XML 80 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Operating Activities    
Net Income $ 2,637 $ 1,986
Items (using)/providing cash    
Depreciation & amortization 501 642
Provision for loan losses 499 650
Expense of share-based compensation plan 52 27
Amortization of premiums and discounts on securities 543 693
Amortization of intangible assets 306 315
Amortization of originated mortgage servicing rights 535 603
Recapture of originated mortgage servicing rights impairment (444) (419)
Proceeds from sale of loans held for sale 150,295 144,542
Originations of loans held for sale (153,912) (148,231)
Gain from sale of loans (3,172) (2,576)
Gain on sales of available for sale securities (20) 0
Loss on sale of foreclosed assets 177 21
Income from bank owned life insurance (165) (177)
OREO impairment 33 58
Changes in    
Interest receivable (340) 38
Other assets 1,704 1,256
Interest payable and other liabilities (226) 399
Net cash used in operating activities (997) (231)
Investing Activities    
Purchase of available-for-sale securities (16,835) (17,859)
Purchase of Federal Home Loan Bank stock 0 (63)
Proceeds from maturities of available-for-sale securities 16,360 27,105
Proceeds from sales of available-for-sale-securities 1,235 0
Net change in loans (277) (10,254)
Purchase of premises and equipment and software (499) (955)
Proceeds from sales or disposal of premises and equipment 239 701
Proceeds from sale of foreclosed assets 828 219
Net cash provided by (used in) investing activities 1,051 (1,106)
Financing Activities    
Net increase in demand deposits, money market, interest checking and savings accounts 2,382 15,759
Net decrease in certificates of deposit (18,005) (15,863)
Net decrease in securities sold under agreements to repurchase (1,019) (2,955)
Proceeds from Federal Home Loan Bank Advances 9,000 20,500
Repayment of Federal Home Loan Bank advances 0 (15,776)
Proceeds from stock options exercised 17 0
Dividends on common stock (269) 0
Repayment of notes payable (554) (539)
Net cash (used in) provided by financing activities (8,448) 1,126
Decrease in Cash and Cash Equivalents (8,394) (211)
Cash and Cash Equivalents, Beginning of Year 19,144 14,846
Cash and Cash Equivalents, End of Period 10,750 14,636
Supplemental Cash Flows Information    
Interest paid 1,548 2,082
Income taxes paid 550 0
Transfer of loans to foreclosed assets $ 626 $ 118