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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating activities    
Net income $ 8,050 $ 6,842
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income taxes, net 490 443
Provision for loan and lease losses 1,204 89
Depreciation, amortization and accretion, net (604) 870
Share-based compensation 449 389
Increase in cash surrender value of bank-owned life insurance (472) (416)
Origination of loans for sale 32,473 0
Sale of loans originated for sale 34,256 0
Gain on sale of loans originated for sale 1,717 0
Net (gain) loss on foreclosed properties, including impairment valuation (15) 4
Excess tax benefit from share-based compensation (80) (38)
Decrease (increase) in accrued interest receivable and other assets 192 (224)
Increase (decrease) in accrued interest payable and other liabilities 1,514 (1,328)
Net cash provided by operating activities 10,794 6,631
Investing activities    
Proceeds from maturities, redemptions and paydowns of available-for-sale securities 21,777 25,038
Proceeds from maturities, redemptions and paydowns of held-to-maturity securities 2,175 290
Purchases of available-for-sale securities (24,189) (31,648)
Proceeds from sale of foreclosed properties 143 0
Net increase in loans and leases (69,107) (26,760)
Distributions from limited partnerships 332 203
Investment in FHLB and FRB Stock (928) (467)
Proceeds from sale of FHLB Stock 377 373
Purchases of leasehold improvements and equipment, net (420) (159)
Net cash used in investing activities (69,840) (33,130)
Financing activities    
Net increase in deposits 33,106 36,842
Proceeds from FHLB advances 13,000 0
Net increase in short-term borrowed funds 500 0
Repayment of subordinated notes payable 0 (4,000)
Excess tax benefit from share-based compensation 80 38
Cash dividends paid (1,908) (1,657)
Exercise of stock options 300 48
Purchase of treasury stock (421) (81)
Net cash provided by financing activities 44,657 31,190
Net (decrease) increase in cash and cash equivalents (14,389) 4,691
Cash and cash equivalents at the beginning of the period 103,237 81,286
Cash and cash equivalents at the end of the period 88,848 85,977
Supplementary cash flow information    
Interest paid on deposits and borrowings 6,574 5,160
Income taxes paid 1,469 2,867
Transfer of securities from available-for-sale to held-to-maturity 0 44,587
Unrealized loss on transfer from available-for-sale to held-to-maturity 0 (874)
Transfer to foreclosed properties $ 289 $ 0