XML 27 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 2,064 $ 2,412
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of intangible assets 344 235
Provision for loan losses 639 431
Depreciation and amortization of fixed assets 886 749
Amortization of premiums on securities, net 614 538
Gains on sales of loans held for sale, net (41) (112)
Proceeds from sales of loans held for sale 1,804 3,455
Loans originated and held for sale (1,143) (3,071)
Net gains on trading assets (12) (19)
Purchase of trading assets (35) (17)
Net losses on sales of other real estate owned 30 0
Decrease (increase) in other assets 1,354 (58)
Decrease in prepaid FDIC assessment 0 199
Decrease in accrued interest payable (46) (64)
Expense related to restricted stock units for directors' deferred compensation plan 23 25
Expense related to employee stock compensation 117 112
Expense related to employee stock awards 36 60
Decrease in other liabilities (4,021) (1,654)
Income from bank owned life insurance (19) (21)
Net cash provided by operating activities 2,594 3,200
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sales and calls of securities available for sale 5,000 10,500
Proceeds from maturities and principal collected on securities available for sale 5,027 20,375
Proceeds from maturities and principal collected on securities held to maturity 630 257
Purchases of securities available for sale (875) (27,103)
Purchases of securities held to maturity (261) (4,407)
Purchase of Federal Home Loan Bank and Federal Reserve Bank stock 0 (917)
Redemption of Federal Home Loan Bank and Federal Reserve Bank stock 0 1,020
Purchases of premises and equipment (198) (65)
Proceeds from sales of other real estate owned 249 0
Net increase in loans (28,958) (27,955)
Net cash used by investing activities (19,386) (28,295)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in demand deposits, interest-bearing demand accounts, savings accounts, and insured money market accounts 34,257 36,964
Net decrease in time deposits (8,623) (4,599)
Net decrease in securities sold under agreements to repurchase (2,055) (1,283)
Repayments of Federal Home Loan Bank long term advances (54) (68)
Purchase of treasury stock 0 (93)
Sale of treasury stock 0 70
Cash dividends paid (1,194) 0
Net cash provided by financing activities 22,331 30,991
Net increase in cash and cash equivalents 5,539 5,896
Cash and cash equivalents, beginning of period 51,609 40,241
Cash and cash equivalents, end of period 57,148 46,137
Cash paid for:    
Interest 967 1,095
Income taxes 68 168
Supplemental disclosure of non-cash activity:    
Dividends declared, not yet paid $ 1,200 $ 1,194