Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 3,377 $ 2,974
Adjustments to reconcile net income to net cash provided by operating activities:    
Origination of loans for sale (9,463) (5,926)
Sale of loans originated for sale 9,494 6,055
Depreciation and amortization, net of accretion 1,099 1,173
Amortization of mortgage servicing rights 84 57
Stock based compensation expense 16 8
Gain on sale of securities, net (444) (617)
Other-than-temporary credit impairment of debt securities 0 6
Gain on sale of loans held-for-sale, net (298) (347)
Loss on foreclosed real estate, net 1 84
Provision for loan losses 230 1,075
Net change in:    
Interest receivable 149 7
Other assets 904 32
Accrued expenses and other liabilities (2,328) (1,421)
Total adjustments (556) 186
Net cash - operating activities 2,821 3,160
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities and pay downs of securities available-for-sale 23,772 30,137
Proceeds from sales of securities available-for-sale 12,475 13,283
Purchases of securities available-for-sale (40,006) (49,198)
Proceeds from sale of loans receivable transferred to loans held-for-sale 0 3,591
Loan participations purchased 253 (9,393)
Net change in loans receivable 1,609 (25,707)
Proceeds from sales of foreclosed real estate 101 809
Purchase of premises and equipment, net (302) (323)
Increase in cash value of bank owned life insurance (175) (194)
Net cash - investing activities (2,273) (36,995)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net change in deposits 6,319 20,619
Proceeds from FHLB advances 11,000 2,000
Repayment of FHLB advances (11,000) (2,000)
Change in other borrowed funds 3,261 7,051
Proceeds from sale of treasury stock 22 63
Common stock repurchased (57) 0
Dividends paid (1,078) (850)
Net cash - financing activities 8,467 26,883
Net change in cash and cash equivalents 9,015 (6,952)
Cash and cash equivalents at beginning of period 33,751 26,367
Cash and cash equivalents at end of period 42,766 19,415
SUPPLEMENTAL CASH FLOW INFORMATION:    
Interest 906 1,261
Income taxes 744 1,263
SUPPLEMENTAL NONCASH INFORMATION:    
Transfers from loans to foreclosed real estate 95 930
Transfers from loans receivable to loans held-for-sale $ 0 $ 3,428