XML 28 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (6,536) $ (2,958)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 1,899 1,903
Provision for loan losses 4,093 6,258
Income (less expenses) on life insurance (539) (253)
Gain on sale of securities available-for-sale (385)  
(Gain) loss on sale of fixed assets (5) 146
Loss (gain) on sale of foreclosed real estate 383 (17)
Adjustment of carrying value of foreclosed real estate 2,983 3,508
Accretion of bond premiums/discounts 397 16
Deferred tax expense 2,401 (305)
Amortization of core deposit intangible 56 79
Net change in:    
Interest receivable 551 532
Other assets (465) (2,080)
Accrued interest payable 269 176
Accrued expenses and other liabilities 264 80
Net Cash Provided by Operating Activities 5,366 7,085
CASH FLOWS FROM INVESTING ACTIVITIES    
Net decrease in loans 47,066 58,201
Purchase of securities available-for-sale (33,203) (16,765)
Proceeds from sale and maturities of securities available-for-sale 17,155 3,925
Sale of Federal Home Loan Bank stock 755 221
Payments for the purchase of property and equipment (1,065) (1,593)
Proceeds from sales of premises and equipment 22 185
Proceeds from sales of other real estate owned 7,231 4,182
Net Cash Provided by Investing Activities 37,961 48,356
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayment of line of credit borrowings   (4,900)
Net increase in other borrowings   5,200
Repayments to Federal Home Loan Bank (11,125) (5,900)
Net change in:    
Demand deposits 2,230 17,849
Savings deposits 790 (10,617)
Time deposits (58,118) (41,323)
Net Cash Used in Financing Activities (66,223) (39,691)
Net (decrease) increase in cash and cash equivalents (22,896) 15,750
Cash and Cash Equivalents, Beginning of Period 90,553 82,529
Cash and Cash Equivalents, End of Period 67,657 98,279
Supplemental Disclosure of Cash Paid During the Period for:    
Interest 5,115 7,892
Taxes      
Supplemental Disclosure of Non Cash Transactions:    
Other real estate acquired in settlement of foreclosed loans 6,873 6,108
Conversion of Director Notes in other borrowings to common stock (5,450)  
Conversion of accrued interest payable on Director Notes to common stock (272)  
Common stock issued as a result of the conversion of Director Notes $ 5,722