XML 21 R8.htm IDEA: XBRL DOCUMENT v3.19.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income $ 13,398 $ 16,347
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 886 1,565
Net amortization of securities 1,735 2,089
Change in unamortized net loan costs and premiums (190) 214
Premises and equipment depreciation 1,905 1,676
Stock-based compensation expense 560 627
Accretion of purchase accounting entries, net (1,017) (1,240)
Amortization of other intangibles 414 414
Income from cash surrender value of bank-owned life insurance policies (1,061) (823)
Loss on premises and equipment, net 21 0
Net change in other assets and liabilities (3,052) (5,695)
Net cash provided by operating activities 13,599 15,174
Cash flows from investing activities:    
Proceeds from maturities, calls and prepayments of securities available for sale 50,546 48,942
Purchases of securities available for sale (56,831) (57,725)
Net change in loans (86,745) 693
Purchase of Federal Home Loan Bank stock (9,720) (848)
Proceeds from sale of Federal Home Loan Bank stock 10,159 241
Purchase of premises and equipment, net (3,352) (2,002)
Proceeds from sale of other real estate owned 0 94
Net cash used in investing activities (95,943) (10,605)
Cash flows from financing activities:    
Net (decrease) increase in deposits (1,448) 22,558
Net change in short-term advances from the Federal Home Loan Bank (62,510) (47,467)
Net change in long-term advances from the Federal Home Loan Bank 114,062 (3,297)
Exercise of stock options 80 604
Treasury stock purchased (210) (278)
Cash dividends paid on common stock (6,524) (5,981)
Net cash provided by (used in) financing activities 43,450 (33,861)
Net change in cash and cash equivalents (38,894) (29,292)
Cash and cash equivalents at beginning of year 98,754 90,685
Cash and cash equivalents at end of year 59,860 61,393
Supplemental cash flow information:    
Interest paid 22,577 17,182
Income taxes paid, net 1,685 6,218
Other non-cash changes:    
Real estate owned acquired in settlement of loans $ 0 $ 124