XML 77 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 5,745,000 $ 2,238,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 808,000 918,000
Amortization of premium on securities, net 1,616,000 1,171,000
Amortization of core deposit intangible 109,000 109,000
Provision for loan losses 2,100,000 2,650,000
Net losses on sale and write-down of other real estate owned 1,487,000 2,002,000
Gain on sale of loans (1,858,000) (957,000)
Gain on sales or calls of securities (1,656,000) (849,000)
Loss on sale of premises and equipment 1,000 153,000
Stock-based compensation expense 158,000 105,000
Effect of changes in:    
Accrued interest receivable 261,000 264,000
Other assets (4,634,000) (1,019,000)
Accrued interest payable and other liabilities (1,838,000) 3,958,000
Net cash provided by operating activities 2,299,000 10,743,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of time deposits at other financial institutions (251,000)  
Purchases of available for sale securities (142,049,000) (60,540,000)
Proceeds from sales/calls of available for sale securities 110,579,000 31,518,000
Proceeds from maturities of available-for-sale securities 48,314,000 28,970,000
Purchases of FHLB and FRB stock and other securities (269,000) (903,000)
Purchases of jumbo residential mortgages (33,325,000)  
Net (increase) decrease in loans (9,315,000) 30,802,000
Proceeds from sales of other real estate owned 4,414,000 10,785,000
Purchases of premises and equipment (1,451,000) (430,000)
Net cash (used in) provided by investing activities (23,353,000) 40,202,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net (decrease) increase in deposits (7,763,000) 15,618,000
Repayment of suborinated debentures (10,310,000)  
Net cash (used in) provided by financing activities (18,073,000) 15,618,000
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (39,127,000) 66,563,000
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 58,968,000 23,634,000
CASH AND CASH EQUIVALENTS, END OF PERIOD 19,841,000 90,197,000
Cash paid during the year for:    
Interest 7,874,000 3,032,000
Income taxes paid 122,000 46,000
Noncash investing and financing activities:    
Transfer from loans to other real estate owned $ 7,484,000 $ 7,891,000