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Condensed Consolidated Statements of Cash Flows (unaudited) (USD $)
6 Months Ended 30 Months Ended
Jun. 30, 2011
Jun. 30, 2012
Operating activities:    
Net loss $ (1,190,000) $ (5,118,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 966,000 878,000
Provision for loan losses 9,925,000 10,100,000
Deferred income tax benefit (2,503,000) 0
Amortization of intangible assets and other purchase accounting adjustments, net 368,000 274,000
Amortization of premiums and discounts on investment securities, net 767,000 1,958,000
Gains on sales of securities available-for-sale, net (2,682,000) (5,652,000)
Gain on sale of land held-for-sale 0 (75,000)
Compensation expense for vested stock options 33,000 40,000
Forfeiture of stock options 0 (6,000)
Sales of treasury stock 21,000 8,000
Loss on sales of other real estate owned, net 1,069,000 72,000
Loans originated for sale (27,245,000) (31,545,000)
Proceeds from sales of loans originated for sale 30,145,000 31,429,000
Increase in accrued interest payable 140,000 569,000
Decrease in accrued interest receivable 1,366,000 2,653,000
Decrease in other assets 595,000 763,000
Increase (decrease) in other liabilities 803,000 (2,068,000)
Net cash provided by operating activities 12,578,000 4,280,000
Investing activities:    
Proceeds from sales of investment securities available-for-sale 83,036,000 83,670,000
Proceeds from maturities of investment securities available-for-sale 10,622,000 24,703,000
Purchase of investment securities available-for-sale (78,445,000) (71,466,000)
Proceeds from maturities of investment securities held-to-maturity 1,267,000 2,059,000
Proceeds from sale of land held-for-sale 0 155,000
Proceeds from sales of other real estate owned 3,245,000 14,473,000
Proceeds from sale of Federal Reserve stock 0 1,221,000
Net decrease in loans 23,895,000 68,493,000
Purchases of premises and equipment (277,000) (457,000)
Net cash provided by investing activities 43,343,000 122,851,000
Financing activities:    
Net decrease in deposits (23,546,000) (40,124,000)
Net decrease in short-term borrowings (2,272,000) (9,092,000)
Award of nonvested stock from treasury stock 0 19,000
Net cash used in financing activities (25,818,000) (49,197,000)
Increase in cash and cash equivalents 30,103,000 77,934,000
Cash and cash equivalents at beginning of period 43,880,000 63,295,000
Cash and cash equivalents at end of period 73,983,000 141,229,000
Cash paid during the period for:    
Interest 3,616,003 1,786,000
Income taxes 896,000 16,000
Supplemental disclosures of non-cash flow activities:    
Loans transferred to other real estate owned 1,970,000 13,838,000
Interest expense 3,756,009  
less accrued interest payable 6/30/11 1,475,021 1,447,000
Cash paid during the period for interest $ 3,616,003 $ 1,786,000