Condensed Financial Information (Parent Company Only)

12 Months Ended

Dec. 31, 2011

Condensed Financial Information (Parent Company Only) [Abstract]

Condensed Financial Information (Parent Company Only)

NOTE 24: CONDENSED FINANCIAL INFORMATION (PARENT COMPANY ONLY)

Condensed Balance Sheets
December 31, 2011 and 2010

		2011			2010
(In thousands)
ASSETS
Cash and cash equivalents	$	743		$	842
Investments in subsidiaries:
Bank of Blue Valley		64,282			77,703
BVBC Capital Trust II		232			232
BVBC Capital Trust III		356			356
Other assets		55			1,214
Total Assets	$	65,668		$	80,347
LIABILITIES
Subordinated debentures	$	19,588		$	19,588
Other liabilities		5,625			3,595
Total Liabilities		25,213			23,183
STOCKHOLDERS' EQUITY
Preferred Stock		22			22
Common stock		2,879			2,843
Additional paid-in capital		38,511			38,431
Retained earnings (Accumulated deficit)		(1,091	)		15,838
Accumulated other comprehensive income, net of income tax of $89 and $20 at
2011 and 2010, respectively		134			30
Total Stockholders' Equity		40,455			57,164
Total Liabilities and Stockholders' Equity	$	65,668		$	80,347

Condensed Statements of Operations
Years Ended December 31, 2011, 2010 and 2009

		2011			2010			2009
(In thousands)
Income
Dividends from subsidiaries		$ –			$ –		$	700
Other income		19			20			20
		19			20			720
Expenses		1,291			1,496			1,336
Loss before income taxes and equity in undistributed net loss of
subsidiaries		(1,272	)		(1,476	)		(616	)
Income tax (benefit)		(1,142	)		(531	)		(474	)
Valuation allowance on deferred tax asset		2,169			–			–
Loss before equity in undistributed net loss of subsidiaries		(2,299	)		(945	)		(142	)
Equity in undistributed net loss of subsidiaries		(13,524	)		(1,797	)		(14,468	)
Net loss	$	(15,823	)	$	(2,742	)	$	(14,610	)

Condensed Statements of Cash Flows
Years Ended December 31, 2011, 2010 and 2009

		2011			2010			2009
(In thousands)
OPERATING ACTIVITIES
Net loss	$	(15,823	)	$	(2,742	)	$	(14,610	)
Items not requiring (providing) cash:
Deferred income taxes		1,197			(417	)		(29	)
Equity in undistributed net loss of subsidiaries		13,524			1,797			14,468
Restricted stock earned		77			428			287
Changes in:
Other assets		(38	)		–			(243	)
Other liabilities		943			842			696
Net cash provided by (used in) operating activities		(120	)		(92	)		569
INVESTING ACTIVITIES
Capital contributed to subsidiary		–			–			(4,000	)
Net cash used in investing activities		–			–			(4,000	)
FINANCING ACTIVITIES
Dividends paid on preferred stock		–			–			(212	)
Proceeds from sale of common stock through Employee
Stock Purchase Plan (ESPP)		21			35			62
Net cash provided by (used in) financing activities		21			35			(150	)
DECREASE IN CASH AND CASH EQUIVALENTS		(99	)		(57	)		(3,581	)
CASH AND CASH EQUIVALENTS,
BEGINNING OF YEAR		842			899			4,480
CASH AND CASH EQUIVALENTS,
END OF YEAR	$	743		$	842		$	899