My bash profile with git branch highlighting in prompt

bash_profile

#
# System-wide .profile for sh(1)
#
 
# Environment Definitions
EDITOR=/usr/bin/nano
 
# aliases
alias ll="ls -lha"
alias opwd="echo $OLDPWD"
alias birs="bundle install && rails s"
 
# Color Constants
 
        RED="\[\033[0;31m\]"
     YELLOW="\[\033[0;33m\]"
 	  GREEN="\[\033[0;32m\]"
       BLUE="\[\033[0;34m\]"
  LIGHT_RED="\[\033[1;31m\]"
LIGHT_GREEN="\[\033[1;32m\]"
      WHITE="\[\033[1;37m\]"
 LIGHT_GRAY="\[\033[0;37m\]"
 COLOR_NONE="\[\e[0m\]"
 
if [ -x /usr/libexec/path_helper ]; then
	eval `/usr/libexec/path_helper -s`
fi
 
if [ "${BASH-no}" != "no" ]; then
	[ -r /etc/bashrc ] && . /etc/bashrc
fi
 
# Functions to build prompt with git branch info
function parse_git_branch {
 
  git rev-parse --git-dir &> /dev/null
  git_status="$(git status 2> /dev/null)"
  branch_pattern="^On branch ([^${IFS}]*)"
  remote_pattern="Your branch is (.*) of"
  diverge_pattern="Your branch and (.*) have diverged"
  if [[ ! ${git_status} =~ "working directory clean" ]]; then
    state="${RED}⚡"
  fi
  # add an else if or two here if you want to get more specific
  if [[ ${git_status} =~ ${remote_pattern} ]]; then
    if [[ ${BASH_REMATCH[1]} == "ahead" ]]; then
      remote="${YELLOW}↑"
    else
      remote="${YELLOW}↓"
    fi
  fi
  if [[ ${git_status} =~ ${diverge_pattern} ]]; then
    remote="${YELLOW}↕"
  fi
  if [[ ${git_status} =~ ${branch_pattern} ]]; then
    branch=${BASH_REMATCH[1]}
    echo " (${branch})${remote}${state}"
  fi
}
 
function prompt_func() {
    previous_return_value=$?;
    # prompt="${TITLEBAR}$BLUE[$RED\w$GREEN$(__git_ps1)$YELLOW$(git_dirty_flag)$BLUE]$COLOR_NONE "
    prompt="\w${GREEN}$(parse_git_branch)${COLOR_NONE}"
    PS1="${prompt} $ "
}
 
PROMPT_COMMAND=prompt_func

[[ -s "$HOME/.rvm/scripts/rvm" ]] && source "$HOME/.rvm/scripts/rvm" # Load RVM into a shell session *as a function*
[[ -s "$HOME/.rvm/scripts/rvm" ]] && . "$HOME/.rvm/scripts/rvm" # Load RVM function

PATH=$PATH:$HOME/.rvm/gems/ruby-1.9.3-p362/bin:$HOME/.rvm/gems/ruby-1.9.3-p362@global/bin:$HOME/.rvm/rubies/ruby-1.9.3-p362/bin:$HOME/.rvm/bin:/usr/bin:/bin:/usr/sbin:/sbin:/usr/local/bin:/opt/X11/bin:/usr/local/git/bin:/opt/local/bin:/usr/local/mysql/bin
export PATH

source $HOME/git-completion.bash

Updated for git 1.8+