XML 85 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Cash Flows from Operating Activities      
Net income (loss) $ 2,800 $ (10,961) $ (3,603)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 1,110 1,184 1,225
Origination of loans held for sale (8,627) (8,408) (16,371)
Proceeds from sale of loans held for sale 8,612 8,536 16,573
Net gains on sales of loans (214) (131) (263)
Provision for loan losses 3,555 12,380 11,731
Provision for other real estate owned 1,190 1,558 2,640
Net (gains) losses on sale of securities available for sale (1,285) (59) 7
Net gains on sale of premises and equipment (2)    
Net (gains) losses on sale of other real estate owned (278) 910 19
Income from bank owned life insurance (14)    
Accretion of discounts and amortization of premiums on securities, net 885 511 330
Compensation expense for ESOP shares allocated     42
Deferred income tax expense (benefit)   6,442 (3,986)
Changes in assets and liabilities:      
Decrease in interest receivable 161 47 43
(Increase) decrease in other assets 3,620 (1,186) 435
Increase (decrease) in accrued expenses and other liabilities 705 (387) (1,521)
Net cash provided by operating activities 12,218 10,436 7,301
Cash Flows from Investing Activities      
Proceeds from sales of securities available for sale 26,158 3,532 1,509
Proceeds from redemption of restricted securities 831 378 273
Proceeds from maturities, calls, and principal payments of securities available for sale 29,121 23,176 12,716
Purchase of securities available for sale (54,096) (56,690) (15,278)
Purchases of restricted securities (30)    
(Increase) decrease in federal funds sold   7,500 (7,500)
Purchase of premises and equipment (553) (472) (379)
Proceeds from sale of premises and equipment 2    
Proceeds from sale of other real estate owned 5,438 3,321 2,506
Purchase of bank owned life insurance (9,000)    
Net (increase) decrease in loans (149) 18,994 2,539
Net cash used in investing activities (2,278) (261) (3,614)
Cash Flows from Financing Activities      
Net increase in demand deposits and savings accounts 26,811 22,259 30,492
Net decrease in time deposits (29,066) (16,587) (30,878)
Proceeds from other borrowings 2 42,002 23,602
Principal payments on other borrowings (13,026) (43,024) (23,666)
Net proceeds from issuance of common stock 7,601    
Cash dividends paid on common stock   (540) (1,433)
Cash dividends paid on preferred stock (758) (758) (758)
Shares issued to leveraged ESOP     (26)
Net cash provided by (used in) financing activities (8,436) 3,352 (2,667)
Increase in cash and cash equivalents 1,504 13,527 1,020
Cash and cash equivalents, beginning of year 29,524 15,997 14,977
Cash and cash equivalents, end of year 31,028 29,524 15,997
Cash payments for:      
Interest 4,247 5,635 7,088
Income taxes 1,010   3,671
Supplemental Disclosures of Noncash Transactions      
Unrealized gains (losses) on securities available for sale 1,425 1,715 (425)
Transfer from loans to other real estate owned 5,578 8,117 2,865
Change in pension liability 454 898 379
Issuance of common stock dividend reinvestment plan   $ 71 $ 212