XML 51 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net income $ 1,498 $ 118
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 96 95
Stock compensation expense 1 7
Credit for loan and lease losses (639) (251)
Impairment charge for other real estate owned 175 12
Net amortization of investment securities 555 1,448
Net accretion on loans (104) (62)
Net gains on sales of premises and equipment 0 (676)
Net gains on sales of other real estate (129) (162)
Proceeds from sales of loans and leases 1,798 123
Gains on sales of loans and leases (137) (16)
Net gains on sales of investment securities 0 (45)
Income from bank owned life insurance (129) (136)
Impairment of loans held for sale 0 100
Changes in assets and liabilities:    
Decrease in accrued interest receivable 379 533
Decrease in other assets 331 493
Increase in accrued interest payable 470 651
(Decrease) increase in other liabilities (668) 73
Net cash provided by operating activities 3,497 2,305
Cash flows from investing activities:    
Proceeds from maturities, calls and paydowns of AFS investment securities 10,466 37,311
Proceeds from sales of AFS investment securities 0 12,135
Purchase of AFS investment securities (11,341) (22,590)
Redemption of Federal Home Loan Bank stock 200 884
Net decrease (increase) in loans 5,010 (17,280)
Proceeds from the sales of premises and equipment 0 1,115
Purchase of premises and equipment (215) (47)
Proceeds from sales of foreclosed real estate 875 2,277
Net cash provided by investing activities 4,995 13,805
Cash flows from financing activities:    
Increase (decrease) in demand and NOW accounts 5,783 (960)
Increase (decrease) in money market and savings accounts 6,865 (5,025)
Decrease in certificates of deposit (8,980) (17,562)
Repayments of short-term borrowings (5,000) 0
Repayments of long-term borrowings (114) (112)
Net cash used in financing activities (1,446) (23,659)
Net increase (decrease) in cash and cash equivalents 7,046 (7,549)
Cash and cash equivalents at the beginning of the period 16,844 28,802
Cash and cash equivalents at the end of the period 23,890 21,253
Supplemental Disclosure    
Interest paid 1,155 1,329
Transfers to other real estate owned $ 672 $ 1,956