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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
OPERATING ACTIVITIES:    
Net Income $ 5,806 $ 4,309
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 1,481 1,432
Amortization of premium and accretion of discount on securities, net 1,147 1,390
Amortization of restricted stock 221 124
Provision for loan losses 3,000 4,000
Provision for deferred taxes    445
Stock-based compensation 169 212
Gains on security sales, available for sale (497) (473)
Loans originated for sale (33,273) (15,616)
Proceeds from sales of loans 34,322 14,050
Gains on loans sold (467) (247)
Loss/(gains) on sale of other real estate owned 84 (47)
(Gain) on disposal of fixed assets (7)   
Increase in cash surrender value of life insurance, net (396) (463)
Decrease/(increase) in accrued interest receivable 631 (153)
(Increase)/Decrease in other assets (24) 324
(Increase) in accrued expenses and other liabilities (70) (284)
NET CASH PROVIDED BY OPERATING ACTIVITIES 12,127 9,003
INVESTING ACTIVITIES:    
Proceeds from maturities of investment securities held to maturity 20,588 12,761
Proceeds from maturities of securities available for sale 45,261 30,320
Proceeds from calls of investment securities held to maturity 136 10,105
Proceeds from calls of securities available for sale 14,848 40,000
Proceeds from sales of securities available for sale 22,393 33,246
Purchase of investment securities held to maturity (2,821) (23,421)
Purchase of securities available for sale, including FHLB and FRB stock (20,317) (81,627)
Net increase in loans (61,430) (31,723)
Proceeds from sales of other real estate owned 1,836 1,238
Purchases of premises and equipment (512) (710)
Purchase of life insurance (2,996)   
NET CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES 16,986 (9,811)
FINANCING ACTIVITIES:    
Net (decrease)/increase in deposits (20,807) 10,165
Net increase in overnight borrowings      
Repayments of Federal Home Loan Bank advances (1,229) (3,221)
Redemption of preferred stock (14,341) (7,172)
Repurchase of warrants (109)   
Cash dividends paid on preferred stock (112) (465)
Cash dividends paid on common stock (887) (882)
Sales of shares (DRIP Program) 82 80
NET CASH (USED IN)/PROVIDED BY FINANCING ACTIVITIES (37,403) (1,495)
Net decrease in cash and cash equivalents (8,290) (2,303)
Cash and cash equivalents at beginning of period 43,053 62,687
Cash and cash equivalents at end of period $ 34,763 $ 60,384