XML 79 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Operating Activities      
Net income $ 6,107,000 $ 5,003,000 $ 5,365,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 7,242,000 10,353,000 10,225,000
Depreciation and amortization 1,147,000 1,228,000 1,357,000
Amortization (accretion) of premiums and discounts 2,738,000 1,390,000 2,206,000
Amortization of intangibles 137,000 137,000 137,000
Amortization of loan servicing rights 304,000 201,000 262,000
Amortization of deferred loan fees (294,000) (54,000) 162,000
Federal deferred income tax expense (benefit) 372,000 (43,000) 469,000
Securities gains, net (189,000) (832,000) (393,000)
Share-based compensation expense 310,000 189,000 102,000
Loans originated for sale (90,475,000) (69,066,000) (80,175,000)
Proceeds from sales of loan originations 87,864,000 71,612,000 79,853,000
Net gain from loan sales (1,575,000) (889,000) (1,000,000)
Net loss on sale of other assets 92,000 293,000 116,000
Net gain on extinguishment of debt 0 0 2,210,000
Net decrease (increase) in accrued interest receivable and other assets (243,000) 5,372,000 249,000
Net increase (decrease) in accrued interest payable, taxes and other liabilities (448,000) 230,000 (4,477,000)
Net cash provided by operating activities 13,089,000 25,124,000 12,248,000
Investing Activities      
Proceeds from sales of available-for-sale securities 25,462,000 36,427,000 15,499,000
Proceeds from maturities of available-for-sale securities 122,244,000 111,809,000 118,569,000
Purchase of available-for-sale securities (129,101,000) (152,265,000) (111,777,000)
Proceeds from maturities of trading securities 0 0 436,000
Proceeds from sale of trading securities 0 0 7,774,000
Purchase of Federal Reserve Bank Stock 0 0 (756,000)
Net increase in loans made to customers (46,676,000) (42,419,000) (25,395,000)
Proceeds from the sale of other real estate owned 1,070,000 3,651,000 584,000
Purchase of bank premises and equipment (900,000) (774,000) (906,000)
Proceeds from sale of bank premises and equipment 0 257,000 11,000
Net cash provided by (used in) investing activities (27,901,000) (43,314,000) 4,039,000
Financing Activities      
Net increase (decrease) in demand and other noninterest-bearing 13,181,000 11,237,000 (3,029,000)
Net increase in savings, money market and interest-bearing demand 17,310,000 41,543,000 13,389,000
Net decrease in certificates of deposit (21,979,000) (40,226,000) (3,267,000)
Net increase (decrease) in short-term borrowings 888,000 (705,000) (525,000)
Proceeds from Federal Home Loan Bank advances 57,500,000 24,500,000 34,000,000
Payment of Federal Home Loan Bank advances (52,472,000) (24,504,000) (34,004,000)
Deferred FHLB prepayment penalty (1,017,000) 0 0
Extinguishment of debt, net 0 0 (10,000)
Repurchase of warrants (860,000) 0 0
Redemption Preferred stock (6,159,000) 0 0
Dividends paid (1,568,000) (1,576,000) (1,565,000)
Net cash provided by financing activities 4,824,000 10,269,000 4,989,000
Net increase (decrease) in cash and cash equivalents (9,988,000) (7,921,000) 21,276,000
Cash and cash equivalents, January 1 40,647,000 48,568,000 27,292,000
Cash and cash equivalents, December 31 30,659,000 40,647,000 48,568,000
Supplemental cash flow information      
Interest paid 7,745,000 10,424,000 13,404,000
Income taxes paid 2,006,000 960,000 675,000
Transfer of loans to other real estate owned 1,173,000 3,120,000 2,970,000
Common stock issued for extinguishment of debt $ 0 $ 0 $ 2,040,000