XML 55 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Operating activities      
Net income $ 3,862 $ 2,088 $ 890
Adjustments to reconcile net income to cash provided by operating activities:      
Provision for loan losses 4,550 5,270 5,610
Depreciation and other amortization 979 884 853
Accretion and amortization of securities discounts and premiums, net 850 1,066 1,092
Loss on sale of real estate owned 458 318 102
Write-down of real estate owned 419 782 569
Gain on sale of real estate held for investment    (150)   
Gain on sale of investment securities:      
Available for sale (363) (23) (811)
Held to maturity       (345)
Other-than-temporary impairment on investment securities    25 450
Loss (gain) on sale of property and equipment    27 (18)
Compensation expense related to stock options and restricted stock grants 342 276 246
Increase in cash surrender value of bank owned life insurance (632) (565) (554)
Decrease (increase) in deferred tax asset (297) (853) 1,100
Decrease in other assets, net 1,017 729 1,750
Increase (decrease) in other liabilities, net 690 1,316 (144)
Net cash provided by operating activities 11,875 11,190 10,790
Increase (decrease) in cash realized from:      
Origination of loans, net (53,279) (31,878) (6,539)
Purchase of property and equipment (2,370) (2,369) (326)
Purchase of investment securities:      
Available for sale (35,014) (81,591) (112,858)
Other investments       (750)
Payment and maturity of investment securities:      
Available for sale 12,031 14,374 21,904
Held to maturity       1,110
Other investments 130 1,146 138
Proceeds from sale of investment securities:      
Available for sale 45,143 31,914 100,939
Held to maturity       8,358
Other investments       755
Purchase of life insurance policies    (3,000)   
Proceeds from sale of property and equipment       18
Proceeds from sale of property held for investment    1,793   
Proceeds from sale of other real estate owned 2,670 1,749 837
Net cash provided by (used for) investing activities (30,689) (67,862) 13,586
Increase (decrease) in cash realized from:      
Increase in deposits, net 13,387 26,616 42,212
Increase (decrease) in note payable 1,400    (4,250)
Increase (decrease) in Federal Home Loan Bank advances and other borrowings 13,190    (20,000)
Redemption of preferred stock (1,100)      
Redemption of CPP warrant (904)      
Cash dividend on preferred stock (845) (865) (865)
Cash in lieu of fractional shares (2) (1)   
Proceeds from the exercise of stock options and warrants 96 77 295
Net cash provided by financing activities 25,222 25,827 17,392
Net increase (decrease) in cash and cash equivalents 6,408 (30,845) 41,768
Cash and cash equivalents, beginning of year 23,005 53,850 12,082
Cash and cash equivalents, end of year 29,413 23,005 53,850
Cash paid for      
Interest 8,669 11,897 15,639
Income taxes 2,129 1,685   
Schedule of non-cash transactions      
Foreclosure of real estate 1,580 907 3,433
Unrealized (gain) loss on securities, net of income taxes $ (137) $ (1,723) $ 1,641