XML 78 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities:    
Net income $ 2,820 $ 3,360
Adjustments to reconcile net income to net cash provided by operating activities:    
Share-based compensation 307 248
Amortization of pension costs 1,082 1,009
Depreciation and amortization 1,120 1,170
Provision for loan losses 2,660 4,560
Net investment amortization 2,081 2,112
Net change in unearned fees/deferred costs on loans (110) (992)
Capitalized dividends on FHLB stock (4) (14)
Gain on securities available for sale (1,394) (592)
Impairment loss on securities available for sale 2,038 4
Gain on loans held for sale (1,757) (1,497)
Other real estate losses 2,343 2,254
Other asset sales losses 140 95
Deferred income taxes 761 1,109
Originations of loans held for sale, net of repayments (63,851) (69,201)
Sales proceeds of loans held for sale 80,667 70,376
(Increase) decrease in:    
Accrued interest receivable 906 62
Cash surrender value of bank owned life insurance (347) (369)
Other assets (28) (1,785)
Increase (decrease) in:    
Accrued interest payable (179) (180)
Other liabilities (234) 2,541
Net cash provided by operating activities 29,021 14,270
Cash flows from investing activities:    
Purchases of securities available for sale (122,596) (136,027)
Sales of securities available for sale 147,799 42,837
Maturities of securities available for sale 37,795 36,131
Purchases of loans held for investment (2,364) (2,138)
Net decrease in other loans held for investment 12,692 13,413
Net (increase) decrease in:    
Interest bearing bank balances (39,020) 18,682
Federal funds sold 0 18,250
Bank premises and equipment (77) (449)
Net purchases of bank owned life insurance (17) (19)
Proceeds from sales of other real estate and other repossessed assets, net of improvements 4,975 6,688
Net redemptions of FHLB stock 181 0
Net cash provided by (used in) investing activities 39,368 (2,632)
Cash flows from financing activities:    
Net decrease in deposits (36,474) (10,136)
Net decrease in short-term borrowings (1,726) (1,174)
Repayments of other borrowings (33,215) (2,668)
Common dividends paid (192) (189)
Preferred dividends paid (300) (300)
Net cash used in financing activities (71,907) (14,467)
Net decrease in cash and due from banks (3,518) (2,829)
Cash and due from banks at January 1 54,811 39,976
Cash and due from banks at June 30 51,293 37,147
Supplemental disclosures:    
Total interest paid 4,435 6,417
Total income taxes paid 0 192
Income tax refunds received 72 0
Transfers of loans from held for sale to held for investment 3,351 4,199
Transfers of loans to foreclosed property 1,069 3,182
U. S. Treasury preferred dividend accrued but unpaid 75 75
Accretion on U. S. Treasury preferred stock $ 704 $ 634