XML 28 R7.htm IDEA: XBRL DOCUMENT v2.3.0.15
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash Flows From Operating Activities  
Net income (loss)$ 3,696$ (3,939)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:  
Depreciation and amortization1,3911,323
Equity in (undistributed earnings) of affiliate(21)145
Provision for loan losses2,56511,350
Net (gain) on securities available for sale(263)(757)
Other than temporary impairment loss22974
Net loss (gain) on disposal of assets45(7)
Premium amortization on securities, net2,0291,583
Origination of loans held for sale(470,006)(555,310)
Proceeds from sales of loans held for sale474,743534,489
Net (gains) on mortgages held for sale(12,286)(11,621)
Share-based compensation247110
Net loss on sale of other real estate owned336185
Valuation adjustment on other real estate owned774760
Decrease in prepaid FDIC insurance9271,418
Changes in assets and liabilities:  
(Increase) in other assets(3,303)(5,226)
Increase in other liabilities1,8511,261
Net cash provided by (used in) operating activities2,747(23,262)
Cash Flows from Investing Activities  
Proceeds from maturity, principal paydowns and calls of securities available for sale42,05039,656
Proceeds from sale of securities available for sale26,15456,502
Purchase of securities available for sale(112,259)(161,152)
Purchase of restricted stock(931)0
Proceeds from disposition of fixed assets570
Purchases of bank premises and equipment(1,430)(546)
Net (increase) in loans(20,641)(19,247)
Proceeds from sale of other real estate owned2,9171,049
Purchase of bank-owned life insurance0(682)
Net cash (used in) investing activities(64,083)(84,420)
Cash Flows from Financing Activities  
Net increase in non-interest-bearing and interest- bearing demand deposits and savings accounts34,08041,664
Net (decrease) increase in certificates of deposit(14,690)49,628
Increase in securities sold under agreements to repurchase5,7248,217
Proceeds from short-term borrowings67,47083,395
Payments on short-term borrowings(67,926)(65,058)
Proceeds from FHLB borrowings40,00017,912
Payments on FHLB borrowings(25,000)0
Distributions to non-controlling interest(644)(254)
Payment of dividends on common stock(1,044)(2,078)
Net proceeds from issuance of common stock029
Net cash provided by financing activities37,970133,455
(Decrease) increase in cash and and cash equivalents(23,366)25,773
Cash and Cash Equivalents  
Beginning64,72443,210
Ending41,35868,983
Cash payments for:  
Interest8,34511,144
Income taxes4500
Supplemental Disclosure of Noncash Transactions  
Unrealized gain on securities available for sale8,6856,367
Change in market value of interest rate swap(596)0
Transfer of loans to other real estate owned2,2663,625
Loans originated from sale of other real estate owned$ 533$ 0