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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Operating activities    
Net income $ 12,431 $ 10,395
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income taxes, net 319 283
Provision for loan and lease losses 1,491 0
Depreciation, amortization and accretion, net (379) 1,324
Share-based compensation 717 618
Increase in cash surrender value of bank-owned life insurance (715) (630)
Origination of loans for sale 52,295 0
Sale of loans originated for sale 53,612 0
Gain on sale of loans originated for sale 614 0
Gain (Loss) on Sale of Loans and Leases 2,887 0
Net (gain) loss on foreclosed properties, including impairment valuation (178) (5)
Excess tax benefit from share-based compensation (253) (226)
Decrease (increase) in accrued interest receivable and other assets (1,107) (396)
Increase (decrease) in accrued interest payable and other liabilities 1,342 (124)
Net cash provided by operating activities 12,098 11,239
Investing activities    
Proceeds from maturities, redemptions and paydowns of available-for-sale securities 32,930 34,185
Proceeds from maturities, redemptions and paydowns of held-to-maturity securities 3,253 1,231
Purchases of available-for-sale securities (32,614) (40,310)
Proceeds from sale of foreclosed properties 528 232
Net increase in loans and leases (96,898) (60,836)
Payments to Acquire Limited Partnership Interests 0 500
Distributions from limited partnerships 332 676
Investment in FHLB and FRB Stock (1,349) (467)
Proceeds from sale of FHLB Stock 846 373
Purchases of leasehold improvements and equipment, net (498) (285)
Net cash used in investing activities (93,470) (65,701)
Financing activities    
Net increase in deposits 101,529 139,345
Net increase in short-term borrowed funds 2,500 0
Proceeds from issuance of subordinated notes payable 0 15,000
Repayment of subordinated notes payable 0 (4,000)
Excess tax benefit from share-based compensation 253 226
Cash dividends paid (2,859) (2,485)
Exercise of stock options 300 48
Purchase of treasury stock (917) (460)
Net cash provided by financing activities 100,806 147,674
Net (decrease) increase in cash and cash equivalents 19,434 93,212
Cash and cash equivalents at the beginning of the period 103,237 81,286
Cash and cash equivalents at the end of the period 122,671 174,498
Supplementary cash flow information    
Interest paid on deposits and borrowings 9,817 7,575
Income taxes paid 3,793 5,128
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