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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:  
Net income$ 4,769$ 2,660
Adjustments to reconcile net income to net cash provided by operating activities:  
Net increase in deferred loan fees149143
Depreciation917949
Accretion(546)(758)
Amortization2,3361,437
Stock-based compensation149172
Tax benefit from exercise of stock options(117)(28)
Provision for credit losses7502,900
Net other than temporary impairment losses on investment securities31700
Net realized gains on sales and calls of available-for-sale investment securities(249)(32)
Net gain on sale and disposal of equipment 10
Net (gain) loss on sale of other real estate owned(608)14
Write down of other real estate owned and other property 453
Increase in bank owned life insurance, net of expenses(112)(293)
Net gain on bank owned life insurance(85) 
Net (increase) decrease in accrued interest receivable and other assets(724)750
Net decrease in prepaid FDIC Assessments558730
Net increase in accrued interest payable and other liabilities2,278913
Provision (benefit) for deferred income taxes974(456)
Net cash provided by operating activities10,47010,264
CASH FLOWS FROM INVESTING ACTIVITIES:  
Purchases of available-for-sale investment securities(133,308)(21,869)
Proceeds from sales or calls of available-for-sale investment securities43,58016,718
Proceeds from maturity and principal repayments of available-for-sale investment securities24,01119,226
Net decrease (increase) in loans4,704(5,488)
Proceeds from sale of other real estate owned2,1952,555
Purchases of premises and equipment(1,024)(276)
FHLB stock redeemed15790
Proceeds from bank owned life insurance146 
Proceeds from sale of premises and equipment 5
Net cash (used in) provided by investing activities(59,539)10,961
CASH FLOWS FROM FINANCING ACTIVITIES:  
Net increase in demand, interest bearing and savings deposits70,37418,467
Net decrease in time deposits(14,578)(22,117)
Repayments of short-term borrowings to Federal Home Loan Bank(10,000)(5,000)
Proceeds from exercise of stock options680550
Warrant purchase(185) 
Tax benefit from exercise of stock options11728
Cash paid for preferred stock dividends(265)(261)
Net cash provided by (used in) financing activities46,143(8,333)
Decrease in cash and cash equivalents(2,926)12,892
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD100,99948,680
CASH AND CASH EQUIVALENTS AT END OF PERIOD98,07361,572
Cash paid during the year for:  
Interest2,5513,674
Income taxes826301
Non-Cash Investing Activities:  
Net pre-tax change in unrealized gain on available-for-sale investment securities6,2716,871
Non-Cash Financing Activities:  
Redemption of preferred stock Series A and issuance of preferred stock Series C7,000 
Transfer of loans to other real estate owned2443,467
Accrued preferred stock dividends$ 42$ 44