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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities:      
Net earnings $ 5,159 $ 1,841 $ 2,916
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation, amortization and accretion 6,226 4,971 2,931
Provision for loan losses 12,632 16,438 10,535
Deferred income taxes (678) (523) (1,720)
Gain on sale of investment securities (4,406) (3,348) (1,795)
Write-down of investment securities 144 291 723
Gain on ineffective portion of derivative financial instruments 0 0 (1)
Loss/(Gain) on sale of other real estate and repossessions 272 (191) 24
Write-down of other real estate 1,050 895 477
Restricted stock expense 7 10 4
Change in:      
Mortgage loans held for sale (1,332) (974) (2,840)
Cash surrender value of life insurance (296) (257) (263)
Other assets 2,644 (2,316) (6,581)
Other liabilities 930 961 300
Net cash provided by operating activities 22,352 17,798 4,710
Cash flows from investing activities:      
Net change in certificates of deposit 735 2,610 (3,345)
Purchases of investment securities available for sale (208,863) (232,915) (141,770)
Proceeds from calls, maturities and paydowns of investment securities available for sale 54,041 86,935 40,629
Proceeds from sales of investment securities available for sale 110,978 65,774 30,743
Purchases of other investments (215) 0 (1,426)
Proceeds from sale of other investments 290 585 809
Net change in loans 38,561 28,703 (7,916)
Purchases of premises and equipment (1,601) (1,441) (1,614)
Purchases of bank owned life insurance (5,000) 0 0
Proceeds from sale of premises and equipment 0 0 24
Proceeds from sale of other real estate and repossessions 3,355 5,725 3,435
Net cash used by investing activities (7,719) (44,024) (80,431)
Cash flows from financing activities:      
Net change in deposits (11,601) 29,369 88,281
Net change in demand notes payable to U.S. Treasury (1,600) 964 (964)
Net change in securities sold under agreement to repurchase 5,506 (2,782) (625)
Proceeds from FHLB borrowings 40,000 0 24,100
Repayments of FHLB borrowings (40,000) (7,000) (24,100)
Proceeds from FRB borrowings 1 0 45,000
Repayments of FRB borrowings (1) 0 (50,000)
Restricted stock payout 17 12 0
Cash dividends paid on Series A preferred stock (1,253) (1,253) (1,120)
Cash dividends paid on common stock (443) (447) (1,440)
Net cash (used) provided by financing activities (9,374) 18,863 79,132
Net change in cash and cash equivalent 5,259 (7,363) 3,411
Cash and cash equivalents at beginning of period 23,977 31,340 27,929
Cash and cash equivalents at end of period 29,236 23,977 31,340
Cash paid during the year for:      
Interest 10,900 14,419 17,541
Income taxes 283 1,700 2,230
Noncash investing and financing activities:      
Change in unrealized gain on investment securities available for sale, net (3,087) 1,838 (524)
Change in unrealized gain on derivative financial instruments, net 398 680 (2,095)
Transfer of loans to other real estate and repossessions 10,787 9,105 6,067
Financed portion of sale of other real estate 5,208 2,270 1,166
Accretion of Series A preferred stock 141 141 126
Cumulative effect and resulting adjustment of adoption of EITF 06-4 $ 0 $ 0 $ (358)