XML 39 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities    
Net income $ 10,028 $ 7,077
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of premiums on securities available for sale 4,894 5,996
Depreciation and amortization 2,069 2,076
Provision for loan losses (2,900) (1,400)
Stock based compensation 79 125
Net change in loans held for sale (2,228) 6,214
Net (gain) loss on disposal of other real estate owned (269) 144
Writedown of other real estate owned 154 29
Net loss on disposal of premises and equipment 41 0
Investment securities gains (1,668) (279)
Earnings on cash surrender value of life insurance (710) (721)
(Increase) decrease in accrued interest receivable 249 (118)
Increase (decrease) in accrued interest payable and other liabilities 5,474 (253)
Other, net 801 (2,579)
Net cash provided by operating activities 16,014 16,311
Cash flows from investing activities    
Proceeds from sales of available for sale securities 151,454 25,519
Maturities, repayments and calls of available for sale securities 32,201 68,080
Purchases of available for sale securities (175,014) (155,841)
Net change in restricted investments in bank stocks 587 1,767
Net (increase) decrease in loans (19,344) 19,214
Proceeds from sale of loans 5,743 0
Purchases of bank premises and equipment (743) (1,218)
Proceeds from disposal of other real estate owned 2,175 1,079
Net cash used in investing activities (2,941) (41,400)
Cash flows from financing activities    
Net decrease in deposits (11,156) (50,106)
Net increase (decrease) in short term purchased funds (2,753) 15,670
Proceeds from long-term debt 10,000 0
Payments on long-term debt (11,091) (21,039)
Dividends paid 0 0
Net proceeds from issuance of common stock 104 252
Net cash used in financing activities (14,896) (55,223)
Net increase (decrease) in cash and cash equivalents (1,823) (80,312)
Cash and cash equivalents at beginning of period 37,560 150,688
Cash and cash equivalents at end of period 35,737 70,376
Supplemental disclosures of cash flow information:    
Interest 3,262 3,974
Income taxes 0 0
Supplemental schedule of noncash investing activities:    
Other real estate acquired in settlement of loans 2,201 341
Security purchases not yet settled $ 0 $ 34,578