pab bankshares, inc. - SNL Financial

PAB BANKSHARES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
YEARS ENDED DECEMBER 31, 2009, 2008 AND 2007
2009 2008 2007
CASH FLOWS FROM FINANCING ACTIVITIES
Net increase (decrease) in deposits (78,238,056) 143,554,240 71,666,026
Net increase (decrease) in federal funds purchased and securities
sold under repurchase agreements 1,056,771 (7,221,117) 8,526,706
Advances from Federal Home Loan Bank 15,000,000 41,000,000 47,500,000
Payments on Federal Home Loan Bank advances (34,564,416) (17,593,788) (51,392,997)
Proceed from issuance of long-term debt 20,000,000 - -
Proceeds from termination of cash flow hedge derivative instrument 2,276,944 - -
Proceeds from private placement of capital 12,772,471 - -
Dividends paid - (3,532,990) (5,432,369)
Proceeds from the exercise of stock options - 35,980 691,341
Purchase of cash flow hedge derivative instrument - (786,000) -
Acquisition of stock under stock repurchase plans - (1,162,521) (5,894,104)
Net cash provided by (used in) financing activities (61,696,286) 154,293,804 65,664,603
Net increase (decrease) in cash and balances due from banks $ (1,462,543) $ (11,347,179) $ 2,739,448
Cash and balances due from banks at beginning of period 18,104,521 29,451,700 26,712,252
Cash and balances due from banks at end of period $ 16,641,978 $ 18,104,521 $ 29,451,700
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid (received) during the period for:
Interest $ 31,957,440 $ 36,084,451 $ 42,131,057
Taxes $ (3,959,872) $ 2,044,000 $ 5,770,337
NONCASH INVESTING AND FINANCING TRANSACTIONS
Increase (decrease) in unrealized gains on securities available for sale $ (1,569,945) $ 1,945,058 $ 1,998,983
Increase (decrease) in unrealized gains on cash flow hedge $ (2,917,308) $ 2,350,929 $ 787,496
Transfer of loans to foreclosed assets $ 81,250,046 $ 23,598,987 $ 7,417,079
See accompanying notes to consolidated financial statements.
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