transaction between market participants at the measurement date.  Fair value measurements are also utilized to determine the initial value of certain assets, to perform impairment assessments, and for disclosure purposes.  The Company uses quoted market prices and observable inputs to the maximum extent possible when measuring fair value.  In the absence of quoted market prices, various valuation techniques are utilized to measure fair value.  When possible, observable market data for identical or similar financial instruments are used in the valuation.  When market data is not available, fair value is determined using valuation models that incorporate management’s estimates of the assumptions a market participant would use in pricing the asset or liability.

Fair value measurements are classified within one of three levels based on the observability of the inputs used to determine fair value, as follows:

Level 1 — The valuation is based on quoted prices in active markets for identical instruments.

Level 2 — The valuation is based on observable inputs such as quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market.

Level 3 — The valuation is based on unobservable inputs that are supported by minimal or no market activity and that are significant to the fair value of the instrument.  Level 3 valuations are typically performed using pricing models, discounted cash flow methodologies, or similar techniques that incorporate management’s own estimates of assumptions that market participants would use in pricing the instrument, or valuations that require significant management judgment or estimation.

A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Investment securities available for sale and rabbi trusts are recorded at fair value on a recurring basis.  Additionally, the Company records at fair value other assets on a nonrecurring basis, including presold loans in process of settlement, impaired loans, and other real estate owned.  These nonrecurring fair value adjustments typically involve the application of lower of cost or market accounting for these other assets.

Fair value measurements for assets where there exists limited or no observable market data and, therefore, are based primarily upon estimates, are often calculated based on the economic and competitive environment, the characteristics of the asset and other factors.  Therefore, the results cannot be determined with precision and may not be realized in an actual sale or immediate settlement of the asset or liability.  Additionally, there may be inherent weaknesses in any calculation technique, and changes in the underlying assumptions used, including discount rates and estimates of future cash flows, could significantly affect the results of current or future values.  The following is a description of valuation methodologies used for assets recorded at fair value. The determination of where an instrument falls in the hierarchy requires significant judgment.

Financial Instruments on a Recurring Basis:

The following is a description of the valuation methodologies used for financial instruments measured at fair value on a recurring basis:

Investment Securities – Investment securities available for sale are recorded at fair value on at least a monthly basis.  Fair value measurement is based upon quoted prices, if available.  If quoted prices are not available, fair values are measured using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss assumptions.  Level 1 fair value is used for those securities traded on an active exchange, U.S. Treasury securities that are traded by brokers or dealers in an active over-the-counter market, and money market funds.  Level 2 securities include mortgage-backed securities issued by government-sponsored enterprises, municipal bonds, and corporate debt securities.  These Level 2 securities are valued using an independent third party.  This independent third party uses multiple pricing vendors and matrix pricing methods developed in accordance with the Securities Industry and Financial Markets Association’s industry-standard methods.  Level 3 investment securities include equity securities that are not traded on an active exchange, investments in closely held subsidiaries, and asset-backed securities traded in less liquid markets.

The table below presents by level, the amount of assets at June 30, 2012 and December 31, 2011 measured at fair value on a recurring basis:

	Fair Value Measurement Classification
	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
June 30, 2012
Investment Securities Available for Sale
Municipal bonds	$	-	$	1,478	$	200	$	1,678
Mortgage-backed bonds		-		15,055		-		15,055
Equity securities		-		-		1,625		1,625
Total	$	-	$	16,533	$	1,825	$	18,358
December 31, 2011
Investment Securities Available for Sale
U.S. Government Agency obligations	$	-	$	7,241	$	-	$	7,241
Municipal bonds		-		6,511		200		6,711
Mortgage-backed bonds		-		35,492		-		35,492
SBA securities		-		1,326		-		1,326
Equity securities		-		-		1,366		1,366
Total	$	-	$	50,570	$	1,566	$	52,136

The following table provides a reconciliation of the beginning and ending balances for assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the six months ended June 30, 2012 and June 30, 2011.

	Six Months Ended June 30,
	2012		2011
	(Dollars in thousands)
Beginning balance, January 1	$	1,566	$	3,023
Total gains included in:
Other comprehensive income		47		45
Purchases		212		-
Sales		-		(1,065	)
Transfers in		-		258
Ending balance, June 30	$	1,825	$	2,261

The purchases in 2012 represent capital calls for two Small Business Investment Company investments. The sales in 2011 represent the sale of corporate bonds that were not traded on an active exchange and the incoming transfers in 2011 include equity securities that were obtained as partial payment on a loan that had defaulted.

