XML 142 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Operating activities    
Net Income/(Loss) $ 3,764 $ (1,016)
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:    
Provision for loan losses 946 9,236
Depreciation 1,026 1,005
Stock compensation 43 31
Gain on sales of Insurance assets 0 (88)
Gain on sales of other real estate owned (62) (682)
Write-downs of other real estate owned 37 0
Gain on loan sales (131) (59)
Loss on disposal of fixed assets 2 66
Net amortization of investment securities discounts and premiums 697 791
Gain on sales of investment securities - available-for-sale (227) (599)
Amortization of deferred Loan Fees (265) (276)
Decrease in accrued interest receivable and other assets 3,820 1,553
Deferred tax benefit 0 (1,509)
Increase/(decrease) in accrued interest payable and other liabilities 1,502 (1,836)
Earnings on bank owned life insurance (499) (1,264)
Net cash provided by operating activities 10,653 5,353
Investing activities    
Proceeds from maturities/calls of investment securities available-for-sale 20,705 39,511
Proceeds from maturities/calls of investment securities held-to-maturity 140 0
Proceeds from sales of investment securities available-for-sale 35,136 10,454
Purchases of investment securities available-for-sale (144,941) (36,086)
Proceeds from sales of other real estate owned 2,865 2,977
Proceeds from loan sales 18,049 7,619
Proceeds from disposal of fixed assets 0 19
Proceeds from sale of insurance assets 0 3,604
Proceeds from BOLI death benefit 0 1,806
Net decrease in FHLB stock 496 1,047
Net decrease in loans 9,184 6,108
Purchases of premises and equipment (727) (641)
Net cash provided by investing activities (59,093) 36,418
Financing activities    
Net (decrease)/increase in deposits (4,225) (31,444)
Net decrease in short-term borrowings 11,697 (7,966)
Proceeds from long-term borrowings 0 20,000
Payments on long-term borrowings (31) (20,529)
Net cash (used in)/provided by financing activities 7,441 (39,939)
Increase in cash and cash equivalents (40,999) 1,832
Cash and cash equivalents at beginning of the year 83,068 65,107
Cash and cash equivalents at end of period 42,069 66,939
Supplemental information    
Interest paid 4,868 6,621
Non-cash investing activities:    
Transfers from loans to other real estate owned 4,671 5,447
Transfers from securities available for sale to held-to-maturity $ 0 $ 4,040