Parent Company Statements

12 Months Ended

Dec. 31, 2011

Parent Company Statements [Abstract]

Parent Company Statements

22. Parent Company Statements

Condensed parent company financial statements, which include transactions with subsidiaries, follow:

	December 31
Statements of Financial Condition	2011		2010
	(In Thousands)
Assets
Cash and cash equivalents	$	11,466	$	1,868
Available for Sale Securities		2,010		0
Investment in banking subsidiary		287,823		266,752
Investment in non-bank subsidiary		12,205		6,976
Other assets		1,783		1,744
Total assets	$	315,287	$	277,340
Liabilities and stockholders' equity:
Subordinated debentures	$	36,083	$	36,083
Accrued liabilities		1,077		926
Stockholders' equity		278,127		240,331
Total liabilities and stockholders' equity	$	315,287	$	277,340

	Years Ended December 31
Statements of Income	2011			2010			2009
	(In Thousands)
Dividends from subsidiaries	$	—		$	5,802		$	6,050
Interest on investments		8			—			—
Interest expense		(1,278	)		(1,315	)		(1,471	)
Other-than-temporary impairment on investment securities		—			—			(419	)
Other income		1			—			(3	)
Noninterest expense		(690	)		(857	)		(881	)
Income (loss) before income taxes and equity in earnings of subsidiaries		(1,959	)		3,630			3,276
Income tax credit		(665	)		(739	)		(950	)
Income (loss) before equity in earnings of subsidiaries		(1,294	)		4,369			4,226
Undistributed equity in (distributions in excess of) earnings of subsidiaries		16,828			3,739			2,968
Net income	$	15,534		$	8,108		$	7,194
Comprehensive income	$	19,873		$	7,924		$	8,940

	Years Ended December 31
Statements of Cash Flows	2011			2010			2009
	(In Thousands)
Operating activities:
Net income	$	15,534		$	8,108		$	7,194
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Distribution in excess of (undistributed equity in) earnings of subsidiaries		(16,828	)		(3,739	)		(2,968	)
OTTI on investment securities		—			—			419
Change in other assets and liabilities		109			(1,045	)		741
Net cash provided by (used in) operating activities		(1,185	)		3,324			5,386
Investing activities:
Investment in non-bank subsidiary		(4,785	)		(1,500	)		—
Purchase of available-for-sale securities		(2,000	)		—			—
Net cash (used in) provided by investing activities		(6,785	)		(1,500	)		—
Financing activities:
Equity incentive plans		40			3			5
Cash dividends paid		(2,331	)		(1,850	)		(5,523	)
Proceeds from issuance of common stock		19,859			—			—
Net cash used in financing activities		17,567			(1,847	)		(5,518	)
Net increase (decrease) in cash and cash equivalents		9,598			(23	)		(132	)
Cash and cash equivalents at beginning of year		1,868			1,891			2,023
Cash and cash equivalents at end of year	$	11,466		$	1,868		$	1,891