Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2011

Parent Company Only Financial Information [Abstract]

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

Parent Company Only Financial Information

Condensed Balance Sheets	December 31,
(Dollars in thousands)	2011		2010
Assets:
Cash and due from other banks	$	50	$	50
Interest-bearing deposits in subsidiary bank	4,032		26,116
Receivable from subsidiary bank	4,032		572
Available-for-sale investment securities, at estimated fair value (amortized cost of $1,213 and $1,238 at December 31, 2011 and 2010, respectively)	3,254		3,113
Investments in subsidiaries:
Bank	195,338		200,839
Non-bank	29,161		28,488
Other assets	1,223		1,225
Total assets	$	237,090	$	260,403
Liabilities:
Accrued expenses and other liabilities	$	7,458	$	5,449
Dividends payable	—		1,298
Junior subordinated debentures held by subsidiary trust	22,975		22,975
Total liabilities	30,433		29,722
Preferred stockholders' equity	—		38,645
Common stockholders' equity	206,657		192,036
Total stockholders' equity	206,657		230,681
Total liabilities and stockholders' equity	$	237,090	$	260,403

Condensed Statements of Income	Year Ended December 31,
(Dollars in thousands)	2011			2010			2009
Income:
Dividends from subsidiary bank	$	25,500		$	8,600		$	3,000
Dividends from non-bank subsidiary	—			950			5,250
Interest and other income	175			366			495
Total income	25,675			9,916			8,745
Expenses:
Interest expense on junior subordinated notes held by subsidiary trusts	2,014			2,021			2,015
Intercompany management fees	921			950			909
Other expense	1,335			994			1,067
Total expenses	4,270			3,965			3,991
Income (loss) before federal income taxes and (excess dividends from) equity in undistributed earnings of subsidiaries	21,405			5,951			4,754
Applicable income tax benefit	(1,734		)	(1,354		)	(1,522		)
(Excess dividends from) equity in undistributed earnings of subsidiaries	(10,584		)	(1,724		)	(2,086		)
Net income	$	12,555		$	5,581		$	4,190

Statements of Cash Flows	Year Ended December 31,
(Dollars in thousands)	2011			2010			2009
Operating activities
Net income	$	12,555		$	5,581		$	4,190
Adjustment to reconcile net income to cash provided by operations:
Excess dividends from undistributed earnings of subsidiaries	10,584			1,724			2,086
Other, net	2,534			431			(142		)
Net cash provided by operating activities	25,673			7,736			6,134
Investing activities
Net proceeds from sales and maturities (purchases of) investment securities	25			171			38
Investment in subsidiaries	—			—			(18,000		)
Change in receivable from subsidiary	(3,451		)	(15		)	(153		)
Net cash (used in) provided by investing activities	(3,426		)	156			(18,115		)
Financing activities
Issuance of preferred shares and common stock warrant	—			—			39,000
Repurchase of preferred shares	(39,000		)	—			—
Preferred stock dividends	(1,232		)	(1,950		)	(1,543		)
Purchase of treasury stock	(187		)	(181		)	(249		)
Proceeds from issuance of common stock	10			447			4
Cash dividends paid	(3,922		)	(3,822		)	(7,426		)
Excess tax (expense) benefit for share based payments	—			4			(14		)
Net cash (used in) provided by financing activities	(44,331		)	(5,502		)	29,772
Net (decrease) increase in cash and cash equivalents	(22,084		)	2,390			17,791
Cash and cash equivalents at the beginning of year	26,166			23,776			5,985
Cash and cash equivalents at the end of year	$	4,082		$	26,166		$	23,776
Supplemental cash flow information:
Interest paid	$	1,981		$	1,980		$	1,980