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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities      
Net income $ 16,514 $ 14,139 $ 13,746
Adjustments to reconcile net income to net cash provided by operating activities:      
Deferred income taxes, net 1,158 1,389 2,428
Provision for loan and lease losses 3,386 1,236 (959)
Depreciation, amortization and accretion, net (90) 1,870 2,322
Share-based compensation 1,063 887 660
Increase in cash surrender value of bank-owned life insurance (960) (862) (845)
Origination of loans for sale (70,254) (9,392) 0
Sale of loans originated for sale 77,333 6,651 0
Gain on sale of loans originated for sale (4,728) (392) 0
Net gain on foreclosed properties, including impairment valuation (171) (10) (117)
Excess tax benefit from share-based compensation (267) (584) (365)
(Increase) decrease in accrued interest receivable and other assets (1,033) (5,448) 2,713
Increase (decrease) in accrued interest payable and other liabilities 1,269 2,390 (3,681)
Net cash provided by (used in) operating activities 23,220 11,874 15,902
Investing activities      
Proceeds from maturities, redemptions and paydowns of available-for-sale securities 42,899 44,148 62,520
Proceeds from maturities, redemptions and paydowns of held-to-maturity securities 4,349 2,211 0
Purchases of available-for-sale securities (40,721) (52,947) (48,048)
Proceeds from sale of foreclosed properties 528 255 2,739
Net increase in loans and leases (155,204) (299,095) (70,912)
Net cash associated with the Alterra Bank acquisition 0 (11,957) 0
Investment in community historic and development entities (578) (7,500) 0
Investments in limited partnerships 0 (1,000) (1,250)
Distributions from limited partnerships 459 722 672
Investment in FHLB and FRB Stock (1,352) (1,459) (1,185)
Proceeds from sale of FHLB Stock 849 373 1,074
Purchases of leasehold improvements and equipment, net (789) (3,190) (531)
Proceeds from sale of leasehold improvements and equipment, net 0 0 30
Increase in bank owned life insurance policies 0 (3,285) 0
Premium payment on bank owned life insurance policies (25) (25) (25)
Net cash (used in) provided by investing activities (149,585) (332,749) (54,916)
Financing activities      
Net increase in deposits 139,469 308,413 37,601
Repayment of FHLB advances (1,000) 0 (469)
Increase in FHLB advances 0 9,383 0
Net increase (decrease) in short-term borrowed funds 1,500 1,000 0
Net increase in long-term borrowed funds 918 675 0
Proceeds from issuance of subordinated notes payable, net of issuance costs 0 14,469 0
Repayment of subordinated notes payable 0 (4,000) 0
Excess tax benefit from share-based compensation 267 584 365
Common stock issuance 0 16,557 0
Cash dividends paid (3,816) (3,396) (2,475)
Exercise of stock options 300 936 1,474
Purchase of treasury stock (946) (1,795) (1,782)
Net cash provided by (used in) financing activities 136,692 342,826 34,714
Net (decrease) increase in cash and cash equivalents 10,327 21,951 (4,300)
Cash and cash equivalents at the beginning of the period 103,237 81,286 85,586
Cash and cash equivalents at the end of the period 113,564 103,237 81,286
Supplementary cash flow information      
Interest paid on deposits and borrowings 13,639 11,048 12,365
Income taxes paid 5,668 7,221 6,089
Transfer of securities from available-for-sale to held-to-maturity 0 44,587 0
Transfer of loans from held-to-maturity to held-for-sale 4,336 0 0
Unrealized loss on transfer of securities from available-for-sale to held-to-maturity 0 874 0
Foreclosed properties acquired in acquisition, at fair value 0 1,605 0
Transfer to foreclosed properties $ 341 $ 0 $ 1,381