DERIVATIVE INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments [Table Text Block]

Derivative instruments held by the Company at June 30, 2012 and December 31, 2011 are summarized as follows:

	June 30, 2012			December 31, 2011
	Notional		Credit	Notional	Credit
	Amount		Exposure	Amount	Exposure
	(dollars expressed in thousands)
Interest rate swap agreements	$	25,000	—	50,000	—
Customer interest rate swap agreements		14,428	172	47,240	441
Interest rate lock commitments		85,648	3,090	38,985	1,381
Forward commitments to sell mortgage-backed securities		110,500	—	58,800	—

Schedule of Interest Rate Derivatives [Table Text Block]

The maturity dates, notional amounts, interest rates paid and received and fair value of the Company’s remaining interest rate swap agreements, previously designated as cash flow hedges on certain junior subordinated debentures, as of June 30, 2012 and December 31, 2011 were as follows:

		Notional	Interest Rate		Interest Rate
Maturity Date		Amount	Paid		Received		Fair Value
	(dollars expressed in thousands)
June 30, 2012:
December 15, 2012	$	25,000	5.57	%	2.72	%	$	(337	)
December 31, 2011:
March 30, 2012	$	25,000	4.71	%	2.19	%	$	(159	)
December 15, 2012		25,000	5.57		2.80			(648	)
	$	50,000	5.14		2.50		$	(807	)

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The following table summarizes derivative instruments held by the Company, their estimated fair values and their location in the consolidated balance sheets at June 30, 2012 and December 31, 2011:

	June 30, 2012				December 31, 2011
	Balance Sheet	Fair Value			Balance Sheet	Fair Value
	Location	Gain (Loss)			Location	Gain (Loss)
	(dollars expressed in thousands)
Derivative Instruments Not Designated as Hedging
Instruments Under ASC Topic 815:
Customer interest rate swap agreements	Other assets	$	142		Other assets	$	370
Interest rate lock commitments	Other assets		3,090		Other assets		1,381
Forward commitments to sell mortgage-backed securities	Other assets		(1,157	)	Other assets		(729	)
Total derivatives in other assets		$	2,075			$	1,022
Interest rate swap agreements	Other liabilities	$	(337	)	Other liabilities	$	(807	)
Customer interest rate swap agreements	Other liabilities		(142	)	Other liabilities		(307	)
Total derivatives in other liabilities		$	(479	)		$	(1,114	)

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]

The following table summarizes amounts included in the consolidated statements of operations for the three and six months ended June 30, 2012 and 2011 related to non-hedging derivative instruments:

	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2012			2011		2012		2011
	(dollars expressed in thousands)
Derivative Instruments Not Designated as Hedging Instruments
Under ASC Topic 815:
Interest rate swap agreements – subordinated debentures:
Net loss on derivative instruments	$	(2	)	(165	)	(41	)	(221	)
Customer interest rate swap agreements:
Net loss on derivative instruments		—		—		3		—
Interest rate lock commitments:
Gain on loans sold and held for sale		1,582		106		1,709		410
Forward commitments to sell mortgage-backed securities:
Gain on loans sold and held for sale		(1,200	)	8		(428	)	(1,634	)