XML 67 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities    
Net income $ 7,984 $ 6,940
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation/amortization 1,116 1,028
Net amortization of premiums on securities 997 1,049
Amortization of deferred loan origination fees and costs (404) (201)
Amortization of intangible assets 0 22
Provision for loan losses 970 1,150
Provision for losses on foreclosed real estate 125 2,273
Amortization of investment in real estate partnership 242 258
Increase in cash surrender value and death benefit on bank owned life insurance (543) (487)
Originations of loans held for sale (46,719) (47,539)
Proceeds from sales of loans held for sale 48,600 47,388
Net gain on sales of loans held for sale (874) (833)
Gain on disposal of premises and equipment 0 7
Net gain on sales of securities available-for-sale (44) (431)
Net (gain) loss on sales of foreclosed real estate (15) 167
Stock-based compensation 236 234
Decrease in interest receivable 61 107
Decrease (increase) in other assets 1,270 (229)
Decrease in interest payable (94) (21)
Decrease in other liabilities (143) (1,020)
Net cash provided by operating activities 12,765 9,862
Cash flows from investing activities    
Purchases of securities, available-for-sale (43,348) (51,533)
Maturities, repayments and calls of securities, available-for-sale 32,209 32,272
Sales of securities, available-for-sale 927 15,920
(Purchase) redemption of restricted investment in bank stock (745) 655
Net increase in loans made to customers (77,240) (40,218)
Purchases of premises and equipment (3,912) (798)
Investment in bank owned life insurance (5,307) (237)
Proceeds from bank owned life insurance 0 206
Investment in foreclosed real estate 0 (17)
Proceeds from sales of foreclosed real estate 207 9,967
Net cash used in investing activities (97,209) (33,783)
Cash flows from financing activities    
Net increase in demand and savings deposits 27,664 38,842
Net (decrease) increase in time deposits (6,656) 2,213
Net increase in short-term borrowings 12,179 13,936
Proceeds from issuance of long-term debt 20,000 0
Repayment of long-term debt (302) (10,650)
Tax benefit on vested restricted stock 0 27
Cash dividends paid to preferred shareholders (187) (571)
Cash dividends paid to common shareholders (1,531) (1,223)
Issuance of common stock 667 411
Net cash provided by financing activities 51,834 42,985
Net (decrease) increase in cash and cash equivalents (32,610) 19,064
Cash and cash equivalents at beginning of year 49,757 32,195
Cash and cash equivalents at end of period $ 17,147 $ 51,259