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, 2011
Dec. 31, 2010
Cash and due from banks $ 43,018 $ 27,454
Interest-bearing balances due from depository institutions 99,350 204,178
Federal funds sold 100,565 346
Cash and cash equivalents 242,933 231,978
Available for sale debt securities, at fair value 293,809 276,959
Held to maturity debt securities (fair value of $15,999 and $4,963 at December 31, 2011 and 2010, respectively) 15,209 5,234
Restricted equity securities 3,501 3,510
Mortgage loans held for sale 17,859 7,875
Loans 1,830,742 1,394,818
Less allowance for loan losses (22,030) (18,077)
Loans, net 1,808,712 1,376,741
Premises and equipment, net 4,591 4,450
Accrued interest and dividends receivable 8,192 6,990
Deferred tax assets 4,914 6,366
Other real estate owned 12,275 6,966
Bank owned life insurance contracts 40,390  
Other assets 8,400 8,097
Total assets 2,460,785 1,935,166
Deposits:    
Noninterest-bearing 418,810 250,490
Interest-bearing 1,725,077 1,508,226
Total deposits 2,143,887 1,758,716
Federal funds purchased 79,265  
Other borrowings 4,954 24,937
Subordinated debentures 30,514 30,420
Accrued interest payable 945 898
Other liabilities 4,928 3,095
Total liabilities 2,264,493 1,818,066
Stockholders' equity:    
Common stock, par value $.001 per share; 15,000,000 shares authorized; 5,932,182 shares issued and outstanding at December 31, 2011 and 5,527,482 shares issued and outstanding at December 31, 2010 6 6
Additional paid-in capital 87,805 75,914
Retained earnings 61,581 38,343
Accumulated other comprehensive income 6,942 2,837
Total stockholders' equity 196,292 117,100
Total liabilities and shareholders' equity 2,460,785 1,935,166
Preferred stock, Series A Senior Non-Cumulative Perpetual
    
Stockholders' equity:    
Preferred stock $ 39,958