XML 44 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Operating Activities    
Net income (loss) $ 1,524,000 $ (309,000)
Adjustments to reconcile net income (loss) income to net cash provided by (used in) operating activities:    
Depreciation 486,000 479,000
Accretion of discount on securities and loans, net 686,000 684,000
Amortization of core deposit intangible asset 202,000 202,000
Accretion of discount on assets acquired in merger (1,607,000) (1,670,000)
Amortization of discount on liabilities assumed in merger 56,000 56,000
Provision for loan and lease losses 100,000 450,000
Provision for losses on unfunded loan commitments 25,000  
Stock-based compensation 88,000 73,000
Gain on sale or call of available-for-sale securities (174,000) (527,000)
Gain on sale of loans   (8,000)
Gains on disposition of loans held for sale (609,000) (26,000)
Change in the fair value of warrant liability   (79,000)
Net losses and writedowns of fixed assets or other real estate owned 28,000 288,000
Increase in company-owned life insurance (108,000) (115,000)
Reinvested earnings from FHLB stock and other investments (124,000)  
Net increase in accrued taxes receivable (11,000)  
Other, net 439,000 (145,000)
Proceeds from loan sales   101,000
Loans originated for sale (927,000)  
Net cash provided by (used in) operating activities 74,000 (546,000)
Investing Activities    
Net decrease (increase) in deposits in other banks 1,482,000 (1,584,000)
Purchase of available-for-sale securities (77,768,000) (87,337,000)
Proceeds from maturities, calls and paydowns of available-for-sale securities 20,766,000 19,557,000
Proceeds from sales of available-for-sale securities 29,552,000 24,873,000
Net (increase) decrease in loans held for investment (1,781,000) 6,582,000
Net (increase) decrease in loans held for sale (728,000) 3,456,000
Net decrease in FHLB stock and other investments 20,000 126,000
Purchases of premises and equipment (91,000) (247,000)
Proceeds from sale of premises and equipment   17,000
Proceeds from sale of other real estate owned   3,132,000
Net cash (used in) investing activities (28,548,000) (31,425,000)
Financing Activities    
Net increase in demand deposits and savings accounts 5,422,000 24,108,000
Net increase (decrease) increase in time deposits 4,985,000 (26,037,000)
Net increase (decrease) in other borrowings and mezzanine financing 1,650,000 (600,000)
Proceeds from exercise of common stock warrants 3,000,000 500,000
Payment of dividends on preferred stock (93,000) (365,000)
Net cash provided by (used in) financing activities 14,964,000 (2,394,000)
Net (decrease) in cash and cash equivalents (13,510,000) (34,365,000)
Cash and cash equivalents at beginning of period 25,635,000 61,621,000
Cash and cash equivalents at end of period 12,125,000 27,256,000
Non-cash changes:    
Change in unrealized gains (losses) on available-for-sale securities (4,799,000) 440,000
Loans reclassified to held for sale   4,583,000
Real estate acquired by foreclosure 0 492,000
Adjustments to net contribution from shareholder recognized in additional paid-in capital for Santa Lucia merger   1,130,000
Cancellation of warrants accounted for as liabilities   (4,955,000)
Supplemental disclosures of cash flow information:    
Interest paid 490,000 933,000
Taxes paid $ 50,000 $ 3,000