XML 86 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:      
Net income $ 5,721 $ 10,589 $ 10,531
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of premises and equipment 924 855 1,050
Amortization of intangibles (326) (267) (304)
Amortization of purchase accounting adjustments on tangible assets (70) (285) (345)
Provision for loan losses 2,361 924 2,381
Net loss on sale of other real estate owned 91 5 262
Net loss on disposal of equipment 438    
Net amortization of investment securities 737 383 494
Net gain on sale of investment securities (163) (317) (666)
Other-than-temporary impairment of investment securities     78
Life insurance investment income (968) (504) (490)
Deferred income tax expense (benefit) (1,143) 353 217
Stock based compensation 25 40  
Net change in:      
Loans held for sale (421)    
Accrued interest receivable 621 390 557
Other assets 1,406 607 1,221
Accrued interest payable (466) (294) (118)
Other liabilities 1,048 123 (931)
Net cash provided by operating activities 9,815 12,602 13,937
Cash flows from investing activities:      
Proceeds from sales of investment securities available-for-sale 4,573 5,821 15,318
Proceeds from repayments of investment securities:      
Available-for-sale 24,221 47,500 23,325
Held-to-maturity 5,405 7,730 19,883
Purchases of investment securities:      
Available-for-sale (15,262) (46,297) (28,312)
Held-to-maturity (6,873)    
Net increase (decrease) in lending activities (50,746) 7,268 (19,420)
Purchases of premises and equipment (614) (2,897) (739)
Proceeds from investment in life insurance 1,226    
Purchases of investment in life insurance   (1,242)  
Proceeds from sale of other real estate owned 761 1,778 1,141
Net cash received from acquisition 22,392    
Net cash provided by (used in) investing activities (14,917) 19,661 11,196
Cash flows from financing activities:      
Net increase in deposits 28,949 1,390 29,348
Repayment of long-term debt (11,166) (12,823) (10,615)
Net decrease in short-term borrowings (3,704) (1,962) (18,101)
Cash dividends paid (5,511) (5,504) (5,504)
Net cash provided by (used in) financing activities 8,568 (18,899) (4,872)
Net increase in cash and cash equivalents 3,466 13,364 20,261
Cash and cash equivalents at beginning of year 47,844 34,480 14,219
Cash and cash equivalents at end of year 51,310 47,844 34,480
Cash paid during the period for:      
Interest 4,635 5,656 7,457
Income taxes 2,700 2,260 2,315
Noncash items:      
Transfers of loans to other real estate 273 867 1,647
Assets acquired excluding cash:      
Investment securities available-for-sale 156,435    
Restricted equity securities 997    
Loans, net 504,002    
Accrued interest receivable 3,625    
Premises and equipment 11,737    
Core deposit and other intangible assets 6,323    
Other assets 18,647    
Assets acquired excluding cash, net 701,766    
Liabilities assumed:      
Deposits 628,304    
Short-term borrowings 17,737    
Long-term debt 2,516    
Accrued interest payable 473    
Other liabilities 5,976    
Liabilities assumed, net $ 655,006