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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities:  
Net earnings$ 3,382$ 2,279
Adjustments to reconcile net earnings to net cash provided by operating activities:  
Depreciation, amortization and accretion3,9153,519
Provision for loan losses9,69610,217
Gain on sale of investment securities(2,495)(1,791)
Write-down of investment securities0100
Loss/(Gain) on sale of other real estate and repossessions181(198)
Write-down of other real estate and repossessions845895
Restricted stock expense57
Change in:  
Mortgage loans held for sale1,666726
Cash surrender value of life insurance(182)(193)
Other assets1,546(643)
Other liabilities438(357)
Net cash provided by operating activities18,99714,561
Cash flows from investing activities:  
Net change in certificates of deposit7352,610
Purchases of investment securities available for sale(158,631)(133,646)
Proceeds from calls, maturities and paydowns of investment securities available for sale39,81377,070
Proceeds from sale of investment securities available for sale72,29228,077
Purchases of other investments(215)0
Proceeds from sale of other investments197393
Net change in loans36,65922,338
Purchases of premises and equipment(775)(1,148)
Purchases of bank owned life insurance(5,000)0
Proceeds from sale of other real estate and repossessions2,6564,681
Net cash (used) provided by investing activities(12,269)375
Cash flows from financing activities:  
Net change in deposits2,32932,962
Net change in demand notes payable to U.S. Treasury(504)(284)
Net change in securities sold under agreement to repurchase13,6074,634
Proceeds from FHLB borrowings5,0000
Repayments of FHLB borrowings(5,000)(7,000)
Restricted stock payout90
Cash dividends paid on Series A preferred stock(940)(940)
Cash dividends paid on common stock(333)(337)
Net cash provided by financing activities14,16829,035
Net change in cash and cash equivalent20,89643,971
Cash and cash equivalents at beginning of period23,97731,340
Cash and cash equivalents at end of period44,87375,311
Cash paid during the year for:  
Interest8,61311,146
Income taxes1321,700
Noncash investing and financing activities:  
Change in unrealized gain on investment securities available for sale, net(4,370)(2,578)
Change in unrealized gain on derivative financial instruments, net395445
Transfer of loans to other real estate and repossessions7,0416,189
Financed portion of sale of other real estate4,0471,703
Accretion of Series A preferred stock$ 106$ 106