XML 23 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating activities      
Net income $ 16,303 $ 11,905 $ 14,909
Adjustments to reconcile net income to net cash provided by operating activities:      
Deferred income taxes, net (432) 1,747 (1,108)
Impairment of tax credit investments 2,083 2,784 3,691
Provision for loan and lease losses 5,492 6,172 7,818
Depreciation, amortization and accretion, net 1,477 1,562 1,515
Share-based compensation 1,004 1,078 994
Net loss (gain) on sale of available-for-sale securities 4 403 (10)
Gain on sale of historic development entity state tax credit 0 (210) 0
Increase in value of bank-owned life insurance policies (1,191) (1,250) (974)
Origination of loans for sale (91,122) (69,966) (71,965)
Sale of loans originated for sale 89,480 70,500 78,546
Gain on sale of loans originated for sale (1,451) (1,617) (4,990)
Net loss (gain) on foreclosed properties, including impairment valuation 367 (143) 122
Loan servicing right impairment valuation 69 0 0
Excess tax benefit from share-based compensation (46) (66) (142)
Returns on investments in limited partnerships 413 459 250
Net increase in accrued interest receivable and other assets (4,428) (2,857) (3,861)
Net increase in accrued interest payable and other liabilities 7,672 1,907 1,367
Net cash provided by operating activities 25,694 22,408 26,162
Investing activities      
Proceeds from maturities, redemptions and paydowns of available-for-sale securities 33,225 38,241 43,745
Proceeds from maturities, redemptions and paydowns of held-to-maturity securities 4,860 3,808 3,882
Proceeds from sale of available-for-sale securities 6,207 40,144 5,227
Purchases of available-for-sale securities (52,763) (60,399) (56,356)
Purchases of held-to-maturity securities (4,867) (3,016) (5,191)
Proceeds from sale of foreclosed properties 357 1,659 83
Net increase in loans and leases (122,014) (59,033) (22,385)
Investments in limited partnerships (188) (500) (750)
Returns of investments in limited partnerships 316 97 541
Investment in historic development entities (905) (5,312) (3,456)
Distribution from historic development entities 69 0 0
Proceeds from sale of historic development entity state tax credit 0 2,764 0
Investment in Federal Home Loan Bank and Federal Reserve Bank Stock (9,018) (16,275) (1,308)
Proceeds from the sale of Federal Home Loan Bank Stock 7,448 12,736 2,020
Purchases of leasehold improvements and equipment, net (969) (1,242) (584)
Purchases of bank owned life insurance policies 0 0 (9,750)
Premium payment on bank owned life insurance policies (24) (25) (26)
Net cash used in investing activities (138,266) (46,353) (44,308)
Financing activities      
Net increase (decrease) in deposits 60,968 (144,486) (38,256)
Repayment of Federal Home Loan Bank advances (804,100) (656,916) (4,500)
Proceeds from Federal Home Loan Bank advances 895,100 806,916 30,000
Proceeds from issuance of subordinated notes payable 0 9,090 0
Repayment of subordinated notes payable 0 (7,875) 0
Net increase (decrease) in short-term borrowed funds 0 (1,000) (1,500)
Net increase (decrease) in long-term borrowed funds 60 (1,901) 998
Cash dividends paid (4,916) (4,538) (4,176)
Purchase of treasury stock (533) (323) (467)
Net cash provided by (used in) financing activities 146,579 (1,033) (17,901)
Net increase (decrease) in cash and cash equivalents 34,007 (24,978) (36,047)
Cash and cash equivalents at the beginning of the period 52,539 77,517 113,564
Cash and cash equivalents at the end of the period 86,546 52,539 77,517
Supplementary cash flow information      
Interest paid on deposits and borrowings 22,332 14,872 14,790
Income taxes paid 1,055 2,160 5,554
Transfer of loans from held-to-maturity to held-for-sale 0 12,896 11,504
Transfer of loans to foreclosed properties 2,202 0 0
Transfer from premises and equipment to foreclosed properties $ 0 $ 1,113 $ 0