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Consolidated Statements of Cash Flows (USD $)
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Cash flows from operating activities:    
Net income $ 8,584,000 $ 6,602,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of premiums and accretion of discounts on investment securities, net 2,339,000 2,036,000
Depreciation and amortization 421,000 484,000
Stock-based compensation 15,000 19,000
Provision for loan losses 0 1,128,000
Net other-than-temporary impairment losses on investment securities 198,000 237,000
Gains on sales of investment securities, net (1,648,000) (1,804,000)
Loans originated for resale (10,833,000) (2,827,000)
Proceeds from sale of loans held for sale 11,587,000 2,481,000
Gains on sale of loans held for sale (226,000) (32,000)
Increase in accrued interest receivable (246,000) (1,095,000)
Decrease in prepaid FDIC insurance assessments 534,000 1,061,000
Increase in cash surrender value of bank owned life insurance (497,000) (521,000)
(Increase) decrease in other assets (2,533,000) 1,352,000
Increase (decrease) in other liabilities 923,000 (1,277,000)
Net cash provided by operating activities 8,618,000 7,844,000
Cash flows from investing activities:    
Investment securities available-for-sale: Purchases (134,679,000) (213,875,000)
Investment securities available-for-sale: Sales 71,162,000 158,201,000
Investment securities available-for-sale: Maturies, calls and principal repayments 18,184,000 30,180,000
Investment securities held-to-maturity: Purchases (5,866,000) (5,843,000)
Investment securities held-to-maturity: Maturities and principal repayments 16,325,000 0
Net redemption of restricted investment in bank stocks 94,000 402,000
Net (increase) decrease in loans (51,353,000) 10,515,000
Purchases of premises and equipment (288,000) (93,000)
Proceeds from sale of other real estate owned 105,000 0
Net cash used in investing activities (86,316,000) (20,513,000)
Cash flows from financing activities:    
Net increase in deposits 53,234,000 105,344,000
Net increase (decrease) in short-term borrowings 107,000 (9,481,000)
Repayments of long-term borrowings 0 (10,000,000)
Cash dividends on preferred stock (225,000) (250,000)
Cash dividends on common stock (980,000) (978,000)
Redemption of Series A preferred stock 10,041,667  
Issuance cost of common stock (3,000) (3,000)
Proceeds from exercise of stock options 132,000 7,000
Net cash provided by financing activities 52,265,000 84,639,000
Net change in cash and cash equivalents (25,433,000) 71,970,000
Cash and cash equivalents at beginning of period 111,101,000 37,497,000
Cash and cash equivalents at end of period 85,668,000 109,467,000
Supplemental disclosures of cash flow information:    
Cash payments for: Interest paid on deposits and borrowings 6,080,000 6,037,000
Income taxes 3,885,000 2,564,000
Supplemental disclosures of non-cash investing activities:    
Trade date accounting settlement for investments, net 1,545,000 3,761,000
Transfer from investment securities available-for-sale to investment securities held-to-maturity $ 0 $ 35,987,000