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Condensed Consolidated Statements of Cash Flows (USD $)
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Operating Activities  
Net Income/(loss)$ 1,390,211$ (9,028,914)
Items not requiring (providing) cash  
Depreciation and amortization1,344,2733,554,271
Provision for loan losses1,694,6488,788,713
Expense of share-based compensation plan66,98822,392
Amortization of premiums and discounts on securities1,225,1011,091,077
Amortization of intangible assets579,187600,613
Amortization of mortgage servicing rights415,771233,597
Impairment of mortgage servicing rights897,499575,000
Deferred income taxes(36,568)(3,537,222)
Proceeds from sale of loans held for sale135,730,072171,718,730
Originations of loans held for sale(135,093,351)(165,428,100)
Gain from sale of mortgage loans(2,090,736)(2,653,693)
Gain from sale of non-mortgage loans(80,423)(233,071)
Gain on available for sale securities(1,871,387)(451,474)
Software and fixed asset impairment04,892,231
OREO Impairment0215,000
Loss on sale of foreclosed assets296,778139,699
(Gain) / Loss on sale of fixed assets(9,300)19,367
Income from bank owned life insurance(276,208)(322,307)
Changes in  
Interest receivable7,764(236,070)
Other assets1,850,553582,983
Interest payable and other liabilities607,030(2,041,941)
Net cash from operating activities6,647,9028,500,670
Investing Activities  
Purchase of available-for-sale securities(36,704,998)(52,231,341)
Proceeds from maturities of available-for-sale securities21,274,02332,756,818
Proceeds from sales of available-for-sale-securities44,331,9979,995,724
Proceeds from bank owned life insurance1,353,7620
Net change in loans(15,707,317)13,572,294
Purchase of premises and equipment and software(626,100)(1,564,571)
Proceeds from sales of premises and equipment9,300(94,932)
Proceeds from sale of foreclosed assets1,397,1564,303,594
Net cash from investing activities15,327,8236,737,586
Financing Activities  
Net (decrease)/increase in demand deposits, money market, interest checking and savings accounts(8,134,236)23,134,502
Net increase in certificates of deposit6,805,1697,944,267
Net (decrease)/increase in securities sold under agreements to repurchase(27,007,345)3,074,211
Net decrease in federal funds purchased0(5,000,000)
Proceeds from Federal Home Loan Bank advances23,000,0002,000,000
Repayment of Federal Home Loan Bank advances(32,867,753)(11,836,839)
Proceeds from notes payable02,250,000
Repayment of notes payable(425,348)(1,028,510)
Net cash (used in) / from financing activities(38,629,513)20,537,631
(Decrease)/Increase in Cash and Cash Equivalents(16,653,788)35,775,887
Cash and Cash Equivalents, Beginning of Year30,417,81324,824,785
Cash and Cash Equivalents, End of Period13,764,02560,600,672
Supplemental Cash Flows Information  
Interest Paid4,591,7827,208,724
Transfer of loans to foreclosed assets$ 2,150,879$ 4,621,993