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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
8 Months Ended 9 Months Ended 1 Months Ended
Sep. 30, 2012
Successor [Member]
Sep. 30, 2013
Successor [Member]
Jan. 31, 2012
Predecessor [Member]
Cash flows from operating activities      
Net income $ 1,681 $ 3,946 $ 529
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation 907 1,773 103
Stock-based compensation 24 634 4
Provision for loan losses 3,991 4,712 195
Accretion on purchased loans (10,887) (15,376) (1,592)
Amortization of core deposit intangible 298 569 28
Amortization of premium on time deposits (2,127) (2,307) (311)
Accretion of discount on long-term debt 98 45 12
Gain on acquisition 0 (7,809) 0
Gain on mortgage loan commitments (546) (428) (159)
Gain on sales of loans held for sale (1,563) (4,373) (20)
Originations of loans held for sale (79,425) (158,380) (6,340)
Proceeds from sales of loans held for sale 74,305 185,241 9,018
Increase in cash surrender value of bank-owned life insurance (477) (671) (62)
Deferred income taxes (160) (206) 270
Gain on sale of available for sale securities (648) (1,215) 0
Net amortization of premiums on available for sale securities 516 1,500 25
Net loss on disposal of foreclosed assets 62 11 17
Valuation adjustments on foreclosed assets 471 415 0
Gains from change in fair value of interest rate swaps (147) (103) (2)
Change in assets and liabilities:      
(Increase) decrease in accrued interest receivable (1,227) 180 (34)
(Increase) decrease in other assets 143 5,291 3,143
Increase (decrease) in accrued interest payable (260) (150) (106)
Increase (decrease) in other liabilities 712 2,683 (2,606)
Net cash provided by (used in) operating activities (14,259) 15,982 2,112
Cash flows from investing activities      
Purchases of securities available for sale (60,020) (190,198) (2,658)
Proceeds from maturities and repayments of securities available for sale 29,617 26,725 2,158
Proceeds from sales of securities available for sale 50,291 174,326 0
Loan originations and principal collections, net (15,674) (130,645) 542
Proceeds from sales of loans 10,862 2,595 9,635
Purchases of premises and equipment (1,552) (2,137) (269)
Proceeds from disposal of foreclosed assets 2,735 4,838 2,940
Net cash received in acquisition of ECB Bancorp, Inc. 0 24,009 0
Proceeds from (purchases of) Federal Home Loan Bank stock 7,604 (2,572) 123
Net cash provided by (used in) investing activities 23,863 (93,059) 12,471
Cash flows from financing activities      
Net increase (decrease) in deposits (786) 15,510 (30,032)
Proceeds from issuance of short-term borrowings, net 0 55,716 0
Proceeds from issuance of long-term debt, net (5,000) 42,511 5,000
Proceeds from exercise of stock options 0 99 0
Restricted stock, canceled for tax withholding 0 (205) 0
Repurchase of Community Bank of Rowan common stock from directors (7) 0 0
Proceeds from issuance of Legacy VantageSouth Bank common stock to directors 14 0 0
Dividends paid on preferred stock (2,290) (1,382) 0
Net cash provided by (used in) financing activities (8,069) 112,249 (25,032)
Net change in cash and cash equivalents 1,535 35,172 (10,449)
Cash and cash equivalents, beginning of period 36,023 50,463 46,472
Cash and cash equivalents, end of period 37,558 85,635 36,023
SUPPLEMENTAL DISCLOSURES:      
Interest 6,861 7,967 1,038
Income taxes 0 0 0
Noncash investing activities:      
Transfers of loans to foreclosed assets 1,821 4,860 35
Change in fair value of securities available for sale, net of tax 1,520 (6,515) 488
Change in fair value of cash flow hedge, net of tax (273) 2,176 0
Acquisition:      
Assets acquired 0 855,996 0
Liabilities assumed 0 789,873 0
Other equity interests acquired 0 17,686 0
Purchase price 0 40,628 0
Gain on acquisition $ 0 $ 7,809 $ 0