Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

v2.4.0.6
CONSOLIDATED BALANCE SHEETS (USD $)
Dec. 31, 2012
Dec. 31, 2011
ASSETS    
Cash and due from banks $ 33,556,000 $ 30,971,000
Federal funds sold and other short -term investments 192,802,000 212,071,000
Cash and cash equivalents 226,358,000 243,042,000
Securities available for sale, at fair value 123,497,000 54,746,000
Securities held to maturity (fair value 2012 - $4,301, 2011 - $300) 4,300,000 300,000
Federal Home Loan Bank (FHLB) stock 11,236,000 11,236,000
Loans held for sale, at fair value 8,130,000 1,026,000
Total loans 1,052,348,000 1,070,975,000
Allowance for loan losses (23,739,000) (31,641,000)
Net loans 1,028,609,000 1,039,334,000
Premises and equipment - net 53,576,000 55,358,000
Accrued interest receivable 3,411,000 3,595,000
Bank-owned life insurance 26,804,000 25,957,000
Other real estate owned 51,582,000 66,438,000
Net deferred tax asset 18,780,000 0
Other assets 4,435,000 6,635,000
Total assets 1,560,718,000 1,507,667,000
Deposits    
Noninterest-bearing 339,520,000 324,253,000
Interest-bearing 946,741,000 891,036,000
Total deposits 1,286,261,000 1,215,289,000
Other borrowed funds 91,822,000 148,603,000
Long-term debt 41,238,000 41,238,000
Subordinated debt 1,650,000 1,650,000
Accrued expenses and other liabilities 9,240,000 6,461,000
Total liabilities 1,430,211,000 1,413,241,000
Commitments and contingent liabilities      
Preferred stock, no par value, 500,000 shares authorized;    
Common stock, no par value, 200,000,000 shares authorized; 27,203,825 and 27,082,823 shares issued and outstanding at December 31, 2012 and 2011, respectively 187,718,000 187,709,000
Retained deficit (91,335,000) (126,825,000)
Accumulated other comprehensive income 960,000 378,000
Total shareholders' equity 130,507,000 94,426,000
Total liabilities and shareholders' equity 1,560,718,000 1,507,667,000
Series A Noncumulative Convertible Preferred Stock [Member]
    
Preferred stock, no par value, 500,000 shares authorized;    
Preferred stock 30,604,000 30,604,000
Series B Noncumulative Convertible Preferred Stock [Member]
    
Preferred stock, no par value, 500,000 shares authorized;    
Preferred stock $ 2,560,000 $ 2,560,000