XML 21 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating activities      
Net income $ 11,905 $ 14,909 $ 16,514
Adjustments to reconcile net income to net cash provided by operating activities:      
Deferred income taxes, net 1,747 (1,108) 1,158
Impairment of tax credit investments 2,784 3,691 0
Provision for loan and lease losses 6,172 7,818 3,386
Depreciation, amortization and accretion, net 1,562 1,515 (90)
Share-based compensation 1,078 994 1,063
Net loss (gain) on sale of available-for-sale securities 403 (10) 0
Gain on sale of historic development entity state tax credit (210) 0 0
Increase in value of bank-owned life insurance policies (1,250) (974) (960)
Origination of loans for sale (69,966) (71,965) (70,254)
Sale of loans originated for sale 70,500 78,546 77,333
Gain on sale of loans originated for sale (1,617) (4,990) (4,728)
Net (gain) loss on foreclosed properties, including impairment valuation (143) 122 (171)
Excess tax benefit from share-based compensation (66) (142) 0
Returns on investments in limited partnerships 459 250 0
Net increase in accrued interest receivable and other assets (2,857) (3,861) (1,033)
Net increase in accrued interest payable and other liabilities 1,907 1,367 1,002
Net cash provided by operating activities 22,408 26,162 23,220
Investing activities      
Proceeds from maturities, redemptions and paydowns of available-for-sale securities 38,241 43,745 42,899
Proceeds from maturities, redemptions and paydowns of held-to-maturity securities 3,808 3,882 4,349
Proceeds from sale of available-for-sale securities 40,144 5,227 0
Purchases of available-for-sale securities (60,399) (56,356) (40,721)
Purchases of held-to-maturity securities (3,016) (5,191) 0
Proceeds from sale of foreclosed properties 1,659 83 528
Net increase in loans and leases (59,033) (22,385) (155,204)
Investments in limited partnerships (500) (750) 0
Returns of investments in limited partnerships 97 541 459
Investment in historic development entities (5,312) (3,456) (578)
Proceeds from sale of historic development entity state tax credit 2,764 0 0
Investment in Federal Home Loan Bank and Federal Reserve Bank Stock (16,275) (1,308) (1,352)
Proceeds from the sale of Federal Home Loan Bank Stock 12,736 2,020 849
Purchases of leasehold improvements and equipment, net (1,242) (584) (789)
Purchases of bank owned life insurance policies 0 (9,750) 0
Premium payment on bank owned life insurance policies (25) (26) (25)
Net cash used in investing activities (46,353) (44,308) (149,585)
Financing activities      
Net (decrease) increase in deposits (144,486) (38,256) 139,469
Repayment of Federal Home Loan Bank advances (656,916) (4,500) (1,000)
Proceeds from Federal Home Loan Bank advances 806,916 30,000 0
Net (decrease) increase in short-term borrowed funds (1,000) (1,500) 1,500
Net (decrease) increase in long-term borrowed funds (1,901) 998 918
Proceeds from issuance of subordinated notes payable 9,090 0 0
Repayment of subordinated notes payable (7,875) 0 0
Excess tax benefit from share-based compensation 0 0 267
Cash dividends paid (4,538) (4,176) (3,816)
Exercise of stock options 0 0 300
Purchase of treasury stock (323) (467) (946)
Net cash (used in) provided by financing activities (1,033) (17,901) 136,692
Net (decrease) increase in cash and cash equivalents (24,978) (36,047) 10,327
Cash and cash equivalents at the beginning of the period 77,517 113,564  
Cash and cash equivalents at the end of the period 52,539 77,517 113,564
Supplementary cash flow information      
Interest paid on deposits and borrowings 14,872 14,790 13,639
Income taxes paid 2,160 5,554 5,668
Transfer of loans from held-to-maturity to held-for-sale 12,896 11,504 4,336
Transfer from premises and equipment to foreclosed properties $ 1,113 $ 0 $ 0