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Consolidated Statements of Cash Flows (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities:    
Net income $ 3,549 $ 3,118
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization of securities and loan fees 866 590
Increase in interest receivable (12) (171)
Decrease in interest payable (150) (91)
Provision for loan losses 900 900
Gains on securities transactions (1,077) (558)
Impairment losses on securities 219 104
Losses on the sale of student loans 263 0
Gains on sale of mortgages (80) (63)
Loans originated for sale (5,452) (4,226)
Proceeds from sales of loans 6,050 4,357
Earnings on bank-owned life insurance (293) (289)
Losses on sale of other real estate owned 0 34
Depreciation of premises and equipment and amortization of software 677 680
Deferred income tax (20) (282)
Decrease in federal deposit insurance 315 305
Other assets and other liabilities, net (176) (647)
Net cash provided by operating activities 5,579 3,761
Cash flows from investing activities:    
Proceeds from maturities, calls, and repayments 28,470 27,126
Proceeds from sales 45,988 24,689
Purchases (77,324) (67,401)
Redemptions of regulatory bank stock 438 0
Purchase of bank-owned life insurance (29) (30)
Proceeds from sale of student loans 7,981 0
Net (increase) decrease in loans (2,239) 343
Purchases of premises and equipment (568) (530)
Purchase of computer software (86) (230)
Net cash provided by (used in) investing activities 2,631 (16,033)
Cash flows from financing activities:    
Net increase in demand, NOW, and savings accounts 12,358 16,326
Net (decrease)/increase in time deposits (14,463) 6,233
Proceeds from long-term debt 7,500 7,500
Repayments of long-term debt (3,000) (10,000)
Dividends paid (1,371) (1,363)
Treasury stock sold 231 182
Treasury stock purchased (119) 0
Net cash provided by financing activities 1,136 18,878
Increase in cash and cash equivalents 9,346 6,606
Cash and cash equivalents at beginning of period 29,226 16,747
Cash and cash equivalents at end of period 38,572 23,353
Supplemental disclosures of cash flow information:    
Interest paid 4,438 5,617
Income taxes paid 690 940
Supplemental disclosure of non-cash investing and financing activities:    
Net transfer of other real estate owned held for sale from loans 0 429
Fair value adjustments for securities available for sale $ 3,644 $ 4,326