XML 37 R8.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities    
Net income $ 6,425 $ 10,028
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of premiums on securities available for sale 4,613 4,894
Depreciation and amortization 2,161 2,069
Provision for loan losses (603) (2,900)
Stock based compensation 525 79
Net change in loans held for sale (958) (2,228)
Net gain on disposal of other real estate owned (205) (269)
Writedown of other real estate owned 21 154
Net loss on disposal of premises and equipment 0 41
Deferred income taxes, including valuation allowance 1,554 0
Investment securities gains (1,911) (1,668)
Earnings on cash surrender value of life insurance (731) (710)
Increase (decrease) in accrued interest receivable (440) 249
Increase in accrued interest payable and other liabilities 308 5,474
Other, net (2,556) 801
Net cash provided by operating activities 8,203 16,014
Cash flows from investing activities    
Proceeds from sales of available for sale securities 65,598 151,454
Maturities, repayments and calls of available for sale securities 25,427 32,201
Purchases of available for sale securities (109,268) (175,014)
Net redemptions of restricted investments in bank stocks 1,244 587
Net increase in loans (59,740) (19,344)
Proceeds from sale of loans 0 5,743
Purchases of bank premises and equipment (1,169) (743)
Proceeds from disposal of other real estate owned 1,310 2,175
Purchases of bank owned life insurance (3,750) 0
Net cash used in investing activities (80,348) (2,941)
Cash flows from financing activities    
Net increase (decrease) in deposits 98,274 (11,156)
Net decrease in short term purchased funds (31,911) (2,753)
Proceeds from long-term debt 20,000 10,000
Payments on long-term debt (10,237) (11,091)
Dividends paid (1,161) 0
Net proceeds from issuance of common stock 190 104
Acquisition of treasury stock (147) 0
Net cash provided by (used in) financing activities 75,008 (14,896)
Net increase (decrease) in cash and cash equivalents 2,863 (1,823)
Cash and cash equivalents at beginning of period 31,409 37,560
Cash and cash equivalents at end of period 34,272 35,737
Supplemental disclosures of cash flow information:    
Interest 3,009 3,262
Income taxes 0 0
Supplemental schedule of noncash investing activities:    
Other real estate acquired in settlement of loans $ 1,216 $ 2,201