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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities    
Net income $ 3,964 $ 4,851
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of premiums on securities available for sale 3,027 2,647
Depreciation and amortization 1,463 1,506
Provision for loan losses 0 0
Stock based compensation 291 17
Net change in loans held for sale (971) (173)
Net gain on disposal of other real estate owned (173) (259)
Writedown of other real estate owned 0 9
Net loss on disposal of premises and equipment 0 42
Deferred income taxes, including valuation allowance 987 0
Investment securities gains (1,882) (1,199)
Earnings on cash surrender value of life insurance (462) (472)
Increase (decrease) in accrued interest receivable (262) 445
Increase (decrease) in accrued interest payable and other liabilities (184) 2,311
Other, net (881) 959
Net cash provided by operating activities 4,917 10,684
Cash flows from investing activities    
Proceeds from sales of available for sale securities 60,594 103,500
Maturities, repayments and calls of available for sale securities 16,712 21,044
Purchases of available for sale securities (79,965) (99,628)
Net (investment) redemptions of restricted investments in bank stocks (849) 644
Net increase in loans (48,288) (10,173)
Purchases of bank premises and equipment (683) (771)
Proceeds from disposal of other real estate owned 847 1,625
Net cash provided by (used in) investing activities (51,632) 16,241
Cash flows from financing activities    
Net increase (decrease) in deposits 13,150 (18,685)
Net increase (decrease) in short term purchased funds 16,534 (5,112)
Proceeds from long-term debt 20,000 10,000
Payments on long-term debt (10,157) (10,723)
Dividends paid (579) 0
Net proceeds from issuance of common stock 152 47
Net cash provided by (used in) financing activities 39,100 (24,473)
Net increase (decrease) in cash and cash equivalents (7,615) 2,452
Cash and cash equivalents at beginning of period 31,409 37,560
Cash and cash equivalents at end of period 23,794 40,012
Supplemental disclosures of cash flow information:    
Interest 1,898 2,205
Income taxes 0 0
Supplemental schedule of noncash investing activities:    
Other real estate acquired in settlement of loans $ 804 $ 1,803