XML 38 R8.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
Cash flows from operating activities:    
Net loss $ (4,416) $ (1,352)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 97 52
Provision for loan losses 2,194 181
Net amortization of fees, premiums and discounts (339) (10)
Common stock issued as compensation to directors 23 25
Decrease in other assets 276 207
Loss on sale of foreclosed real estate 135 0
Provision for losses on sale of foreclosed real estate 724 45
(Increase) decrease in accrued interest receivable (4) 15
Other than temporary impairment on securities available for sale 353 103
Increase (decrease) in official checks and other liabilities 320 (314)
Net cash used in operating activities (637) (1,048)
Cash flows from investing activities:    
Purchase of securities available for sale (5,504) 0
Principal repayments of securities available for sale 3,149 4,238
Net (increase) decrease in loans (2,173) 750
Purchase of premises and equipment (132) (99)
Proceeds from sale of foreclosed real estate, net 2,942 190
Capital improvements on foreclosed real estate 0 (22)
Redemption of Federal Home Loan Bank stock 59 389
Net cash (used in) provided by investing activities (1,659) 5,446
Cash flows from financing activities:    
Net decrease in deposits (3,932) (1,231)
Net increase in advance payments by borrowers for taxes and insurance 282 330
Proceeds from sale of common stock 0 1,780
Net cash (used in) provided by financing activities (3,650) 879
Net (decrease) increase in cash and cash equivalents (5,946) 5,277
Cash and cash equivalents at beginning of the period 23,611 22,776
Cash and cash equivalents at end of the period 17,665 28,053
Cash paid during the year for:    
Interest 1,035 1,276
Noncash investing and financing transactions:    
Change in accumulated other comprehensive loss, net change in unrealized loss on securities available for sale (119) 438
Loans transferred to foreclosed real estate $ 697 $ 1,655