CommunityOne Bancrop (Parent Company)

12 Months Ended

Dec. 31, 2013

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

CommunityOne Bancrop (Parent Company)

CommunityOne Bancorp (Parent Company)

The parent company’s principal asset is its investments in its bank subsidiary, the Bank.

The condensed financial position as of December 31, 2013 and 2012, and the condensed results of operations and cash flows for each of the years in the three-year period ended December 31, 2013 of COB, parent company only, are presented below.

(dollars in thousands)
	2013			2012
Condensed Balance Sheets
Assets:
Cash	$	637		$	606
Investment in subsidiaries	143,683			161,007
Other assets	505			81
Total Assets	$	144,825		$	161,694
Liabilities and shareholders’ equity:
Accrued liabilities	$	7,762		$	6,547
Borrowed funds	56,702			56,702
Shareholders’ equity	80,361			98,445
Total Shareholders’ Equity and Liabilities	$	144,825		$	161,694
	2013			2012			2011
Condensed Statements of Operations
Noninterest income	$	31		$	34		$	32
Interest expense	(1,092		)	(1,157		)	(1,072		)
Noninterest expense	(742		)	(970		)	(3,351		)
Loss before tax (benefit) expense	(1,803		)	(2,093		)	(4,391		)
Income tax expense (benefit)	—			(311		)	723
Loss before equity in undistributed net loss of subsidiaries	(1,803		)	(1,782		)	(5,114		)
Equity in undistributed net loss of subsidiaries	320			(38,223		)	(132,200		)
Net loss	(1,483		)	(40,005		)	(137,314		)
Preferred stock gain on retirement, net of accretion, and dividends	—			—			44,592
Net Loss to Common Shareholders	$	(1,483	)	$	(40,005	)	$	(92,722	)
Condensed Statements of Cash Flows
Cash flows from operating activities
Net Loss	$	(1,483	)	$	(40,005	)	$	(137,314	)
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed net loss of subsidiaries	(320		)	38,223			132,200
Other, net	1,153			503			6,638
Net cash provided by (used in) operating activities	(650		)	(1,279		)	1,524
Cash flows from investing activities
Downstream cash investment in subsidiary	—			(6,709		)	(287,711		)
Net cash used in investing activities	—			(6,709		)	(287,711		)
Cash flows from financing activities
Proceeds from issuance of common stock				6,694			289,571
Cash dividends paid on preferred stock	—			—			(756		)
Other	681			(908		)	—
Net cash provided by (used in) financing activities	681			5,786			288,815
Net increase (decrease) in cash	31			(2,202		)	2,628
Cash at beginning of period	606			2,808			180
Cash at end of period	$	637		$	606		$	2,808