XML 55 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
Net income $ 5,823 $ 5,394
Depreciation 463 543
(Reduction in) provision for loan losses (475) 600
Impairment on securities 66 77
Gain on securities transactions, net (37) (84)
(Gain) loss on writedown and sale of foreclosed assets (1,047) 525
Gain on sale of premises and equipment (1)  
Gain on sale of loans (71)  
Amortization of premiums and discounts on securities, net 377 276
Amortization of deferred loan fees and discounts (579) (545)
Amortization of core deposit intangibles 19 28
Stock-based compensation 48 38
Changes in:    
Accrued interest receivable (196) (84)
Other assets 3,481 (2,172)
Accrued interest payable 50 (49)
Preferred stock repurchase payable   42,941
Other liabilities 4,206 673
Net cash provided by operating activities 12,127 48,161
Net change in interest-bearing deposits in banks (180)  
Purchases of securities available-for-sale (42,650) (47,072)
Purchases of other investments (649) (1)
Proceeds from maturities, calls, and principal paydowns of securities available-for-sale 15,516 51,206
Proceeds from sales and maturities of other investments 60 604
Net change in loans (86,265) (56,481)
Proceeds from sale of foreclosed assets 9,321 9,878
Purchases of premises and equipment (294) (188)
Net cash used in investing activities (105,141) (42,054)
Net change in:    
Deposits 39,133 7,895
Other borrowings 21,000 (315)
Proceeds from issuance of common stock   45,247
Repurchase of common stock   (125)
Repurchase of preferred stock   (43,034)
Cash dividends paid on preferred stock   (1,125)
Net cash provided by financing activities 60,133 8,543
Net (decrease) increase in cash and cash equivalents (32,881) 14,650
Cash and cash equivalents at beginning of period 159,449 193,609
Cash and cash equivalents at end of period 126,568 208,259
Supplemental information:    
Interest paid 4,440 5,339
Income taxes paid 900 2,144
Noncash investing and financing activities:    
Issuance of common stock – restricted shares 104 2,302
Foreclosed assets acquired 6,679 5,799
Loans originated to finance foreclosed assets $ 6,120 $ 4,071