XML 28 R5.htm IDEA: XBRL DOCUMENT  v2.3.0.11
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income $ 9,509 $ 6,659
Adjustments to Reconcile Net Income to Net Cash from Operating Activities:    
Net Amortization on Securities 888 278
Depreciation and Amortization 2,685 1,812
Loans Originated for Sale (42,261) (40,891)
Proceeds from Sales of Loans Held-for-Sale 48,802 36,646
Loss in Investment in Limited Partnership 8 33
Provision for Loan Losses 2,600 2,500
Gain on Sale of Loans, net (788) (817)
Gain on Securities, net (1,045)  
Gain on Sales of Other Real Estate and Repossessed Assets (103) (237)
Loss (Gain) on Disposition and Impairment of Premises and Equipment 13 (55)
Increase in Cash Surrender Value of Company Owned Life Insurance (604) (392)
Equity Based Compensation 307 200
Change in Assets and Liabilities:    
Interest Receivable and Other Assets 6,017 2,218
Interest Payable and Other Liabilities (2,211) (202)
Net Cash from Operating Activities 23,817 7,752
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from Maturity of Other Short-term Investments 3,882  
Proceeds from Maturities, Calls, Redemptions of Securities Available-for-Sale 38,241 25,873
Redemption of Federal Reserve Bank Stock 694  
Purchase of Securities Available-for-Sale (141,180) (69,406)
Proceeds from Maturities of Securities Held-to-Maturity 161 889
Proceeds from Redemption of Federal Home Loan Bank Stock 1,523  
Purchase of Loans   (175)
Proceeds from Sales of Loans 893 3,711
Loans Made to Customers, net of Payments Received 25,773 472
Proceeds from Sales of Other Real Estate 2,641 1,889
Property and Equipment Expenditures (2,359) (652)
Proceeds from Sales of Property and Equipment 12 491
Net Cash from Investing Activities (13,939) (36,053)
CASH FLOWS FROM FINANCING ACTIVITIES    
Change in Deposits 131,374 30,090
Change in Short-term Borrowings (44,202) 10,535
Repayments of Long-term Debt (5,039) (796)
Issuance of Common Stock 12 32
Dividends Paid (3,521) (3,105)
Net Cash from Financing Activities 78,624 36,756
Net Change in Cash and Cash Equivalents 88,502 8,455
Cash and Cash Equivalents at Beginning of Year 19,271 28,054
Cash and Cash Equivalents at End of Period 107,773 36,509
Cash Paid During the Period for    
Interest 8,918 7,858
Income Taxes 3,981 2,678
Supplemental Non Cash Disclosures    
Loans Transferred to Other Real Estate 1,608 [1] 1,112 [1]
Acquisition of Bank Branches
   
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash Acquired From Acquisition   855
Acquisition of American Community Bancorp, Inc.
   
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash Acquired From Acquisition $ 55,780  
[1] See Note 9 for non-cash transactions included in the acquisition of American Community Bancorp, Inc.