XML 20 R6.htm IDEA: XBRL DOCUMENT  v2.3.0.11
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
OPERATING ACTIVITIES:    
Net income (loss) $ 337 $ (479)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Provision for loan losses 1,206 1,490
Depreciation 343 360
Amortization and accretion, net 460 523
Provision for deferred income tax benefit (643) (430)
Gains on sale of assets and investments, net (101) (338)
Stock based compensation expense   13
Restricted stock based compensation plan (10) 12
Decrease in carrying value of other real estate owned 505  
Change in other assets (554) 176
Change in accrued expenses and other liabilities 648 241
Net cash provided by operating activities 2,191 1,568
INVESTING ACTIVITIES:    
Net change in certificates of deposit 50  
Proceeds from calls and maturities of investment securities held to maturity 6 397
Proceeds from sales and maturities of investment securities available for sale 20,077 23,835
Purchases of investment securities available for sale (8,691) (26,318)
Net change in loans receivable (6,294) 3,491
Proceeds from the sale of premises and equipment 10  
Proceeds from the sale of other real estate owned 1,975 1,685
Purchases of premises and equipment, net (211) (307)
Net cash provided by investing activities 6,922 2,783
FINANCING ACTIVITIES:    
Net change in deposits 7,954 20,479
Net change in advances from Federal Home Loan Bank (9) (14,158)
Proceeds from issuance of common stock 16  
Purchase of treasury stock (5)  
Dividends paid - preferred (118) (188)
Dividends paid - common (169) (167)
Net cash provided by financing activities 7,669 5,966
Net change in cash and cash equivalents 16,782 10,317
Cash and cash equivalents, beginning of period 23,797 27,070
Cash and cash equivalents at end of period 40,579 37,387
Supplemental disclosures of cash paid during the period for:    
Interest 916 1,369
Income taxes 8 60
Supplemental disclosures of noncash transactions:    
Real estate acquired through foreclosure 4,278 1,461
Change in unrealized gain on investment securities available for sale, net of taxes $ 1,697 $ 734