XML 23 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Operating Activities:    
Net Income $ 4,813 $ 3,539
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan and lease losses 1,217 1,485
Depreciation 934 936
Amortization of intangibles 46 97
Net amortization of securities premiums 925 2,082
Gain on sales of investment securities (150) (220)
Earnings on cash surrender value of life insurance (152) (174)
SBA loans originated for sale (943)  
Proceeds from sales of SBA loans originated for sale 1,040  
Gain on sale of SBA loans (97)  
Loss (gain) on disposal of property, plant, and equipment 8 (8)
(Gain) loss on sale/write-down of foreclosed assets 109 (376)
Deferred income tax expense (benefit) 71 (1,223)
(Increase) decrease in accrued interest receivable (296) 209
(Increase) decrease in other assets (94) 1,503
Increase in accrued interest payable 253 183
(Decrease) increase in other liabilities (621) 1,949
Net Cash Provided by Operating Activities 7,063 9,982
Investing Activities:    
Net decrease in interest-bearing time deposits with other financial institutions 1,741 15,702
Proceeds from the maturity of investment securities 10,497 31,777
Proceeds from the sale of investment securities 7,199 15,118
Purchases of investment securities (40,511) (18,376)
(Purchases) redemptions of restricted investment in bank stocks (426) 608
Net increase in loans and leases (23,613) (48,175)
Purchases of bank premises and equipment (776) (564)
Proceeds from sale of foreclosed assets 798 1,820
Net Cash Used In Investing Activities (45,091) (2,090)
Financing Activities:    
Net increase in demand deposits and savings accounts 44,069 16,475
Net decrease in time deposits (6,202) (21,082)
Net (decrease) increase in short-term borrowings (1,979) 9,245
Common stock dividend paid (874) (349)
Employee Stock Purchase Plan 38 43
Warrant repurchase   (58)
Proceeds from long-term debt borrowings 10,000  
Repayment of long-term debt (137) (14,320)
Net Cash Provided By (Used In) Financing Activities 44,652 (10,148)
Net increase (decrease) in cash and cash equivalents 6,624 (2,256)
Cash and cash equivalents, beginning of year 8,623 15,473
Cash and cash equivalents, end of year 15,247 13,217
Supplemental Disclosures of Cash Flow Information:    
Interest paid 3,063 3,758
Income taxes paid 870 550
Supplemental Noncash Disclosures:    
Loan transfers to foreclosed assets held for sale 791 2,648
Series B Preferred Stock [Member]
   
Financing Activities:    
Preferred Stock issuance   120
Preferred stock dividend paid $ (263) $ (222)