XML 66 R7.htm IDEA: XBRL DOCUMENT v3.2.0.727
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating activities    
Net Income $ 2,543 $ 2,598
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 126 941
Depreciation 872 994
Stock compensation 97 56
(Gain)/loss on sales of other real estate owned (78) 970
Write-downs of other real estate owned 852 443
Gain on loan sales (24) (18)
Loss on disposal of fixed assets 2 3
Loss on sales of investment securities - available-for-sale 17 154
Gain on sales of investment securities - held for trading 0 (1,100)
Amortization of deferred loan fees (232) (218)
Decrease in accrued interest receivable and other assets 1,453 1,985
Decrease in deferred tax benefit 268 2
Increase/(decrease) in accrued interest payable and other liabilities 135 (5,354)
Earnings on bank owned life insurance (555) (488)
Net cash provided by operating activities 5,772 1,032
Investing activities    
Proceeds from maturities/calls of investment securities available-for-sale 34,501 100,719
Proceeds from maturities/calls of investment securities held-to-maturity 3,949 1,509
Proceeds from sales of investment securities available-for-sale 24,667 56,222
Proceeds from sales of investment securities held for trading 0 1,100
Purchases of investment securities available-for-sale (37,797) (114,752)
Purchases of investment securities held-to-maturity (2,316) (1,256)
Proceeds from sales of other real estate owned 1,336 4,745
Proceeds from loan sales 2,769 2,104
Proceeds from disposal of fixed assets 6 0
Purchase of BOLI policy (5,500) 0
Net decrease in FHLB stock 344 433
Net increase in loans (8,759) (20,253)
Purchases of premises and equipment (359) (404)
Net cash provided by investing activities 12,841 30,167
Financing activities    
Net increase in deposits 21,772 1,337
Preferred stock dividends paid (1,350) (7,745)
Common Stock Grants 1 0
Net decrease in short-term borrowings (11,549) (5,763)
Payments on long-term borrowings (5,034) (32)
Net cash provided by/(used in) financing activities 3,840 (12,203)
Increase in cash and cash equivalents 22,453 18,996
Cash and cash equivalents at beginning of the year 35,451 43,063
Cash and cash equivalents at end of period 57,904 62,059
Supplemental information    
Interest paid 5,056 12,327
Non-cash investing activities:    
Transfers from loans to other real estate owned 765 1,415
Transfers from securities available for sale to held-to-maturity 0 103,934
Available-for-sale Securities [Member]    
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization of investment securities discounts and premiums $ 296 $ 64