XML 18 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
OPERATING ACTIVITIES    
Net income $ 1,565 $ 1,263
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision (credit) for loan losses (625) (600)
Depreciation expense 375 378
Net amortization of investment securities 262 174
Net realized losses on investment securities available for sale   358
Net gains on loans held for sale (276) (262)
Amortization of deferred loan fees (45) (82)
Origination of mortgage loans held for sale (17,168) (11,525)
Sales of mortgage loans held for sale 21,601 17,992
Decrease (increase) in accrued interest income receivable 70 (240)
Decrease in accrued interest expense payable (325) (869)
Earnings on bank owned life insurance (215) (216)
Deferred income taxes 521 (519)
Stock based compensation expense 6 6
Decrease in prepaid Federal Deposit Insurance 100 433
Net (increase) decrease in other assets (1,372) 4,808
Net increase in other liabilities 22 1,102
Net cash provided by operating activities 4,496 12,201
INVESTING ACTIVITIES    
Purchases of investment securities - available for sale (11,517) (49,413)
Purchases of investment securities - held to maturity   (1,991)
Proceeds from sales of investment securities - available for sale   16,518
Proceeds from maturities of investment securities - available for sale 15,852 10,771
Proceeds from maturities of investment securities - held to maturity 453 441
Proceeds from redemption of regulatory stock 294 361
Long-term loans originated (37,246) (16,883)
Principal collected on long-term loans 36,401 47,072
Loans purchased or participated (4,000) (3,845)
Sale of other real estate owned   182
Purchases of premises and equipment (521) (335)
Net cash (used in) provided by investing activities (284) 2,878
FINANCING ACTIVITIES    
Net increase in deposit balances 3,730 13,839
Net decrease in other short-term borrowings (14,375) (4,550)
Principal repayments on advances from Federal Home Loan Bank (1,000) (14)
Purchases of treasury stock (1,085)  
Preferred stock dividends (263) (263)
Net cash (used in) provided by financing activities (12,993) 9,012
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (8,781) 24,091
CASH AND CASH EQUIVALENTS AT JANUARY 1 34,783 19,337
CASH AND CASH EQUIVALENTS AT MARCH 31 $ 26,002 $ 43,428