PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Tables)

9 Months Ended

Sep. 30, 2012

Condensed Balance Sheets

CONDENSED BALANCE SHEETS

	September 30, 2012		December 31, 2011
	(unaudited)
Assets
Cash and cash equivalents	$	5,193	$	560
Investment in banking subsidiary		23,552		13,827
Investment in and advances to other subsidiaries		1,222		1,212
Other assets		8		264
Total assets	$	29,975	$	15,863
Liabilities and Equity
Subordinated debentures	$	5,155	$	5,155
Accrued expenses and other liabilities		458		764
Stockholders’ equity		24,362		9,944
Total liabilities and stockholders’ equity	$	29,975	$	15,863

Condensed Statements of Operations

CONDENSED STATEMENTS OF OPERATIONS

	Three months ended September 30,						Nine months ended September 30,
	2012			2011			2012			2011
Interest expense	$	46		$	42		$	138		$	125
Other expense		139			138			274			540
Loss before income tax and undistributed subsidiaries’ operations		(185	)		(180	)		(412	)		(665	)
Income tax (expense) benefit		—			—			—			—
Effect of subsidiaries’ operations		(1,724	)		(255	)		(2,920	)		(3,401	)
Net loss	$	(1,909	)	$	(435	)	$	(3,332	)	$	(4,066	)

Condensed Statements of Cash Flows

CONDENSED STATEMENTS OF CASH FLOWS

	Nine months ended September 30,
	2012			2011
Cash flows from operating activities
Net loss	$	(3,332	)	$	(4,066	)
Adjustments:
Effect of subsidiaries’ operations		2,920			3,401
Change in other assets and other liabilities		462			(156	)
Net cash from operating activities		50			(821	)
Cash flows from investing activities
Investments in banking subsidiary		(13,500	)		—
Investments in other subsidiaries		(2	)		525
Net cash from investing activities		(13,502	)		525
Cash flows from financing activities
Redemption of TARP obligations		(3,000	)		—
Net proceeds from issuance of common stock		21,085			—
Net cash from financing activities		18,085			—
Net change in cash and cash equivalents		4,633			(296	)
Beginning cash and cash equivalents		560			745
Ending cash and cash equivalents	$	5,193		$	449