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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net income $ 9,475 $ 8,029
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment 784 947
Amortization of deferred loan costs 284 78
Amortization of intangibles 600 676
Net accretion of purchase accounting adjustments on tangible assets (501) (1,965)
Provision for loan losses 1,500 2,058
Net gain on sale of other real estate owned (110) (41)
Net loss on disposal of equipment   63
Net amortization of investment securities 2,054 2,116
Loans originated for sale (14,079) (4,866)
Proceeds from sale of loans originated for sale 15,155 3,527
Net (gain) loss on sale of loans originated for sale (469) 339
Net gain on sale of investment securities (832) (160)
Life insurance investment income (377) (395)
Deferred income tax expense (benefit) 119  
Stock based compensation 35 11
Net change in:    
Accrued interest receivable 73 290
Other assets (3,235) (4,764)
Accrued interest payable (131) (143)
Stock appreciation rights   301
Other liabilities (1,478) 3,841
Net cash provided by operating activities 8,867 9,942
Cash flows from investing activities:    
Proceeds from sales of investment securities available-for-sale 50,981 4,984
Proceeds from repayments of investment securities:    
Available-for-sale 28,253 18,245
Held-to-maturity 1,016 1,352
Purchases of investment securities:    
Available-for-sale (61,162) (34,289)
Held-to-maturity 0 0
Net redemption of restricted equity securities 330 182
Net increase in lending activities (22,414) (3,223)
Purchases of premises and equipment (1,953) (636)
Proceeds from the sale of premises and equipment   25
Proceeds from sale of other real estate owned 463 321
Net cash used in investing activities (4,486) (13,039)
Cash flows from financing activities:    
Net increase (decrease) in deposits (424) 43,866
Repayment of long-term debt (1,450) (1,791)
Net increase (decrease) in short-term borrowings 6,303 (7,964)
Redemption of common stock   (70)
Retirement of stock options   (95)
Purchase of treasury stock   (70)
Cash dividends paid (4,679) (4,681)
Net cash provided by (used in) financing activities (250) 29,195
Net increase (decrease) in cash and cash equivalents 4,131 26,098
Cash and cash equivalents at beginning of year 31,426 51,310
Cash and cash equivalents at end of year 35,557 77,408
Cash paid during the period for:    
Interest 3,114 3,557
Income taxes 1,800 1,300
Noncash items:    
Transfers of loans to other real estate 247 258
Retirement of treasury shares   6,300
Fair value of assets acquired:    
Loans, net 157 1,417
Premises and equipment (50) (50)
Core deposit and other intangible assets (600) (676)
Fair value of assets acquired, net (493) 691
Fair value of liabilities assumed:    
Deposits 367 571
Long-term debt 27 27
Fair value of liabilities assumed, net $ 394 $ 598