|
CONDENSED FINANCIAL INFORMATION (PARENT COMPANY ONLY) (Tables)
|
12 Months Ended |
|
Dec. 31, 2013
|
| Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
|
| Condensed Balance Sheet [Table Text Block] |
| | | Condensed Balance Sheets | | | | | December 31, | | | (Dollars in thousands) | | 2013 | | 2012 | | | Assets | | | | | | | | | | | | | | | | | | Cash and interest bearing deposits | | $ | 147 | | $ | 333 | | | Investment in Bank | | | 58,490 | | | 67,525 | | | Other assets | | | 91 | | | 72 | | | | | $ | 58,728 | | $ | 67,930 | | | | | | | | | | | | Liabilities and Stockholders' Equity | | | | | | | | | Subordinated debentures | | $ | 18,000 | | $ | 18,000 | | | Other liabilities | | | 7,909 | | | 5,558 | | | Stockholders' equity | | | 32,819 | | | 44,372 | | | | | $ | 58,728 | | $ | 67,930 | | |
| Condensed Income Statement [Table Text Block] |
Condensed Statements of Income/(Loss) | | | Year Ended | | | | | December 31, | | | (Dollars in thousands) | | 2013 | | 2012 | | 2011 | | | | | | | | | | | | | | | Interest income | | $ | - | | $ | - | | $ | 41 | | | Interest expense | | | (1,363) | | | (1,444) | | | (1,373) | | | Gain on sale of investments | | | - | | | - | | | 157 | | | Other expenses | | | (546) | | | (462) | | | (226) | | | Income (loss) before income tax benefit | | | (1,909) | | | (1,906) | | | (1,401) | | | Income tax benefit | | | - | | | - | | | (140) | | | Income (loss) before equity in undistributed net income/(loss) of Bank | | | (1,909) | | | (1,906) | | | (1,261) | | | Equity in undistributed net income/(loss) of Bank | | | 2,650 | | | (6,487) | | | (21,900) | | | Net income/(loss) | | $ | 741 | | $ | (8,393) | | $ | (23,161) | | | | | | | | | | | | | | | Comprehensive income (loss) | | $ | (11,097) | | $ | (8,449) | | $ | (17,120) | | |
| Condensed Cash Flow Statement [Table Text Block] |
| Condensed Statements of Cash Flows | | | | | Year Ended | | | (Dollars in thousands) | | December 31, | | | | | 2013 | | 2012 | | 2011 | | | | | | | | | | | | | | | Operating Activities: | | | | | | | | | | | | Net income/(loss) | | $ | 741 | | $ | (8,393) | | $ | (23,161) | | | Adjustments to reconcile net income/(loss) to cash provided by operating activities: | | | | | | | | | | | | Equity in undistributed net income/(loss) of Bank | | | (2,650) | | | 6,487 | | | 21,900 | | | Gain on sale of investments available-for-sale | | | - | | | - | | | (157) | | | Stock-based compensation expense | | | 499 | | | 309 | | | 186 | | | Changes in: | | | | | | | | | | | | Other assets | | | (172) | | | (105) | | | (113) | | | Accounts payable and other liabilities | | | 1,351 | | | 1,429 | | | 1,128 | | | Net cash from operating activities | | | (231) | | | (273) | | | (217) | | | | | | | | | | | | | | | Investing Activities: | | | | | | | | | | | | Sales of securities available-for-sale | | | - | | | - | | | 448 | | | Net cash from investing activities | | | - | | | - | | | 448 | | | | | | | | | | | | | | | Financing Activities: | | | | | | | | | | | | Issuance of common stock under dividend reinvestment program | | | - | | | 10 | | | 2 | | | Issuance of common stock for employee benefit plans and exercise of stock options | | | 45 | | | 39 | | | 84 | | | Net cash from financing activities | | | 45 | | | 49 | | | 86 | | | | | | | | | | | | | | | Net change in cash and interest bearing deposits | | | (186) | | | (224) | | | 317 | | | Cash and interest bearing deposits, beginning of year | | | 333 | | | 557 | | | 240 | | | Cash and interest bearing deposits, end of year | | $ | 147 | | $ | 333 | | $ | 557 | | |