XML 54 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
Cash flows from operating activities:    
Net income $ 1,450 $ 1,609
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for depreciation and net amortization 564 686
Provision for loan losses 140 323
Deferred net loan origination costs (87) (119)
Gain on sale of loans (223) (453)
Provision for (recapture of) mortgage servicing right valuation allowance 2 (123)
Gain on sale of premises and equipment (6)  
Gain on sale of foreclosed assets (4) (19)
Gain on sale of securities   (12)
Increase in cash surrender value of life insurance (99) (98)
Changes in operating assets and liabilities:    
Accrued interest receivable (180) (232)
Other assets 37 435
Other liabilities (1,126) (882)
Net cash provided by operating activities 468 1,115
Proceeds from sale and maturities of:    
Securities available for sale 3,570 18,833
Securities held to maturity 1,690 1,450
Payment for purchase of:    
Securities available for sale (15,397) (13,325)
Securities held to maturity (1,080) (2,890)
Purchase of other investments (1,688)  
Purchase of FHLB stock   (400)
Net (increase) decrease in loans 21,440 (13,740)
Capital expenditures (68) (132)
Proceeds from sale of premises and equipment 5  
Proceeds from sale of foreclosed assets 312 141
Net cash provided by (used in) investing activities 8,784 (10,063)
Cash flows from financing activities:    
Net decrease in non-interest-bearing deposits (16,198) (15,267)
Net increase (decrease) in interest-bearing deposits 5,998 (18,943)
Net increase (decrease) in FHLB advances (7,930) 8,000
Net increase (decrease) in other borrowings (22) 2,401
Repayment of senior subordinated notes   (3,000)
Dividends declared (2)  
Purchase of treasury stock   (238)
Net cash used in financing activities (18,154) (27,047)
Net decrease in cash and cash equivalents (8,902) (35,995)
Cash and cash equivalents at beginning 31,522 48,847
Cash and cash equivalents at end 22,620 12,852
Cash paid during the period for:    
Interest 1,282 1,559
Income taxes 150 48
Noncash investing and financing activities:    
Loans charged off 49 328
Loans transferred to foreclosed assets 235 277
Loans originated on sale of foreclosed assets   107
Issuance of unvested restricted stock grants at fair value 200 210
Vesting of restricted stock grants $ 79 $ 36