XML 28 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities:    
Net income $ 7,636 $ 7,193
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 451 732
Depreciation, amortization and accretion, net 2,035 2,475
Stock-based compensation expense 221 168
Gains on investment securities, net (734) (835)
(Gain) loss on sales of other real property owned, net (38) 59
Loss on write down of fixed assets 19 24
Gains on sale of loans held for sale, net (272) (571)
Decrease in accrued interest receivable 626 789
Increase (decrease) in accrued interest payable 15 (70)
Origination of loans held for sale (19,760) (41,351)
Proceeds from sale of loans held for sale 19,617 40,066
(Increase) decrease in other assets (329) 2,589
Decrease in other liabilities (1,271) (975)
Net cash provided by operating activities 8,216 10,293
Cash flows from investing activities:    
Proceeds from maturities of certificates of deposit investments 0 4,673
Proceeds from sales of securities available-for-sale 63,142 29,112
Proceeds from maturities of securities available-for-sale 40,270 103,833
Purchases of securities available-for-sale (45,427) (176,694)
Net increase in loans (39,293) (3,934)
Purchases of premises and equipment (496) (679)
Proceeds from sales of other real property owned 451 790
Net cash provided by (used in) investing activities 18,647 (42,899)
Cash flows from financing activities:    
Net increase (decrease) in deposits 3,281 (2,931)
Decrease in repurchase agreements (24,028) (18,790)
Proceeds from FHLB advances 0 10,000
Repayment of FHLB advances (10,000) (2,500)
Repayment of other borrowings 1,000 0
Proceeds from other borrowings 1,000 0
Proceeds from issuance of common stock 381 529
Conversion of Stock, Amount Converted (5) 0
Purchase of treasury stock (902) (1,593)
Dividends paid on preferred stock (2,024) (2,026)
Dividends paid on common stock (1,133) (930)
Net Cash Provided by (Used in) Financing Activities, Continuing Operations (34,430) (18,241)
Decrease in cash and cash equivalents (7,567) (50,847)
Cash and cash equivalents at beginning of period 65,102 82,712
Cash and cash equivalents at end of period 57,535 31,865
Cash paid during the period for:    
Interest 1,588 1,933
Income taxes 4,685 5,407
Supplemental disclosures of noncash investing and financing activities    
Loans transferred to other real estate owned 242 665
Dividends reinvested in common stock 576 499
Net tax benefit related to option and deferred compensation plans $ 101 $ 101