XML 25 R7.htm IDEA: XBRL DOCUMENT  v2.3.0.11
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Operating activities    
Net income $ 1,165 $ 113
Adjustments to reconcile net income to cash provided by operating activities:    
Provision for loan losses 1,375 3,700
Depreciation and other amortization 434 442
Accretion and amortization of securities discounts and premium, net 462 337
Gain on sale of investment securities   (1,104)
Other than temporary impairment on investments 25  
Gain on sale of property and equipment   (18)
Loss on sale and write-down of real estate owned 1,061 10
Compensation expense related to stock options and grants 135 119
Increase in cash surrender value of bank owned life insurance (262) (300)
Increase in deferred tax asset (195) (99)
Decrease in other assets, net 547 1,117
Increase (decrease) in other liabilities, net (80) 19
Net cash provided by operating activities 4,667 4,336
Increase (decrease) in cash realized from:    
Origination of loans, net (6,693) (11,492)
Purchase of property and equipment (676) (158)
Purchase of investment securities:    
Available for sale (26,737) (77,694)
Payments and maturity of investment securities:    
Available for sale 5,940 10,746
Held to maturity   1,081
Other investments 196 11
Proceeds from sale of investment securities   66,709
Proceeds from sale of property and equipment   18
Proceeds from sale of real estate owned 1,697 170
Net cash used for investing activities (26,273) (10,609)
Increase (decrease) in cash realized from:    
Increase in deposits, net 20,153 42,247
Decrease in note payable   (250)
Decrease in Federal Home Loan Bank advances and related debt   (20,000)
Cash dividend on preferred stock (432) (433)
Cash in lieu of fractional shares (1)  
Proceeds from the exercise of stock options and warrants 77 295
Net cash provided by financing activities 19,797 13,859
Net increase (decrease) in cash and cash equivalents (1,809) 15,586
Cash and cash equivalents at beginning of the period 53,850 12,082
Cash and cash equivalents at end of the period 52,041 27,668
Cash paid for    
Interest 6,160 7,412
Income taxes 710  
Schedule of non-cash transactions    
Real estate acquired in settlement of loans 63 1,947
Unrealized gain on securities, net of income taxes $ 595 $ 713