XML 22 R6.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Consolidated Statements of Cash Flows (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities:    
Net income $ 5,149 $ 5,489
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 2,114 1,912
Depreciation and amortization 2,048 1,883
Amortization of intangible assets   66
Stock-based compensation expense 547 441
Mortgage loans originated for sale (9,874) (16,226)
Proceeds from mortgage loans sold 16,236 15,082
Gains on sales of loans (284) (184)
Gains on sales of OREO   (120)
Net gains on sales of investment securities (261) (777)
Other-than-temporary-impairment on investment securities   8
Income on bank-owned life insurance, net of costs (273) (279)
Changes in:    
Accrued interest receivable 85 (64)
Prepaid expenses and other assets (2,507) (583)
Accrued expenses and other liabilities (576) 435
Accrued interest payable (99) (309)
Net cash provided by operating activities 12,305 6,774
Cash flows from investing activities:    
Proceeds from sales of investment securities available for sale 2,629 5,330
Proceeds from maturities, calls and pay-downs of investment securities 24,741 16,952
Purchase of investment securities (14,578) (25,724)
Net increase in loans (38,564) (33,300)
Additions to premises and equipment, net (2,597) (3,124)
Proceeds from OREO sales and payments 325 1,556
Net cash used in investing activities (28,044) (38,310)
Cash flows from financing activities:    
Net increase in deposits 75,888 70,213
Net (decrease) increase in borrowed funds (10,762) 496
Cash dividends paid (1,963) (1,832)
Proceeds from issuance of common stock 626 603
Proceeds from the exercise of common stock options 236  
Tax benefit from the exercise of common stock option 4  
Net cash provided by financing activities 64,029 69,480
Net increase in cash and cash equivalents 48,290 37,944
Cash and cash equivalents at beginning of period 55,006 32,610
Cash and cash equivalents at end of period 103,296 70,554
Supplemental financial data:    
Cash Paid For: Interest 4,550 5,560
Cash Paid For: Income taxes 3,278 3,834
Supplemental schedule of non-cash investing activity:    
Purchase of investment securities not yet settled 3,031  
Transfer from loans to other real estate owned   $ 350