XML 30 R7.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities:    
Net income $ 8,378 $ 6,700
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan and lease losses 10,690 9,760
Depreciation of premises and equipment 1,287 1,260
Other-than-temporary impairment on equity securities 10 47
Net gain on sales of investment securities (569) (87)
Net gain on mortgage banking activities (303) (935)
Net loss on interest rate swap   826
Net loss on dispositions of fixed assets 9 11
Net loss on sales and write-downs of other real estate owned 617 363
Bank owned life insurance income (612) (534)
Other adjustments to reconcile net income to cash provided by operating activities 1,829 2,795
Originations of loans held for sale (71,240) (53,994)
Proceeds from the sale of loans held for sale 74,087 53,840
Increase in interest receivable and other assets (1,595) (1,894)
Decrease in accrued expenses and other liabilities (730) (2,331)
Net cash provided by operating activities 21,858 15,827
Cash flows from investing activities:    
Net cash paid due to acquisitions, net of cash acquired   (2)
Net capital expenditures (857) (1,809)
Proceeds from maturities of securities held-to-maturity 15 37
Proceeds from maturities and calls of securities available-for-sale 105,018 151,516
Proceeds from sales of securities available-for-sale 5,928 3,616
Purchases of investment securities available-for-sale (55,827) (166,286)
Purchases of lease financings   (4,816)
Net decrease (increase) in loans and leases 19,079 (23,137)
Net decrease in interest-bearing deposits 10,782 28,385
Proceeds from sales of other real estate owned 1,390 1,425
Net cash provided by (used in) investing activities 85,528 (11,071)
Cash flows from financing activities:    
Net (decrease) increase in deposits (64,976) 45,515
Net decrease in short-term borrowings (15,801) (41,721)
Repayment of subordinated debt (375) (375)
Purchases of treasury stock (52) (6)
Stock issued under dividend reinvestment and employee stock purchase plans and other employee benefit programs 1,290 1,030
Cash dividends paid (6,663) (6,607)
Net cash used in financing activities (86,577) (2,164)
Net increase in cash and due from banks 20,809 2,592
Cash and due from banks at beginning of year 11,624 [1] 20,535
Cash and due from banks at end of period 32,433 23,127
Cash paid during the year for:    
Interest 5,923 12,069
Income taxes, net of refunds received 3,606 129
Noncash transfer of loans to other real estate owned $ 4,413 $ 162
[1] The consolidated balance sheet at December 31, 2010 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by U. S. generally accepted accounting principles for complete financial statements. Certain amounts have been reclassified to conform to the current-year presentation. See accompanying notes to the unaudited consolidated financial statements.