XML 44 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statement of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Cash Flows from Operating Activities:      
Net income $ 14,215 $ 12,832 $ 11,502
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 420 675 1,255
Depreciation and amortization 420 469 457
Amortization and accretion on investment securities 2,364 1,932 829
Deferred income taxes (58) 98 (270)
Investment securities gains, net (604) (334) (99)
Earnings on bank owned life insurance (507) (498) (504)
Stock awards 201 209 205
Originations of loans held for sale (37,398) (9,583) (16,243)
Proceeds from sales of loans held for sale 36,699 9,791 16,584
Realized gains on loans sold (759) (208) (341)
Increase in accrued interest receivable (195) (166) (314)
Decrease in prepaid federal depository insurance 415 531 860
Decrease in accrued interest payable (369) (267) (258)
Other, net (33) 83 (847)
Net cash provided by operating activities 14,811 15,564 12,816
Available-for-sale securities:      
Proceeds from sales of available-for-sale securities 20,619 10,264 8,871
Proceeds from maturity and principal repayments of securities 117,375 89,645 54,069
Purchase of securities (130,966) (162,247) (118,105)
Proceeds from redemption of regulatory stock 1,141 472 184
Purchase of regulatory stock (1,405) 0 0
Net increase in loans (15,230) (14,551) (18,415)
Purchase of premises, equipment and software (438) (140) (1,292)
Proceeds from sale of premises and equipment 0 590 0
Proceeds from sale of foreclosed assets held for sale 738 372 942
Property purchased for future expansion 0 (542) 0
Net cash used in investing activities (8,166) (76,137) (73,746)
Cash Flows from Financing Activities:      
Net increase in deposits 3,103 53,282 75,152
Proceeds from long-term borrowings 0 3,018 3,702
Repayments of long-term borrowings (5,590) (7,000) (3,858)
Net increase (decrease) in short-term borrowed funds (2,166) 1,868 2,037
Purchase of treasury stock (1,348) (851) (386)
Purchase of restricted stock (142) (159) (9)
Dividends paid (4,601) (3,148) (3,162)
Net cash (used) provided by financing activities (10,744) 47,010 73,476
Net (decrease) increase in cash and cash equivalents (4,099) (13,563) 12,546
Cash and Cash Equivalents at Beginning of Year 30,432 43,995 31,449
Cash and Cash Equivalents at End of Year 26,333 30,432 43,995
Supplemental Disclosures of Cash Flow Information:      
Interest paid 8,028 9,950 11,598
Income taxes paid 4,345 3,215 3,585
Non-cash activities:      
Real estate acquired in settlement of loans 374 684 1,205
Real estate transferred to other assets $ 0 $ 0 $ 307