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PARENT COMPANY FINANCIAL INFORMATION
 12 Months Ended
Dec. 31, 2012
PARENT COMPANY FINANCIAL INFORMATION [Abstract]  
PARENT COMPANY FINANCIAL INFORMATION

 
Condensed Balance Sheets

 
 
-December 31-
 
 
 
2012
  
2011
 
 
 
(in $1,000s)
 
Assets
 
  
 
Cash on deposit, principally with subsidiary banks
 
$
207
  
$
1,411
 
Money market funds on deposit, principally with subsidiary
banks
  
 
1,427
   
 
3,234
 
Cash and cash equivalents
  
1,634
   
4,645
 
Investment securities
  
123
   
82
 
Loans, net
  
255
   
269
 
Investments in and advances to subsidiaries
  
96,644
   
111,583
 
Investment in and advances to Amera Mortgage Corporation
  
432
   
434
 
Investment in and advances to CDBL III
  
1,712
   
1,896
 
Equipment, furniture and software, net
  
1,412
   
1,717
 
Other assets
  
2,804
   
3,053
 
 
        
Total assets
 
$
105,016
  
$
123,679
 
 
        
Liabilities and Stockholders' Equity
        
Liabilities:
        
Accounts payable, accrued expenses and other liabilities
 
$
6,397
  
$
38,290
 
Debt obligations
  
609
   
12,731
 
Subordinated debentures
      
180,742
 
Liabilities subject to compromise
  
231,879
     
Total liabilities
  
238,885
   
231,763
 
Stockholders' equity deficit
  
(133,869
)
  
(108,084
)
 
        
Total liabilities and stockholders' equity
 
$
105,016
  
$
123,679
 





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Condensed Statements of Operations and Comprehensive Loss

 
 
-Year Ended December 31-
 
 
 
2012
  
2011
  
2010
 
 
 
(in $1,000s)
 
Income:
 
  
  
 
Intercompany fees
 
$
8,359
  
$
11,120
  
$
22,057
 
Dividends from subsidiaries
      
11,000
   
5,000
 
Interest
  
791
   
2,561
   
996
 
Gain (loss) on sales of bank subsidiaries
  
19
   
(1,949
)
  
12,749
 
Gain on debt extinguishment
      
16,861
   
1,255
 
Other
  
5,404
   
6,219
   
(704
)
Total income
  
14,573
   
45,812
   
41,353
 
Expenses:
            
Interest
  
6,160
   
6,450
   
15,427
 
Salaries and employee benefits
  
7,314
   
8,087
   
14,771
 
Occupancy
  
1,125
   
1,254
   
2,264
 
Equipment rent and depreciation
  
289
   
407
   
3,205
 
Goodwill impairment
          
38,718
 
Other
  
5,548
   
6,373
   
9,236
 
Total expenses
  
20,436
   
22,571
   
83,621
 
Income (loss) before equity in undistributed net
losses of consolidated subsidiaries, reorganization
items and income taxes
  
(5,863
)
  
23,241
   
(42,268
)
Equity in net losses of consolidated subsidiaries
  
(16,832
)
  
(69,464
)
  
(189,553
)
Less reorganization items
  
2,956
         
Loss before income taxes
  
(25,651
)
  
(46,223
)
  
(231,821
)
Income tax
  
(177
)
  
(796
)
  
(6,606
)
 
            
Net loss
 
 
(25,474
)
 
 
(45,427
)
 
 
(225,215
)
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) arising during the period
2(86)219
 
            
Comprehensive loss
 
$
(25,472
)
 
$
(45,513
)
 
$
(224,996
)





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Condensed Statements of Cash Flows

 
 
-Year Ended December 31-
 
 
 
2012
  
2011
  
2010
 
 
 
(in $1,000s)
 
OPERATING ACTIVITIES
 
  
  
 
Net loss
 
$
(25,474
)
 
$
(45,427
)
 
$
(225,215
)
Adjustments to reconcile net loss to net cash provided
by operating activities:
            
Equity in net losses of consolidated subsidiaries
  
16,832
   
69,464
   
189,553
 
Depreciation and amortization of intangibles
  
390
   
450
   
1,690
 
Reorganization items
  
2,956
         
Loss on sales of other real estate owned
  
1,316
         
Goodwill impairment
          
38,718
 
Loss on sales of equipment and furniture
      
2
   
4
 
Loss (gain) on sales of bank subsidiaries
  
(19
)
  
1,949
   
(12,749
)
Gain on debt extinguishment
      
(16,861
)
  
(1,255
)
Realized loss on sales of investment securities
          
362
 
Decrease (increase) in amounts due from subsidiaries and
other assets
  
2,725
   
(2,366
)
  
9,367
 
Increase in accounts payable, accrued expenses and other
liabilities
  
5,007
   
6,433
   
8,784
 
NET CASH PROVIDED BY OPERATING ACTIVITIES
  
3,733
   
13,644
   
9,259
 
 
            
INVESTING ACTIVITIES
            
Net cash investments in subsidiaries
  
(10,545
)
  
(48,262
)
  
(79,084
)
Proceeds from sales of investment securities
      
507
   
2,102
 
Purchases of investment securities
          
(100
)
Net decrease in loans
  
14
   
4,735
   
4,927
 
Proceeds from sales of other real estate owned
  
802
         
Proceeds from sales of equipment and furniture
      
4
   
3,707
 
Purchases of equipment and furniture
  
(85
)
  
(175
)
  
(240
)
Proceeds from sales of bank subsidiaries
  
3,099
   
26,543
   
58,796
 
NET CASH USED BY INVESTING ACTIVITIES
  
(6,715
)
  
(16,648
)
  
(9,892
)
 
            
FINANCING ACTIVITIES
            
Net payments on debt obligations
          
(1,000
)
Net proceeds from issuance of common stock
          
6,870
 
Tax effect of share-based payments
  
(29
)
  
(256
)
  
(293
)
NET CASH PROVIDED (USED) BY FINANCING
ACTIVITIES
  
 
(29
 
)
  
 
(256
 
)
  
 
5,577
 
INCREASE (DECREASE) IN CASH AND CASH
EQUIVALENTS
  
 
(3,011
 
)
  
 
(3,260
 
)
  
 
4,944
 
Cash and cash equivalents at beginning of year
  
4,645
   
7,905
   
2,961
 
 
            
CASH AND CASH EQUIVALENTS AT END OF YEAR
 
$
1,634
  
$
4,645
  
$
7,905