Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)
 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities    
Net income $ 7,315,000 $ 14,256,000
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 2,261,000 2,171,000
Stock compensation expense 94,000 0
Provision for loan losses (3,250,000) (6,600,000)
Origination of loans for sale (91,117,000) (100,885,000)
Proceeds from sales of loans originated for sale 98,409,000 93,040,000
Net gains on mortgage loans (2,145,000) (2,192,000)
Gain on sales of securities (80,000) (73,000)
Write-down of other real estate 2,415,000 4,247,000
Net gain on sales of other real estate (1,004,000) (11,000)
Decrease in net deferred tax asset 3,218,000 0
FHLB Advance prepayment penalty 0 322,000
Decrease in accrued interest receivable and other assets 109,000 1,050,000
Earnings in bank-owned life insurance (539,000) (657,000)
Increase in accrued expenses and other liabilities 289,000 1,445,000
Net cash from operating activities 15,975,000 6,113,000
Cash flows from investing activities    
Loan originations and payments, net 21,168,000 44,018,000
Change in interest-bearing deposits in other financial institutions (25,000,000) 0
Purchases of securities available for sale (34,450,000) (98,909,000)
Purchases of securities held to maturity (19,347,000) (4,000,000)
Proceeds from:    
Maturities and calls of securities available for sale 12,417,000 31,612,000
Sales of securities available for sale 3,778,000 4,595,000
Principal paydowns on securities 5,199,000 2,198,000
Sales of other real estate 10,545,000 13,426,000
Additions to premises and equipment (1,087,000) (522,000)
Net cash from investing activities (26,777,000) (7,582,000)
Cash flows from financing activities    
Change in in-market deposits 1,780,000 29,459,000
Repayments of other borrowed funds and subordinated debt (3,481,000) (36,781,000)
Net cash from financing activities (1,701,000) (7,322,000)
Net change in cash and cash equivalents (12,503,000) (8,791,000)
Cash and cash equivalents at beginning of period 226,358,000 243,042,000
Cash and cash equivalents at end of period 213,855,000 234,251,000
Supplemental cash flow information    
Interest paid 7,542,000 6,754,000
Income taxes paid 95,000 100,000
Supplemental noncash disclosures:    
Transfers from loans to other real estate 3,170,000 9,002,000
Securities settlement (1,626,000) 1,393,000
FHLB advance repayment not settled $ 0 $ 20,000,000