XML 17 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net income $ 11,811 $ 10,459
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment 1,140 884
Amortization of deferred loan costs 482 427
Amortization of intangibles 450 526
Amortization of low income housing partnerships 233 235
Provision for loan losses 2,100 2,400
Net (gain) loss on sale of other real estate owned 19 (5)
Loans originated for sale (5,932) (10,411)
Proceeds from sale of loans originated for sale 6,074 10,520
Net gain on sale of loans originated for sale (36) (109)
Net amortization of investment securities 1,197 1,469
Net gain on sale of loans (291)  
Net gain on sale of merchant services business   (2,278)
Life insurance investment income (378) (384)
Stock based compensation 105 70
Net change in:    
Accrued interest receivable 134 22
Other assets (1,187) (2,136)
Accrued interest payable 41 (31)
Other liabilities (914) (116)
Net cash provided by operating activities 15,048 11,542
Proceeds from repayments of investment securities:    
Available-for-sale 15,445 21,594
Held-to-maturity 485 637
Purchases of investment securities:    
Available-for-sale (22,627) (18,958)
Net purchase of restricted equity securities (2,794) (703)
Proceeds from sale of student loan portfolio 3,171  
Net increase in lending activities (68,291) (65,625)
Purchases of premises and equipment (1,071) (3,516)
Proceeds from the sale of premises and equipment 340  
Proceeds from the sale of merchant services business   2,300
Proceeds from sale of other real estate owned 200 272
Net cash used in investing activities (75,142) (63,999)
Cash flows from financing activities:    
Net increase in deposits (157) 50,676
Repayment of long-term debt (823) (974)
Net increase (decrease) in short-term borrowings 63,775 8,800
Cash dividends paid (4,810) (4,585)
Net cash provided by (used in) financing activities 57,985 53,917
Net (decrease) increase in cash and cash equivalents (2,109) 1,460
Cash and cash equivalents at beginning of period 37,488 39,941
Cash and cash equivalents at end of period 35,379 41,401
Cash paid during the period for:    
Interest 5,881 4,113
Income taxes 2,050 3,100
Noncash items:    
Transfers of loans to other real estate $ 495 $ 279