XML 49 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Operating Activities    
Net income (loss) $ 1,277 $ (4,596)
Adjustments to reconcile net income (loss) to cash used in operating activities:    
Depreciation and amortization of premises and equipment 945 728
Provision for (recovery of) loan losses (684) 110
Deferred income taxes 23 1,853
Deferred loan fees and costs, net (279) 367
Premium amortization and discount accretion of investment securities, net 667 1,386
Net gain on sale of investment securities 0 (2,377)
Amortization of core deposit premiums 352 352
Net accretion of purchase accounting adjustments (2,774) (4,419)
Stock compensation expense 401 102
Increase in cash surrender value of bank-owned life insurance, net (270) (276)
Origination of loans held for sale (13,250) (30,954)
Net proceeds from sale of loans held for sale 13,255 33,507
Net gain on sale of loans held for sale (130) (591)
Mortgage servicing rights capitalized (144) (348)
Mortgage servicing rights amortization 109 46
Net gain on sale of premises and equipment (11) 0
Net loss on sales and write-downs of other real estate owned 274 219
Changes in assets and liabilities:    
Decrease in accrued interest receivable and other assets 1,170 994
Increase in accrued interest payable and other liabilities 1,031 2,775
Net cash used in operating activities 1,962 (1,122)
Investing Activities    
Proceeds from sales 0 148,306
Proceeds from maturities, calls and principal repayments 16,871 20,971
Purchases 0 (103,093)
Proceeds from maturities, calls and principal repayments 2,634 0
Purchases 0 (73,524)
Net (increase) decrease in loans held for investment (3,125) 65,979
Proceeds from sales of other real estate owned 2,075 17,614
Purchases of premises and equipment (369) (505)
Proceeds from sales of premises and equipment 25 37
Net cash (used in) provided by investing activities 18,111 75,785
Financing Activities    
Net increase (decrease) in deposits 19,225 (50,595)
Decrease in retail repurchase agreements (1,765) (1,374)
Decrease in Federal Home Loan Bank advances (12) (11)
Net cash used in financing activities 17,448 (51,980)
Net Increase in Cash and Cash Equivalents 37,521 22,683
Cash and Cash Equivalents at Beginning of Period 67,430 239,610
Cash and Cash Equivalents at End of Period 104,951 262,293
Cash paid during the period for:    
Interest 2,204 2,754
Noncash transactions:    
Foreclosed loans transferred to other real estate owned 268 3,969
Loans to facilitate the sale of other real estate owned 1,699 2,625
Unrealized securities gains/(losses), net of income taxes 3,267 (4,423)
Transfer From Fixed Assets to Other Assets 2,136 0
Employee benefit plan costs, net of income taxes 0 (154)
Unrealized gain on interest rate swaps $ 25 $ 0