Operating Activities |
Net loss |
5.25M |
Less: Income from discontinued operations |
Net loss from continuing operations |
Adjustments to reconcile net income to net cash provided by operating activities |
Provision for loan losses |
5.97M |
Depreciation |
1.37M |
Amortization of intangibles |
452K |
Net increase in current & deferred income tax |
-1.41M |
Amortization of mark-to-market adjustments |
Fair value of adjustments on other real estate owned |
2M |
Amortization of unearned discounts on investments, net |
Other-than-temporary impairment losses |
268K |
Loans originated for sale |
-156.4M |
Proceeds from loans held for sale |
181.98M |
Gain on sale of loans, net |
-3.42M |
(Gain) loss on sale of other real estate owned, net |
-214K |
Recognition of stock-based compensation expense |
27K |
Decrease (increase) in prepaid FDIC insurance premium |
FDIC reimbursement of covered asset losses |
20.74M |
Goodwill impairment |
Gain on sale of property and equipment, net |
Other |
-4.22M |
Discontinued operations, net |
Net cash (used) provided by operating activities |
48.24M |
Investing Activities |
Proceeds from sales |
Proceeds from maturities, calls and payments |
15.68M |
Purchases |
-74.93M |
Proceeds from maturities, calls and payments, securities held to maturity |
699K |
Redemption FHLB stock, net |
Decrease in loans, net |
14.17M |
Proceeds from sales of other real estate owned |
5.37M |
Proceeds from sale of business |
Decrease in property and equipment, net |
376K |
Discontinued operations, net |
Net cash provided by investing activities |
-40.33M |
Financing Activities |
Increase in demand and savings deposits, net |
53.24M |
(Decrease) increase in time deposits, net |
-47.75M |
Decrease in short term borrowings, net |
Proceeds of FHLB advances, net |
0 |
Proceeds from issuance of common stock, net |
Exercise of stock options |
88K |
Dividends paid on preferred stock |
-813K |
Dividends paid on common stock |
-826K |
Net cash used by financing activities |
3.94M |
Net increase (decrease) in cash and cash equivalents |
11.85M |
Cash and cash equivalents at beginning of period, continuing operations |
Cash and cash equivalents at beginning of period, discontinued operations |
Cash and cash equivalents at beginning of period |
117.45M |
Cash and cash equivalents at end of period, continuing operations |
Cash and cash equivalents at end of period, discontinued operations |
Cash and cash equivalents at end of period |
129.3M |
Supplemental disclosures: |
Interest |
6.51M |
Income taxes |
4.86M |
Loans foreclosed |
Loans securitized into mortgage-backed securities |
71.13M |
Unrealized (loss) gain on securities available for sale, net of income tax |