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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities    
Net income $ 2,580 $ 2,462
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of premiums on securities available for sale 1,372 1,534
Depreciation and amortization 741 741
Provision for loan losses 0 0
Stock-based compensation 240 134
Gain on sales of loans originated for sale (547) (415)
Mortgage loans originated for sale (18,041) (16,023)
Proceeds from sales of loans originated for sale 20,839 14,420
Net gain on disposal of other real estate owned (55) (7)
Writedown of other real estate owned 51 0
Net loss on disposal of premises and equipment 25 0
Deferred income taxes 728 726
Investment securities gains (1,420) (1,529)
Earnings on cash surrender value of life insurance (268) (229)
Decrease in accrued interest receivable 263 48
Increase in accrued interest payable and other liabilities (387) (116)
Other, net (1,037) (986)
Net cash provided by operating activities 5,084 760
Cash flows from investing activities    
Proceeds from sales of available for sale securities 64,743 41,382
Maturities, repayments and calls of available for sale securities 6,816 7,838
Purchases of available for sale securities 0 (19,859)
Net redemptions of restricted investments in bank stocks 2,450 672
Net increase in loans (23,262) (23,842)
Purchases of bank premises and equipment (6,321) (126)
Improvements to other real estate owned (35) 0
Proceeds from disposal of other real estate owned 305 253
Net cash provided by investing activities 44,696 6,318
Cash flows from financing activities    
Net increase (decrease) in deposits 16,209 (3,948)
Net decrease in short term purchased funds (26,463) (11,470)
Proceeds from long-term debt 0 20,000
Payments on long-term debt (82) (10,078)
Dividends paid (664) 0
Net proceeds from issuance of common stock 0 47
Acquisition of treasury stock (245) 0
Issuance of treasury stock 40 0
Net cash (used in) financing activities (11,205) (5,449)
Net increase in cash and cash equivalents 38,575 1,629
Cash and cash equivalents at beginning of period 28,340 31,409
Cash and cash equivalents at end of period 66,915 33,038
Supplemental disclosures of cash flow information:    
Interest 1,301 923
Income taxes 0 0
Supplemental schedule of noncash investing activities:    
Other real estate acquired in settlement of loans $ 51 $ 745