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Supplemental Disclosure of Cash Flow Information
6 Months Ended
Jun. 30, 2012
Supplemental Disclosure of Cash Flow Information

Note 4 – Supplemental Disclosure of Cash Flow Information

 

During the six months ended June 30, 2012 and 2011, cash paid for interest due on interest-bearing liabilities was $2.117 million and $2.942 million, respectively. There was no cash paid for income taxes during the six months ended June 30, 2012, and $1.643 million for the same time frame in 2011. Assets totaling $11.206 million and $2.948 million were acquired in settlement of loans for the six months ended June 30, 2012 and June 30, 2011, respectively. We received $6.886 million in cash from the sale of foreclosed assets during the first half of 2012 relative to $1.887 million during the first half of 2011, which represents sales proceeds less loans extended to finance such sales totaling $3.684 million for the first half of 2012 and $1.381 million for the first half of 2011.