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Subsequent Events
3 Months Ended
Mar. 31, 2013
Subsequent Events [Abstract]  
Subsequent Events

Note 11 – Subsequent Events

 

The Company announced that it would redeem effective April 1, 2013, all $19.3 million of its 8% subordinated debentures that were scheduled to mature in 2019 at a redemption price of 100% of principal, plus accrued but unpaid interest through the redemption date. The redemption of these subordinated debentures was completed on April 1, 2013 and was funded through existing cash balances on hand at the parent company as of March 31, 2013. The entire principal amount was includable in the parent company’s consolidated Tier 2 regulatory capital under banking agency regulatory standards at March 31, 2013.