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
Dec. 31, 2009
Cash flows from operating activities:      
Net income $ 7,817 $ 6,485 $ 5,049
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of premises and equipment 837 719 696
Amortization of intangibles 366 258 258
Provision for loan losses 1,794 2,202 1,735
(Gain) loss on sale of other real estate (1,671) 56 13
(Gain) loss on disposal of equipment 88   (5)
Net amortization of investment securities available-for-sale 761 290 227
Amortization of deferred loan costs 222 261 261
Net loss (gain) on sale of investment securities available-for-sale (25) (346) 492
Other-than-temporary impairment of investment equity securities 87 164 206
Net income from investment in life insurance (378) (322) (342)
Life insurance proceeds   (320)  
Deferred income tax expense (benefit) (183) (188) 1,514
Net change in:      
Loans held for sale (539) 740 (1,338)
Accrued interest receivable (445) (423) (54)
Other assets (1,597) 641 (3,568)
Accrued interest payable (27) (135) (1,203)
Other liabilities 1,540 1,126 224
Net cash provided by operating activities 8,647 11,208 4,165
Cash flows from investing activities:      
Proceeds from sale of investment securities available-for-sale 22,497 64,439 62,172
Proceeds from repayment on investment securities available-for-sale 3,459 19,605 8,274
Purchases of investment securities available-for-sale (38,119) (73,261) (90,505)
Net (increase) decrease in restricted stock 268 228 (212)
Net increase in loans (52,693) (57,118) (20,510)
Purchases of premises and equipment (603) (1,448) (658)
Proceeds from investment in life insurance   549  
Purchases of investment in life insurance (2,000)    
Proceeds from sale of other real estate 2,254 2,270 116
Purchase premium on investment advisory service   (750)  
Net cash used in investing activities (64,937) (45,486) (41,323)
Cash flows from financing activities:      
Net increase in deposits 55,549 28,696 38,770
Repayment of long-term debt (8,409) (11,414) (941)
Net increase in short-term borrowings 5,067 18,285 2,007
Repurchase of common shares (835)    
Reissuance of common shares 159 117 85
Cash dividends paid (2,523) (2,480) (2,381)
Net cash provided by financing activities 49,008 33,204 37,540
Net increase (decrease) in cash and cash equivalents (7,282) (1,074) 382
Cash and cash equivalents at beginning of year 17,841 18,915 18,533
Cash and cash equivalents at end of year 10,559 17,841 18,915
Cash paid during the period for:      
Interest 5,666 6,633 8,461
Income taxes 2,575 354 815
Noncash items:      
Transfers of loans to other real estate 595 179 492
Loans to facilitate sale of other real estate $ 3,000