XML 29 R7.htm IDEA: XBRL DOCUMENT v2.3.0.15
Consolidated Statements of Cash Flows (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES  
Net Income$ 5,359$ 5,505
Adjustments to reconcile net income to net cash provided by operating activities:  
Provision for loan losses1,075730
Depreciation369347
Amortization of intangible assets6839
Deferred income taxes(31)(36)
Net amortization of securities premiums and discounts564273
Net realized gain on sales of securities(768)(380)
Net increase in value of life insurance(299)(270)
Loss (gain) on sale of bank premises and equipment and foreclosed real estate54(3)
Net gain on sale of mortgage loans and servicing rights(282)(208)
Mortgage loans originated for sale(8,677)(10,537)
Proceeds from sale of mortgage loans originated for sale8,95910,745
Compensation expense related to stock options126122
Decrease in accrued interest receivable and other assets2,049569
Increase (decrease) in accrued interest payable and other liabilities675(14)
Net cash provided by operating activities9,2416,882
CASH FLOWS FROM INVESTING ACTIVITIES  
Securities available for sale: Proceeds from sales27,73423,778
Securities available for sale: Proceeds from maturities and principal reductions on mortgage-backed securities23,18051,704
Securities available for sale: Purchases(35,043)(82,518)
Securities held to maturity, proceeds from maturities 540
Redemption of FHLB stock527 
Net decrease in loans15,9753,886
Purchase of bank premises and equipment(135)(175)
Proceeds from the sale of bank premises and equipment and foreclosed real estate346100
Acquisition, net of cash and cash equivalents acquired4,544 
Net cash provided by (used in) investing activities37,128(2,685)
CASH FLOWS FROM FINANCING ACTIVITIES  
Net (decrease) increase in deposits(2,786)7,179
Net decrease in short-term borrowings(1,333)(1,274)
Repayments of other borrowings(18,060)(5,000)
Stock options exercised 111
Tax benefit on stock options exercised 32
Acquisition of treasury stock(207)(529)
Cash dividends paid(2,559)(2,318)
Net cash used in financing activities(24,945)(1,799)
Increase in cash and cash equivalents21,4242,398
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD16,62517,355
CASH AND CASH EQUIVALENTS, END OF PERIOD$ 38,049$ 19,753