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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 5,359 $ 5,529
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales of loans originated for sale (206) (296)
Gain on sales of foreclosed assets held for resale, including writedowns (36) (23)
Gain on sale of premises and equipment 0 (449)
Earnings on investment in bank-owned life insurance (531) (558)
Restricted stock compensation expense 120 59
Depreciation and amortization 942 873
Provision for loan losses 0 0
Net amortization of investment securities premiums 264 263
(Increase) decrease in accrued interest receivable (103) 144
Increase (decrease) in accrued interest payable 103 (50)
Mortgage loans originated for sale (12,102) (18,017)
Proceeds from sales of loans originated for sale 12,800 19,193
Increase in other assets (1,102) (467)
Increase in other liabilities 1,688 912
Net Cash Provided by Operating Activities 7,196 7,113
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturities of investment securities held to maturity 5,438 11,732
Proceeds from maturities of investment securities available for sale 13,456 14,323
Purchase of investment securities available for sale (4,024) (4,052)
(Purchase) redemption of restricted investment in bank stocks (550) 63
Net increase in loans (61,811) (14,321)
Capital expenditures (803) (1,699)
Proceeds from sales of premises and equipment 6 1,929
Proceeds from sales of foreclosed real estate 229 212
Net Cash (Used in) Provided by Investing Activities (48,059) 8,187
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in demand deposits 9,979 11,142
Net increase (decrease) in time certificates of deposits and interest bearing deposits 22,554 (1,895)
Net (decrease) increase in short-term borrowings (3,753) 988
Proceeds from long-term borrowings 24,600 9,000
Repayments on long-term borrowings (3,000) (5,000)
Dividends paid (2,426) (2,417)
Common stock issued 258 343
Net Cash Provided by Financing Activities 48,212 12,161
Net Increase in Cash and Cash Equivalents 7,349 27,461
CASH AND CASH EQUIVALENTS — BEGINNING 18,931 18,757
CASH AND CASH EQUIVALENTS — ENDING 26,280 46,218
Interest paid 2,095 1,987
Income taxes paid 1,750 2,000
Loans transferred to foreclosed assets held for resale and other foreclosed transactions $ 0 $ 338