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Consolidated Statements of Cash Flows
$ in Thousands
9 Months Ended
Sep. 30, 2019
USD ($)
Sep. 30, 2018
USD ($)
Cash flows from operating activities:    
Net income $ 20,704 $ 18,528
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment 1,881 1,728
Amortization of right-of-use lease asset 293  
Amortization of deferred loan costs (159) 729
Amortization of intangibles 557 670
Amortization of low income housing partnerships 357 349
Provision for loan losses 2,100 3,150
Net unrealized loss on equity investment securities (6)  
Net loss on sale of other real estate owned 20 (17)
Loans originated for sale (11,945) (9,931)
Proceeds from sale of loans originated for sale 11,374 10,013
Net gain on sale of loans originated for sale (70) (74)
Net amortization of investment securities 1,279 1,718
Net gain on sale of investment securities available-for-sale (23)  
Net gain on sale of credit card loans held for sale   (291)
Life insurance investment income (567) (568)
Stock based compensation 397 188
Net change in:    
Accrued interest receivable 460 371
Other assets (4,633) 516
Accrued interest payable 266 248
Other liabilities 4,998 (2,967)
Net cash provided by operating activities 27,283 24,360
Cash flows from investing activities:    
Proceeds from sales of investment securities available-for-sale 9,677  
Proceeds from repayments of investment securities:    
Available-for-sale 45,790 24,087
Held-to-maturity 547 710
Purchases of investment securities:    
Available-for-sale (50,670) (32,723)
Net purchase of restricted equity securities 2,992 735
Proceeds from sale of student loan portfolio   5,103
Proceeds from sale of credit card loan portfolio   2,407
Net increase in lending activities (58,987) (96,916)
Purchases of premises and equipment (4,296) (1,979)
Proceeds from the sale of premises and equipment 21 341
Proceeds from investment in life insurance   304
Proceeds from sale of other real estate owned 111 582
Net cash used in investing activities (54,815) (97,349)
Cash flows from financing activities:    
Net increase (decrease) in deposits 126,263 108,846
Proceeds from long-term debt 16,000  
Repayment of long-term debt (1,397) (1,273)
Net (decrease) increase in short-term borrowings (86,500) (24,225)
Retirement of common stock (621)  
Cash dividends paid (7,546) (7,252)
Net cash provided by financing activities 46,199 76,096
Net increase in cash and cash equivalents 18,667 3,107
Cash and cash equivalents at beginning of period 32,616 37,488
Cash and cash equivalents at end of period 51,283 40,595
Cash paid during the period for:    
Interest 8,842 9,140
Income taxes 3,300 2,550
Noncash items:    
Transfers of loans to other real estate 253 $ 623
Initial recognition of right-of-use assets 6,523  
Initial recognition of lease liability $ 6,523