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
 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities    
Net income $ 5,077 $ 7,671
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 1,452 1,416
Stock compensation expense 62 0
Provision for loan losses (1,750) (5,350)
Origination of loans for sale (63,160) (59,412)
Proceeds from sales of loans originated for sale 68,270 55,059
Net gains on mortgage loans (1,533) (1,251)
Gain on sales of securities (80) (59)
Write-down of other real estate 967 3,550
Net gain on sales of other real estate (614) (20)
Decrease (increase) in net deferred tax asset 2,283 0
Decrease (increase) in accrued interest receivable and other assets (964) 1,579
Earnings in bank-owned life insurance (358) (447)
Increase in accrued expenses and other liabilities 2,838 911
Net cash from operating activities 12,490 3,647
Cash flows from investing activities    
Loan originations and payments, net 36,966 27,174
Change in interest-bearing deposits in other financial institutions (25,000) 0
Purchases of securities available for sale (27,049) (67,461)
Purchases of securities held to maturity (1,100) 0
Proceeds from:    
Maturities and calls of securities available for sale 8,319 25,613
Sales of securities available for sale 3,778 4,050
Principal paydowns on securities 3,290 1,035
Sales of other real estate 8,138 8,587
Additions to premises and equipment (889) (407)
Net cash from investing activities 6,453 (1,409)
Cash flows from financing activities    
Net decrease in in-market deposits (86,683) 20,228
Repayments of other borrowed funds (1,164) (21,114)
Net cash from financing activities (87,847) (886)
Net change in cash and cash equivalents (68,904) 1,352
Cash and cash equivalents at beginning of period 226,358 243,042
Cash and cash equivalents at end of period 157,454 244,394
Supplemental cash flow information    
Interest paid 3,061 4,727
Income taxes paid 55 100
Supplemental noncash disclosures:    
Transfers from loans to other real estate 2,754 7,725
Securities settlement $ (1,626) $ 4,670