XML 27 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Cash Flows From / (Used In) Operating Activities:    
Net income (loss) $ (1,744) $ 5,642
Adjustments to reconcile net income to net cash from operating activities:    
Accretion of discounts, amortization and depreciation 6,645 5,041
Provision for loan losses 19,509 7,179
Stock based compensation expense 505 170
Benefit for deferred income taxes (1,022) (177)
Net gain from sale of loans (1,975) (2,107)
Gain on securities (2,396) (768)
Other than temporary impairment losses 104 215
Net loss from real estate owned 495 288
Loan fees deferred/(recognized), net (37) 169
Proceeds from sale of loans held for sale 83,813 90,039
Origination of loans held for sale (80,636) (89,523)
(Increase)/decrease in accrued interest and other assets (771) 3,258
Increase/(decrease) in other liabilities (121) 1,956
Net Cash From Operating Activities 22,369 21,382
Cash Flows From / (Used In) Investing Activities:    
Net principal received/(disbursed) on loans 12,797 (16,894)
Net change in interest bearing time deposits 0 410
Proceeds from:    
Maturities/repayments of securities held to maturity 0 415
Maturities/repayments of securities available for sale 68,500 122,432
Sale of securities available for sale 125,283 159,626
Real estate owned and other assets 6,941 10,117
Sale of Federal Home Loan Bank stock 944 822
Purchases of:    
Loans (359) (748)
Securities held to maturity 0 (50)
Securities available for sale (148,957) (355,481)
Acquisition of premises and equipment (1,686) (2,745)
Disposal of premises and equipment 0 256
Net Cash From / (Used In) Investing Activities 63,463 (81,840)
Cash Flows From / (Used In) Financing Activities:    
Net increase in deposits 10,000 13,038
Proceeds from advances from FHLB 0 83,012
Repayment of advances from FHLB (55,000) (83,012)
Prepayment penalty on modification of FHLB advances 0 (2,456)
Net proceeds from/(net repayment of) overnight borrowings (12,088) 12,088
Payment of dividends on preferred stock (1,075) (1,075)
Payment of dividends on common stock (137) (135)
Net Cash From /(Used In) Financing Activities (58,300) 21,460
Net increase/(decrease) in cash and cash equivalents 27,532 (38,998)
Cash and cash equivalents, beginning of period 13,063 52,061
Cash and Cash Equivalents, End of Period 40,595 13,063
Supplemental Information:    
Cash paid for interest 9,281 13,723
Cash paid for income taxes, net of refunds 1,075 618
Non Cash Items:    
Assets acquired through foreclosure 8,783 2,167
Transfer to securities available for sale from held to maturity 0 3,273
Securities trades not settled $ 1,040 $ 3,904