| Cash Flow for First Federal of Northern Michigan Bancorp Inc. (FFNM) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | (1,600) | 463 | 442 | 404 | 1,209 | | Provision for Loan Loss | 2,377 | 851 | 368 | 323 | 267 | | Depreciation & Amortization | 1,119 | 1,132 | 1,008 | 766 | 1,121 | | Deferred Income Taxes | (903) | (652) | (200) | - | 200 | | Change in Assets (Receivables) | 810 | (194) | (641) | (447) | (31) | | Change in Liabilities (Payables) | (315) | (46) | 893 | (44) | 250 | | Investment Securities Gain | 96 | 45 | (13) | (103) | (320) | | Net Policy Acquisition Cost | - | - | - | - | - | | Realized Investment Gains | (73) | (108) | (245) | 47 | (2) | | Net Premiums Receivables | - | - | - | - | - | | Change in Income Taxes | - | - | - | - | - | | Other Non-Cash Items | 301 | 271 | 1,665 | 71 | (389) | | Net Cash from Operating Activities | 1,813 | 1,762 | 3,277 | 1,017 | 2,305 | | | | Proceeds from Sale/Mat. Inv. | 23,657 | 12,474 | 7,562 | 29,907 | 28,834 | | Purchase of Investment Securities | (1,875) | (1,976) | (21,511) | (38,016) | (17,750) | | Net Increase Fed. Funds Sold | - | 568 | (99) | (206) | (166) | | Purchase of Property & Equipment | (207) | (1,235) | (1,119) | (1,335) | (1,114) | | Acquisitions | - | (47) | (526) | (300) | - | | Other Investment Changes, Net | 4,931 | (9,186) | (6,163) | (32,251) | (13,356) | | Net Cash from Investing Activities | 26,506 | 598 | (21,856) | (42,201) | (3,552) | | | Net Change in Deposits | (12,588) | (11,677) | 6,245 | 30,787 | (4,390) | | Cash Dividends paid | (582) | (614) | (540) | (277) | (367) | | Repayment of Long Term Debt | (55,602) | (10,786) | (12,878) | (2,718) | (12,112) | | Change in Short Term Debt | - | - | - | - | - | | Issuance of Long term Debt | 42,200 | 22,441 | 10,925 | 11,455 | 9,500 | | Issuance of Preferred Stock | - | - | - | - | - | | Issuance of Common Stock | - | 99 | 16,109 | 21 | 131 | | Purchase of Treasury Stock | (1,399) | (1,625) | (1,447) | - | - | | Other Financing Activities | - | 15 | 208 | (51) | 92 | | Cash from Financing Activities | (27,971) | (2,147) | 18,620 | 39,217 | (7,146) | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash & Equivalents | 348 | 213 | 41 | (1,967) | (8,393) | | | Cash at Beginning of Period | 4,993 | 4,780 | 4,739 | 6,706 | 15,099 | | Cash at End of Period | 5,341 | 4,993 | 4,780 | 4,739 | 6,706 | | | |
