XML 25 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Loss $ (1,226) $ (2,140)
Adjustments to reconcile net loss to net cash from (used in) operating activities    
Amortization on securities, net 109 76
Depreciation 327 318
Provision for loan losses 957 2,694
Gain on sale of securities (141) (104)
Write-down on other real estate owned 424 255
Gain on sale of foreclosed assets (5) (5)
Gain on sale of loans (380) (341)
Originations of loans for sale (18,897) (17,648)
Proceeds from sales of loans 19,276 17,989
Compensation cost of stock options 8 8
Change in cash value of life insurance (121) (120)
Change in interest receivable and other assets (3,324) (872)
Change in interest payable and other liabilities 553 262
Net cash from (used in) operating activities (2,440) 372
CASH FLOWS FROM INVESTING ACTIVITIES    
Net change in interest-bearing time deposits 1,245 (249)
Purchases of securities available for sale (26,193) (11,511)
Proceeds from maturities and calls of securities available for sale 13,659 3,928
Proceeds from sales of securities available for sale 4,392 2,526
Proceeds from Federal Home Loan Bank stock redemption 2,892  
Proceeds from sale other real estate owned 281 6,527
Net change in loans 3,230 1,526
Property and equipment expenditures, net (186) (62)
Net cash from (used in) investing activities (680) 2,685
CASH FLOWS FROM FINANCING ACTIVITIES    
Non-interest bearing and interest bearing demand deposits and savings 8,807 (7,097)
Certificates and other time deposits 2,348 (10,438)
Repayments of borrowings   (200)
Net cash from (used in) financing activities 11,155 (17,735)
Change in cash and cash equivalents 8,035 (14,678)
Cash and cash equivalents at beginning of period 44,258 32,487
CASH AND CASH EQUIVALENTS AT END OF PERIOD 52,293 17,809
Supplemental disclosures    
Interest paid 1,100 1,254
Income taxes paid      
Transfers from loans to foreclosed assets and real estate held for investment $ 2,053 $ 4,053