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Consolidated Statements of Cash Flows (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash Flows from Operating Activities      
Net loss $ (7,288,946) $ (536,164) $ (15,459,486)
Adjustments to reconcile net loss to net cash used in operating activities      
Restructuring charges and asset disposal (163,417) (63,680) 951,659
Amortization and accretion of investment premiums and discounts, net 186,605 310,830 409,511
Amortization and accretion of purchase loan premiums and discounts, net 19,469 11,477 11,301
Amortization of core deposit intangible 0 6,962 15,012
Provision for loan losses 970,214 (2,379,223) 7,464,427
Net gain on sale of investment securities   (910,591) (1,109,305)
Gain on sale of loans (28,310) (336,274) (79,729)
Gain on sale of mortgage loans (254,796) (83,823)  
Originations of mortgage loans held for sale (35,647,133) (5,206,497)  
Proceeds from sales of mortgage loans held for sale 37,429,228 3,763,021  
Loss on disposal of fixed assets   16,406 4,644
Gain on sale of other real estate owned (113,963) (185,143) (193,786)
Impairment write-down on other real estate owned     165,764
Proceeds from sale of branch assets and deposits 126,875    
Gain on sale of branch assets and deposits (50,643)    
Depreciation and amortization of premises and equipment 1,215,278 1,215,774 1,272,660
Share-based compensation expense 130,686 306,421 0
Earnings on cash surrender value of bank owned life insurance (523,067) (517,099) (636,272)
Change in assets and liabilities:      
(Increase) decrease in net deferred loan costs (131,616) 183,914 (472,515)
Decrease in accrued interest and dividends receivable 327,877 558,887 59,007
Decrease (increase) in other assets 737,075 (167,488) 6,276,762
(Decrease) increase in accrued expenses and other liabilities (1,637,666) 858,272 344,279
Net cash used in operating activities (4,696,250) (3,154,018) (976,067)
Cash Flows from Investing Activities      
Purchases of available for sale securities   (44,485,312) (65,459,630)
Purchases of other investments (950,000)    
Proceeds from sale of available for sale securities 0 45,226,033 26,349,070
Proceeds from redemptions of available for sale securities   15,999,814  
Principal repayments on available for sale securities 3,262,509 7,775,420 12,029,209
Purchase of Federal Reserve Bank stock   (48,850) (1,174,100)
Proceeds from repurchase of excess stock by the Federal Reserve Bank 285,900 25,650 659,100
Proceeds from repurchase of excess stock by the Federal Home Loan Bank 201,200 164,500  
Proceeds from sale of loans 10,655,482 99,737,524 55,089,794
Net decrease (increase) in loans 25,462,402 (60,645,644) (34,363,332)
Purchase of other real estate owned     (481,165)
Capital improvements to other real estate owned (80,401) (111,463) (20,000)
Proceeds from sale of other real estate owned 5,068,208 3,347,391 19,579,304
Purchases of premises and equipment, net (8,278,760) (615,519) (685,029)
Net cash provided by investing activities 35,626,540 66,369,544 11,523,221
Cash Flows from Financing Activities      
Net (decrease) increase in demand, savings and money market deposits (17,298,660) 13,234,388 (17,785,483)
Net decrease in time certificates of deposit (35,241,951) (60,860,883) (84,113,953)
Decrease in deposits held for sale (14,538,205)    
Increase in FHLB borrowings 7,000,000    
Decrease in repurchase agreements (7,000,000)    
Net cash used in financing activities (67,078,816) (47,626,495) (101,899,436)
Net (decrease) increase in cash and cash equivalents (36,148,526) 15,589,031 (91,352,282)
Cash and cash equivalents at      
Beginning of year 71,014,407 55,425,376 146,777,658
End of year 34,865,881 71,014,407 55,425,376
Supplemental Disclosures of Cash Flow Information      
Interest paid 4,706,226 7,127,255 8,290,544
Income taxes paid 2,750 10,319 10,534
Supplemental Disclosure of Noncash Investing and Financing Activities      
Unrealized holding losses on available for sale securities arising during the period (568,850) (834,456) (1,875,874)
Transfer of loans to other real estate owned   6,111,989 5,403,970
Transfer of loans to premises and equipment 3,697,572    
Transfer of other real estate owned to premises and equipment   950,000  
Transfer of loans to held for sale     250,000
Transfer of deposits to held for sale 10,167,176 24,705,381  
Transfer of branch assets held for sale $ 12,012 $ 88,244