Financial Instruments on a Non-recurring Basis:

The following is a description of the valuation methodologies used for financial instruments measured at fair value on a non-recurring basis:

Investment Securities – Investment securities held to maturity are recorded at amortized cost.  Fair value measurement is based upon quoted prices, if available.  If quoted prices are not available, fair values are measured using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss assumptions.  Level 1 fair value is used for those securities traded on an active exchange, U.S. Treasury securities that are traded by brokers or dealers in an active over-the-counter market, and money market funds.  Level 2 securities include mortgage-backed securities issued by government-sponsored enterprises, municipal bonds, and corporate debt securities.  These Level 2 securities are valued using an independent third party.  This independent third party uses multiple pricing vendors and matrix pricing methods developed in accordance with the Securities Industry and Financial Markets Association’s industry-standard methods.  Level 3 investment securities include equity securities that are not traded on an active exchange, investments in closely held subsidiaries, and asset-backed securities traded in less liquid markets.

Presold Loans in Process of Settlement - The Company does not record all loans at fair value on a recurring basis.  However, loans that have been presold and are in the process of settlement are recorded at their fair value.  These presold loans are recorded as nonrecurring Level 2 since there is a firm commitment by a qualified third party to purchase the loans within a 90 day period.

Impaired Loans - Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered to be impaired. Once a loan is identified as being impaired, management measures the impairment in accordance with ASC 310-10-35. The fair value of impaired loans is estimated using one of several methods, including collateral value, market price and discounted cash flows. When the fair value of the collateral was based on an observable market price, the Company recorded the impaired loan as nonrecurring Level 2. When an observable market price was not available or when management made assumptions that impact the fair value of the collateral, such as estimated disposition or holding costs, the Company recorded the impaired loan as nonrecurring Level 3. Management has determined that the fair value of the Company’s impaired loans used Level 3 methodology.  For substantially all of the Company’s impaired loans as of June 30, 2012 and December 31, 2011, the valuation methodology utilized by the Company was collateral based measurements such as a real estate appraisal and the discount to reflect current market conditions and ultimately collectability ranged from 0% to 30% for each of the respective periods.

Other Real Estate Owned - Foreclosed assets are adjusted to fair value upon transfer of the loans to foreclosed assets. Subsequently, foreclosed assets are carried at the lower of carrying value or fair value. Fair value is based upon independent market prices, appraised values of the collateral or management’s estimation of the value of the collateral. When the fair value of the collateral is based on an observable market price, the Company records the foreclosed asset as nonrecurring Level 2. When an observable market price is not available, or when management makes assumptions that impact the fair value of the collateral, such as estimated disposition or holding costs, the Company records the other real estate owned as nonrecurring Level 3. For substantially all of the Company’s foreclosed assets as of June 30, 2012 and December 31, 2011, the valuation methodology utilized by the Company was collateral based measurements such as a real estate appraisal and the discount to reflect current market conditions ranged from 0% to 30% for each of the respective periods.

The table below presents the information about certain assets at June 30, 2012 and December 31, 2011 measured at fair value on a non-recurring basis:

	Fair Value Measurement Classification
	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
June 30, 2012
Investment Securities Held to Maturity:
U.S. Treasury obligations	$	10,019	$	-	$	-	$	10,019
U.S. Government Agency obligations		-		14,055		-		14,055
Municipal bonds		-		3,363		-		3,363
Mortgage-backed bonds		-		48,491		-		48,491
SBA securities		-		5,105		-		5,105
Corporate bonds		-		3,814		-		3,814
Presold loans in process of settlement		-		2,146		-		2,146
Impaired loans		-		-		27,565		27,565
Other real estate owned		-		-		21,405		21,405
Total	$	10,019	$	76,974	$	48,970	$	135,963
December 31, 2011
Investment Securities Held to Maturity:
U.S. Treasury obligations	$	10,033	$	-	$	-	$	10,033
U.S. Government Agency obligations		-		26,059		-		26,059
Municipal bonds		-		3,399		-		3,399
Mortgage-backed bonds		-		54,779		-		54,779
Corporate bonds		-		3,845		-		3,845
Presold loans in process of settlement		-		2,146		-		2,146
Impaired loans		-		-		29,372		29,372
Other real estate owned		-		-		17,571		17,571
Total	$	10,033	$	90,228	$	46,943	$	147,204