XML 39 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Operating activities    
Net income $ 6,842 $ 6,377
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income taxes, net 443 809
Provision for loan and lease losses 89 134
Depreciation, amortization and accretion, net 870 1,323
Share-based compensation 389 291
Increase in cash surrender value of bank-owned life insurance (416) (419)
Net loss on foreclosed properties, including impairment valuation 4 49
Excess tax benefit from share-based compensation (38) (37)
(Increase) decrease in accrued interest receivable and other assets (224) 1,564
Decrease in accrued interest payable and other liabilities (1,328) (4,226)
Net cash provided by operating activities 6,631 5,865
Investing activities    
Proceeds from maturities of available-for-sale securities 25,038 37,576
Proceeds from maturities of held-to-maturity securities 290 0
Purchases of available-for-sale securities (31,648) (35,617)
Proceeds from sale of foreclosed properties 0 1,070
Net increase in loans and leases (26,760) (36,397)
Investment in limited partnerships 0 (500)
Distributions from limited partnerships 203 664
Investment in FHLB Stock (467) (1,185)
Proceeds from sale of FHLB Stock 373 500
Purchases of leasehold improvements and equipment, net (159) (406)
Net cash used in investing activities (33,130) (34,295)
Financing activities    
Net increase in deposits 36,842 50,725
Repayment of FHLB advances 0 (469)
Repayment of subordinated notes payable (4,000) 0
Excess tax benefit from share-based compensation 38 37
Cash dividends paid (1,657) (823)
Exercise of stock options 48 1,137
Purchase of treasury stock (81) (1,185)
Net cash provided by financing activities 31,190 49,422
Net increase in cash and cash equivalents 4,691 20,992
Cash and cash equivalents at the beginning of the period 81,286 85,586
Cash and cash equivalents at the end of the period 85,977 106,578
Supplementary cash flow information    
Interest paid on deposits and borrowings 5,160 6,313
Income taxes paid 2,867 3,411
Transfer of securities from available-for-sale to held-to-maturity 44,587 0
Unrealized loss on transfer from available-for-sale to held-to-maturity $ (874) $ 0