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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
OPERATING ACTIVITIES:    
Net income $ 6,814 $ 4,902
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 1,448 1,459
Amortization of premium and accretion of discount on securities, net 720 999
Amortization of restricted stock 721 197
Provision of loan losses 2,475 1,350
Provision for OREO losses 400 930
Provision for deferred taxes (536) 3,182
Stock-based compensation 106 169
Gains on securities, available for sale (177) (527)
Loans originated for sale at fair value (17,004) (56,737)
Proceeds from sales of loans at fair value 16,579 73,646
Gains on loans held for sale at fair value (224) (861)
Net gains on loans held for sale at lower of cost or fair value (176) (522)
Gains on sale of other real estate owned (108) (24)
(Gains)/loss on disposal of fixed assets (9) 49
Increase in cash surrender value of life insurance, net (376) (402)
Increase in accrued interest receivable (772) (108)
Decrease in other assets 4,769 3,678
(Decrease)/Increase in accrued expenses, capital lease obligations and other liabilities (903) 672
NET CASH PROVIDED BY OPERATING ACTIVITIES 13,747 32,052
INVESTING ACTIVITIES:    
Maturities of securities available for sale 52,411 39,332
Calls of securities available for sale    18,115
Sales of securities available for sale 25,167 26,348
Purchase of securities available for sale, including FHLB and FRB stock (32,586) (53,126)
Proceeds from sales of loans held for sale at lower of cost or fair value 68,031 14,271
Net increase in loans (369,607) (136,967)
Sales of other real estate owned 982 1,692
Purchases of premises and equipment (2,326) (499)
Disposal of premises and equipment 14   
NET CASH USED IN INVESTING ACTIVITIES (257,914) (90,834)
FINANCING ACTIVITIES:    
Net increase in deposits 467,918 6,499
Net decrease in overnight borrowings (54,900)   
Proceeds from Federal Home Loan Bank advances 9,000   
Repayments of Federal Home Loan Bank advances    (218)
Cash dividends paid on common stock (1,191) (897)
Exercise of Stock Options 92 3
Sales of shares (DRIP Program) 3,657 1,029
Purchase of shares for Profit Sharing Plan 70   
NET CASH PROVIDED BY FINANCING ACTIVITIES 424,646 6,416
Net increase/(decrease) in cash and cash equivalents 180,479 (52,366)
Cash and cash equivalents at beginning of period 35,147 119,228
Cash and cash equivalents at end of period $ 215,626 $ 66,862