|
Consolidated Statement Of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
6 Months Ended |
|
Jun. 30, 2012
|
Jun. 30, 2011
|
| Cash flows from operating activities |
|
|
| Net income (loss) |
$ (417) |
$ (5,882) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities |
|
|
| Depreciation |
766 |
946 |
| Amortization of intangible assets |
475 |
539 |
| Amortization of mortgage servicing rights, net |
306 |
198 |
| Amortization of bond premiums, net |
1,404 |
1,175 |
| Income tax valuation adjustment |
13 |
2,029 |
| Share based compensation |
13 |
58 |
| Provision for loan losses |
2,725 |
7,500 |
| Provision for deferred income taxes |
(13) |
(2,029) |
| Earnings on bank-owned life insurance |
(488) |
(499) |
| Other-than-temporary impairment, securities |
|
499 |
| OREO valuation allowance |
795 |
1,297 |
| Securities sale (gains), net |
(714) |
(379) |
| (Gain) on sale of other assets, net |
|
(63) |
| (Gain) on sale of OREO |
(425) |
48 |
| (Gain) on sale of loans |
(1,240) |
(443) |
| Proceeds from sales of loans held for sale |
38,018 |
20,871 |
| Origination of loans held for sale |
(35,174) |
(19,517) |
| Change in assets and liabilities |
|
|
| (Increase) decrease in other assets |
439 |
1,302 |
| Increase (decrease) in other liabilities |
(316) |
(1,328) |
| Net cash provided by operating activities |
6,167 |
6,322 |
| Cash flows from investing activities |
|
|
| Proceeds from paydowns of securities available for sale |
26,213 |
22,647 |
| Proceeds from calls and maturities of securities available for sale |
2,310 |
11,920 |
| Proceeds from sales of securities available for sale |
18,069 |
18,419 |
| Purchases of securities available for sale |
(42,800) |
(53,485) |
| Redemption of Federal Home Loan Bank stock |
2,088 |
|
| Redemption of Federal Reserve Bank stock |
110 |
1,279 |
| Purchase of Federal Reserve Bank stock |
(76) |
|
| Net decrease (increase) in loans |
973 |
30,565 |
| (Purchase) disposal of premises and equipment |
(198) |
(194) |
| Proceeds from sale of OREO |
7,402 |
3,611 |
| Net cash from investing activities |
14,091 |
34,762 |
| Cash flows from financing activities |
|
|
| Net increase (decrease) in deposits |
(66,374) |
(65,068) |
| Net increase (decrease) in federal funds purchased and securities sold under agreements to repurchase |
(270) |
(8) |
| Repayment of advances from the Federal Home Loan Bank |
(1) |
(23,000) |
| Proceeds from advances from the Federal Home Loan Bank |
25,000 |
10,000 |
| Payments on notes payable |
(95) |
(90) |
| Net cash used in financing activities |
(41,740) |
(78,166) |
| Net increase (decrease) in cash and cash equivalents |
(21,482) |
(37,082) |
| Cash and cash equivalents |
|
|
| Beginning of period |
69,735 |
82,945 |
| End of period |
48,253 |
45,863 |
| Supplemental disclosures of cash flow information |
|
|
| Interest |
3,495 |
6,373 |
| Income taxes |
10 |
19 |
| Transfers from loans to other real estate owned |
$ 6,187 |
$ 14,860 |