XML 36 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, 2011
Dec. 31, 2010
Dec. 31, 2009
Consolidated Statements of Cash Flows [Abstract]      
Net loss $ (5,425) $ (6,870) $ (9,891)
Adjustments to reconcile net loss to net cash from operating activities:      
Provision for loan losses 3,375 8,468 9,928
Valuation allowance on foreclosed assets 1,139   0
Valuation (gain) loss on mortgage servicing rights (3) 1 (4)
Depreciation 384 508 483
Amortization, net 858 509 (38)
Net realized gain on sales of securities (353) (468)  
Originations of loans held for sale (36,035) (79,506) (66,024)
Proceeds from sale of loans held for sale 37,072 80,192 63,312
Net gain on sale of loans (294) (866) (642)
Valuation loss on loans transferred from held for sale to portfolio     5
Net gain on acquisition     (208)
Loss on disposal of premises and equipment   1  
Loss on sale of assets held for sale 2    
Gain on sale of foreclosed assets (8)   (1)
Stock-based compensation expense 40 7 83
Change in deferred income taxes (net of change in valuation allowance)   198 1,579
Net change in:      
Bank owned life insurance (130) (126) (125)
Accrued interest receivable and other assets (95) 632 (542)
Accrued interest payable and other liabilities (46) 367 (442)
Net cash from operating activities 481 3,047 (2,527)
Cash flows from investing activities      
Net increase in interest-bearing deposits in other financial institutions (1,984)    
Available-for-sale securities:      
Sales 12,219 13,632  
Maturities, prepayments and calls 9,878 7,173 6,419
Purchases (12,473) (28,599) (3,698)
Loan originations and payments, net 36,247 18,086 (4,403)
Loans purchased     (2,231)
Proceeds from sale of portfolio loans   10,073  
Proceeds from redemption of FHLB stock     167
Additions to premises and equipment (69) (56) (40)
Proceeds from the sale of premises and equipment 533   1
Proceeds from the sale of foreclosed assets 1,000   28
Net cash used in acquisition     (675)
Net cash from investing activities 45,351 20,309 (4,432)
Cash flows from financing activities      
Net change in deposits (10,417) 16,230 3,363
Net change in short-term borrowings from the FHLB and other debt   (2,065) (3,785)
Proceeds from long-term FHLB advances and other debt     17,942
Repayments on long-term FHLB advances and other debt (8,200) (6,000) (11,200)
Net change in advances by borrowers for taxes and insurance (54) 52 (6)
Cash dividends paid on common stock     (205)
Cash dividends paid on preferred stock   (271) (341)
Costs associated with issuance of preferred stock     (13)
Net cash from financing activities (18,671) 7,946 5,755
Net change in cash and cash equivalents 27,161 31,302 (1,204)
Beginning cash and cash equivalents 34,275 2,973 4,177
Ending cash and cash equivalents 61,436 34,275 2,973
Supplemental cash flow information:      
Interest paid 3,366 4,152 6,095
Income taxes paid   (25)  
Supplemental noncash disclosures:      
Transfers from loans to repossessed assets   4,509 174
Premises and equipment transferred to assets held for sale 167 535  
Loans issued to finance the sale of repossessed assets     162
Loans transferred from held for sale to portfolio     $ 1,852