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<br />FREMONT NATIONAL BANK
<br />STATEMENTS OF CASH FLOWS
<br />FOR THIS YEARS ENDED DECEMBER 31.2000 AND 1999
<br /> _2000 1999
<br />Cash flows tiom operating activities:
<br />Net income $ 2,U30,130 $ 2.019 260
<br />Adjustments to reconcile net income to net
<br />cash provided by operatin,; activities.
<br />Depreciation and amorti anon $ 219,655 $ 274,347
<br />Provision for loan loss 145,000 (1,000,000)
<br />Write down of other real estate 0 3,500
<br />(Gains) or losses on maturity of securities 186 0
<br />(Gains) or losses on sale:; of assets 52,833 13,034
<br />(Gains) or losses on sale of other real estate (525,343) 14,815
<br />Net (accretion) or amortization of investmene
<br />securities, discounts and premiums (34,445) (10,929)
<br />Deferred income tax 38,208 361,877
<br />Proceeds from mortgage loans held for sale 2,740,609 4,013,140
<br />Originations of mortgage loans held for sale (2,530,041) (3,999,308)
<br />(/rrcrenseJ decrease rrr:
<br />Interest receivable (97,000) (50,044)
<br />Other assets (94,374) (1 14,093 j
<br />lrrcreu.re (clecreaseJ irr:
<br />Accrued interest and other liabilities 128.304 24.380
<br />
<br />Total Adjustments $ 43 592 $ (469,28 I )
<br />
<br />NET CASH PROVIDED BY OPEEtATING ACT1V[TIES $ 2,073.722 $ 1.549 979
<br />Cash Flows from investing activities
<br />Net (increase) decrease m federal funds sold $ (6,155,000) $ 15,715,000
<br />Purchases of securities available for sale (13,597,428) (16,416,985)
<br />Proceeds from sales and maturities of
<br />securities available for sale 14,542,243 22,899,095
<br />Purchases of securities held to maturity 0 (14,530,157)
<br />Proceeds from maturities of securities held to maturity 403,878 608,904
<br />Net (increase) or decrease in loans (226,13 I) (7,347,723)
<br />Purchases of bank premises and equipment (228,722) (80,607)
<br />Proceeds from sale of bank prc~tnises 0 0
<br />Proceeds From sale of other real estate 734,162 150.12$
<br />NET CASH PROVIDED BY (USED CN)
<br />fNVESTING ACTIVITIES $ (4,526,998) $ 997.652
<br />The accompanying notes are an integral part of these financial statements.
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