Junior Subordinated Debentures

3 Months Ended

Mar. 31, 2013

Junior Subordinated Debentures

Junior Subordinated Debentures

Note 9.  Junior Subordinated Debentures

In the second quarter of 2010, the Company began to defer interest payments on $8.2 million of junior subordinated debentures to comply with the terms of the Written Agreement entered into between the Company and the FRB.  During the second quarter of 2012, based on the Company’s receipt of regulatory approval to pay interest currently due and all previously deferred interest, the Company paid all amounts due on May 25, 2012 and has remained current on its interest payments as of March 31, 2013.  For more information concerning the Written Agreement, please refer to Note 13. Regulatory Matters, of these Condensed Consolidated Financial Statements.