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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating activities    
Net income $ 7,867 $ 10,941
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income taxes, net (1,603) (9)
Impairment of tax credit investments 338 3,520
Provision for loan and lease losses 5,699 6,824
Depreciation, amortization and accretion, net 1,148 1,103
Share-based compensation 811 858
Increase in value of bank-owned life insurance policies (940) (730)
Origination of loans for sale (24,606) (54,794)
Sale of loans originated for sale 27,244 59,263
Gain on sale of loans originated for sale 1,527 4,394
Net loss on foreclosed properties, including impairment valuation 0 (93)
Excess tax benefit from share-based compensation (59) (138)
Returns on investments in limited partnerships 92 250
Net increase in accrued interest receivable and other assets (1,759) (2,813)
Net (decrease) increase in accrued interest payable and other liabilities 6,739 (2,789)
Net cash provided by operating activities 19,444 17,185
Investing activities    
Proceeds from maturities, redemptions and paydowns of available-for-sale securities 29,802 32,555
Proceeds from maturities, redemptions and paydowns of held-to-maturity securities 2,723 2,906
Proceeds from sale of available-for-sale securities 11,702 2,190
Purchases of available-for-sale securities (27,125) (48,229)
Purchases of held-to-maturity securities (3,016) (714)
Proceeds from sale of foreclosed properties 0 57
Net increase in loans and leases (22,530) (29,962)
Investments in limited partnerships 500 750
Returns of investments in limited partnerships 0 541
Investment in historic development entities (417) (1,488)
Investment in Federal Home Loan Bank and Federal Reserve Bank Stock (12,223) (388)
Proceeds from the sale of Federal Home Loan Bank Stock 9,271 1,066
Purchases of leasehold improvements and equipment, net (942) (519)
Net cash used in investing activities (13,255) (42,735)
Financing activities    
Net decrease in deposits (115,107) (10,924)
Repayment of Federal Home Loan Bank advances 470,416 63,100
Proceeds from Federal Home Loan Bank Borrowings 580,415 59,600
Proceeds from Issuance of Subordinated Long-term Debt 9,090 0
Early Repayment of Subordinated Debt 7,889 0
Net (decrease) increase in other borrowed funds (2,904) (1,240)
Cash dividends paid (3,399) (3,132)
Purchase of treasury stock (300) (454)
Net cash used in financing activities (10,510) (19,250)
Net decrease in cash and cash equivalents (4,321) (44,800)
Cash and cash equivalents at the beginning of the period 77,517 113,564
Cash and cash equivalents at the end of the period 73,196 68,764
Cash paid during the period for:    
Interest paid on deposits and borrowings 10,504 11,058
Income taxes paid 490 5,122
Non-cash investing and financing activities:    
Transfer of loans from held-to-maturity to held-for-sale 8,366 11,504
Transfer from premises and equipment to foreclosed properties $ 1,113 $ 0