XML 20 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 10,420 $ 5,359
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales of loans originated for sale (272) (206)
Loss (gain) on sales of foreclosed assets held for resale, including writedowns 45 (36)
Earnings on investment in bank-owned life insurance (538) (531)
Gain on sales or calls of securities (13) 0
Loss on equity securities 27 0
Restricted stock compensation expense 186 120
Depreciation and amortization 1,418 942
Provision for loan losses 570 0
Net amortization of investment securities premiums 238 264
Increase in accrued interest receivable (698) (103)
Increase in accrued interest payable 284 103
Mortgage loans originated for sale (15,975) (12,102)
Proceeds from sales of loans originated for sale 16,718 12,800
Decrease (increase) in other assets 440 (943)
Decrease (increase) in deferred tax expense 396 (159)
Increase in other liabilities 1,334 1,688
Net Cash Provided by Operating Activities 14,580 7,196
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturities of investment securities held to maturity 4,932 5,438
Proceeds from maturities of investment securities available for sale 7,418 13,456
Proceeds from sales of investment securities available for sale 1,446 0
Purchase of investment securities available for sale (11,459) (4,024)
Purchase of restricted investment in bank stocks (76) (550)
Net increase in loans (4,266) (61,811)
Purchase of bank-owned life insurance (500) 0
Insurance book- acquisition (600) 0
Capital expenditures (655) (803)
Proceeds from sales of premises and equipment 0 6
Proceeds from sales of foreclosed real estate 339 229
Net Cash Used in Investing Activities (3,421) (48,059)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in demand deposits 8,802 9,979
Net increase in time certificates of deposits and interest bearing deposits 26,681 22,554
Net decrease in short-term borrowings (10,490) (3,753)
Proceeds from long-term borrowings 8,716 24,600
Repayments on long-term borrowings (13,500) (3,000)
Dividends paid (3,023) (2,426)
Common stock issued 267 258
Net Cash Provided by Financing Activities 17,453 48,212
Net Increase in Cash and Cash Equivalents 28,612 7,349
CASH AND CASH EQUIVALENTS — BEGINNING 34,441 18,931
CASH AND CASH EQUIVALENTS — ENDING 63,053 26,280
Supplemental disclosures of cash flow information    
Interest paid 3,182 2,095
Income taxes paid 1,700 1,750
Loans transferred to foreclosed assets held for resale and other foreclosed transactions $ 235 $ 0