Readmission chances?

Was wondering if anyone could help me figure out my chances of getting readmitted.

I began at a community college and transfered sophmore year to BSU before finishing my Associates. First semester I had a lot of financial issues and ended up failing two of my classes, which dropped my GPA down to a 1.00. When I transfered I had a 3.00 GPA, but as a transfer i started with a fresh GPA, so the 1.00 was only reflectant on that first semester. I took the semester and went back to the community college and am in the process of finishing my associates (which will be done this semester). My question is, if I get a decent grades this semester do I have a chance to transfer back? I really loved this school and hate myself for getting so distracted.

Thanks for any help!