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CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Operating Activities:    
Net income $ 3,237 $ 1,570
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 893 995
Amortization of premiums/discounts on securities, net 364 170
Net change in fair value of trading securities (823) 724
Provision for loan losses 950 700
Loss on disposal of premises and equipment 0 15
Loss on sale of foreclosed property 80 4
Stock compensation earned 0 103
Loss on impairment of securities 286 1,051
ESOP share earned 82 0
Gain on sale of securities, net (78) (751)
Gain on sale of loans, net (127) (153)
Income tax payable (430) (633)
Accrued interest receivable (33) 180
Other assets 7 437
Other liabilities (2,091) (3,645)
Earnings on bank owned life insurance (277) (291)
Origination of loans held for sale (6,811) (13,824)
Proceeds from sales of loans 7,512 13,078
Net cash provided by (used in) operating activities 2,741 (270)
Investing Activities:    
Purchase of securities available for sale (27,512) (97,163)
Proceeds from sale of securities available for sale 27,403 18,988
Maturities and calls of securities available for sale 18,412 16,242
Principal collected on securities available for sale 6,264 11,483
Purchase of securities held to maturity (35,025) 0
Maturities and call of securities held to maturity 1,027 14,016
Principal collected on securities held to maturity 1,760 2,136
Proceeds from sale of trading securities 845 0
Purchase of FHLB stock (384) (146)
Redemption of FHLB stock 325 429
Net decrease in loans 243 4,531
Purchase of bank premises and equipment (847) (986)
Proceeds from the sale of foreclosed property 202 38
Purchase of employee benefits company (94) (117)
Purchase of insurance company (362) 0
Net cash used in investing activities (7,743) (30,549)
Financing Activities:    
Net (decrease) increase in demand deposit, savings, money market, super now and escrow (1,037) 35,835
Net decrease in time deposits (5,427) (3,881)
Dividends on preferred stock of subsidiary held by minority interest (128) (128)
Proceeds from borrowings 0 110
Repayment of borrowings 0 (7,610)
Cash dividends (1,719) (844)
Stock issued/repurchase -noncontrolling interest (1) 1
Exercise of stock options (using treasury stock) 0 170
Purchase of treasury stock 0 (136)
Net cash (used in) provided by financing activities (8,312) 23,517
Decrease in cash and cash equivalents (13,314) (7,302)
Cash and cash equivalents at beginning of period 33,741 39,537
Cash and cash equivalents at end of period 20,427 32,235
Supplemental disclosures of cash flow information:    
Cash paid for interest 2,188 3,053
Cash paid for income taxes 1,465 1,060
Supplemental noncash disclosures:    
Transfer of loans to other real estate 487 241
Dividends declared and unpaid 860 423
Notes payable issued in connection with acquisition $ 362 $ 0