Parent Company only Condensed Financial Information (Tables) (Parent Company)

12 Months Ended

Dec. 31, 2012

Parent Company

Condensed financial statements

Schedule of condensed balance sheets

Condensed Balance Sheets

	December 31,
	2012		2011
	(Dollars in thousands)
Assets
Cash and cash equivalents	$	11,193	$	24,347
Investment in subsidiary bank		164,949		195,041
Investment in subsidiary trusts		279		702
Other assets		2,650		2,246
Total assets	$	179,071	$	222,336
Liabilities and Shareholder's Equity
Subordinated debt	$	9,279	$	23,702
Other liabilities		51		803
Shareholder's equity		169,741		197,831
Total liabilities and shareholder's equity	$	179,071	$	222,336

Schedule of condensed statements of operations

Condensed Statements of Operations

	For the Year Ended December 31,
	2012			2011			2010
	(Dollars in thousands)
Interest income	$	1		$	10		$	13
Dividend from subsidiary bank		45,000			—			—
Interest expense		(1,383	)		(1,871	)		(1,878	)
Other expenses		(2,615	)		(2,232	)		(2,500	)
Income (loss) before income taxes and undistributed net income (loss) of subsidiary bank		41,003			(4,093	)		(4,365	)
Equity in net income (loss) of subsidiary bank:
Reduction in contributed capital and distribution from subsidiary bank		(45,000	)		—			—
Net income (loss) of subsidiary bank		12,710			14,348			(52,184	)
Income tax benefit		1,196			1,116			692
Net income (loss)		9,909			11,371			(55,857	)
Dividends and discount accretion on preferred stock		(1,206	)		(2,333	)		(2,398	)
Net income (loss) available to common shareholders	$	8,703		$	9,038		$	(58,255	)

Schedule of condensed statements of cash flows

Condensed Statements of Cash Flows

	For the Year Ended December 31,
	2012			2011			2010
	(Dollars in thousands)
Cash flows from operating activities:
Net Income (loss)	$	9,909		$	11,371		$	(55,857	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operations:
Amortization of restricted stock award, net of forfeitures and taxes		148			75			89
Equity in undistributed loss/(net income) of subsidiary bank		32,290			(14,348	)		52,184
Net change in other assets and liabilities		(733	)		(1,182	)		1,396
Net cash provided by (used in) operating activities		41,614			(4,084	)		(2,188	)
Cash flows from investing activities:
Equity investment in subsidiary bank		—			—			(40,000	)
Cash flows from financing activities:
Repayment of subordinated debt		(14,423	)		—			—
Payment of cash dividends — preferred stock		(373	)		(4,672	)		—
Repayment of preferred stock		(40,000	)		—			—
Issuance of common stock, net of issuance costs		28			—			—
Issuance of preferred stock, net of issuance costs		—			—			69,698
Net cash provided by (used in) financing activities		(54,768	)		(4,672	)		69,698
Net increase (decrease) in cash and cash equivalents		(13,154	)		(8,756	)		27,510
Cash and cash equivalents, beginning of year		24,347			33,103			5,593
Cash and cash equivalents, end of year	$	11,193		$	24,347		$	33,103