XML 14 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Cash flows from operating activities:    
Net Income $ 2,939 $ 2,160
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 825 700
Depreciation and amortization 435 451
Net amortization on securities 958 564
Amortization of core deposit intangible 18  
Share based compensation expense 366 259
Net securities gains (272)  
Increase in accrued interest receivable (830) (256)
Decrease (increase) in other assets 42 (764)
Increase in accrued expenses and other liabilities 382 941
Net cash provided by operating activities 4,863 4,055
Cash flows from investing activities:    
Purchases of securities available for sale (133,659) (27,664)
Purchases of securities, restricted (360)  
Purchases of securities held to maturity (17,168) (6,178)
Proceeds from sales of securities available for sale 3,344  
Maturities, calls and principal payments of securities available for sale 63,660 23,993
Maturities, calls and principal payments of securities held to maturity 8,605 13,337
Net increase in loans (29,087) (18,796)
Purchase of premises and equipment (692) (225)
Net cash used in investing activities (105,357) (15,533)
Cash flows from financing activities:    
Net increase in deposits 14,297 48,953
Net increase (decrease) in federal funds purchased and FHLB overnight borrowings 36,000 (5,000)
Net decrease in repurchase agreements (5,359) (38)
Net proceeds from issuance of common stock 2,088 845
Repurchase of surrendered stock from exercise of stock options and vesting of restricted stock awards (88) (61)
Excess tax (expense) benefit from share based compensation (10) (1)
Cash dividends paid (1,923) (1,467)
Net cash provided by financing activities 45,005 43,231
Net (decrease) increase in cash and cash equivalents (55,489) 31,753
Cash and cash equivalents at beginning of period 79,546 22,918
Cash and cash equivalents at end of period 24,057 54,671
Cash paid for:    
Interest 1,962 1,878
Income tax 90  
Noncash investing and financing activities:    
Securities which settled in the subsequent period 894 750
Dividends declared and unpaid at end of period   $ 1,477