Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
ASSETS    
Cash and due from banks $ 38,714 $ 33,556
Federal funds sold and other short -term investments 118,178 192,802
Cash and cash equivalents 156,892 226,358
Interest-bearing time deposits in other financial institutions 25,000 0
Securities available for sale, at fair value 139,659 123,497
Securities held to maturity (fair value 2013 - $19,278 and 2012 - $4,301) 19,248 4,300
Federal Home Loan Bank (FHLB) stock 11,236 11,236
Loans held for sale, at fair value 1,915 8,130
Total loans 1,042,377 1,052,348
Allowance for loan losses (20,798) (23,739)
Net loans 1,021,579 1,028,609
Premises and equipment - net 53,641 53,576
Accrued interest receivable 3,231 3,411
Bank-owned life insurance 27,517 26,804
Other real estate owned 36,796 51,582
Net deferred tax asset 16,200 18,780
Other assets 4,491 4,435
Total assets 1,517,405 1,560,718
Deposits    
Noninterest-bearing 344,550 339,520
Interest-bearing 905,184 946,741
Total deposits 1,249,734 1,286,261
Other borrowed funds 89,991 91,822
Long-term debt 41,238 41,238
Subordinated debt 0 1,650
Accrued expenses and other liabilities 3,920 9,240
Total liabilities 1,384,883 1,430,211
Commitments and contingent liabilities      
Preferred stock, no par value, 500,000 shares authorized;    
Common stock, no par value, 200,000,000 shares authorized; 33,801,097 shares issued and outstanding at December 31, 2013 and 27,203,825 shares issued and outstanding at December 31, 2012 216,263 187,718
Retained deficit (81,786) (91,335)
Accumulated other comprehensive income (loss) (1,955) 960
Total shareholders' equity 132,522 130,507
Total liabilities and shareholders' equity 1,517,405 1,560,718
Series A Noncumulative Convertible Preferred Stock [Member]
    
Preferred stock, no par value, 500,000 shares authorized;    
Preferred stock 0 30,604
Series B Noncumulative Convertible Preferred Stock [Member]
    
Preferred stock, no par value, 500,000 shares authorized;    
Preferred stock $ 0 $ 2,560