Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Cash flows from operating activities    
Net income $ 2,473 $ 4,485
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 800 704
Stock compensation expense 30 0
Provision for loan losses (750) (3,600)
Origination of loans for sale (29,776) (26,524)
Proceeds from sales of loans originated for sale 34,755 19,459
Net gains on mortgage loans (825) (471)
Gain on sales of securities (20) 0
Write-down of other real estate 379 1,690
Net gain on sales of other real estate (320) (94)
Decrease (increase) in net deferred tax asset (1,142) 0
Decrease (increase) in accrued interest receivable and other assets 1,473 450
Earnings in bank-owned life insurance (170) (223)
Increase in accrued expenses and other liabilities (713) 2,798
Net cash from operating activities 6,194 (1,326)
Cash flows from investing activities    
Loan originations and payments, net (434) 6,639
Change in interest-bearing deposits in other financial institutions (25,000) 0
Purchases of securities available for sale (8,642) (44,921)
Purchases of securities held to maturity (1,100) 0
Proceeds from:    
Maturities and calls of securities available for sale 3,689 10,470
Sales of securities available for sale 603  
Principal paydowns on securities 1,775 334
Sales of other real estate 2,201 4,417
Additions to premises and equipment (282) (83)
Net cash from investing activities (27,190) (23,144)
Cash flows from financing activities    
Net increase (decrease) in in-market deposits (54,871) (818)
Repayments of other borrowed funds (1,164) (11,114)
Net cash from financing activities (56,035) (11,932)
Net change in cash and cash equivalents (77,031) (36,402)
Cash and cash equivalents at beginning of period 226,358 243,042
Cash and cash equivalents at end of period 149,327 206,640
Supplemental cash flow information    
Interest paid 1,566 2,462
Income taxes paid 0 0
Supplemental noncash disclosures:    
Transfers from loans to other real estate 2,271 5,811
Securities purchased not settled $ 1,070 $ 0