XML 20 R8.htm IDEA: XBRL DOCUMENT v3.3.0.814
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income $ 4,523 $ 4,139
Adjustments to reconcile net income to net cash from operating activities:    
Provision for loan losses 100 100
Depreciation 736 746
Amortization 1,111 1,156
Compensation expense on employee stock purchases and restricted stock units 69 27
Gains on sales of securities (208) (182)
Gains on sales of loans (1,120) (726)
Loans originated for sale (36,402) (20,892)
Proceeds from loan sales 37,093 20,506
Earnings on life insurance policies (562) (219)
Proceeds on bank-owned life insurance 461  
Gains on sales of other real estate owned (11) (22)
Write-downs of other real estate owned 108 154
Proceeds from sales of other real estate owned 299 761
Deferred federal income tax expense/(benefit) (209) (250)
Net changes in other assets (716) (724)
Net changes in other liabilities (452) 937
Net cash from operating activities 4,820 5,511
Securities available for sale:    
Sales 23,329 17,386
Maturities, prepayments and calls 12,469 8,637
Purchases (47,171) (30,211)
Loan originations and payments, net 2,733 (23,146)
Additions to premises and equipment (826) (615)
Net cash from investing activities (9,466) (27,949)
Cash flows from financing activities:    
Net change in deposits 32,268 4,423
Net change in repurchase agreements (19,705) (6,379)
Net change in federal funds purchased 1,171 2,149
Proceeds from Federal Home Loan Bank advances 116,575 56,700
Payments on Federal Home Loan Bank advances (128,098) (42,722)
Issuance of common stock 153 101
Repurchase of common stock (371) (69)
Cash dividends (1,610) (1,451)
Net cash from financing activities 383 12,752
Net change in cash and cash equivalents (4,263) (9,686)
Beginning cash and cash equivalents 16,650 20,479
Ending cash and cash equivalents 12,387 10,793
Supplemental disclosures of cash flow information:    
Cash paid for interest 766 980
Cash paid for income taxes 2,395 884
Loans transferred to other real estate owned $ 378 $ 521