XML 17 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income $ 8,122 $ 8,295
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales of securities (122) (323)
Gain on sales of loans 0 0
Loss on disposal of fixed assets 2 55
Loss (gain) on sale on foreclosed assets 1 (78)
Writedowns on foreclosed assets 262 173
Share-based compensation expense 169 18
Provision for loan losses 0 0
Depreciation 1,209 1,119
Net accretion on purchased loans (70) (526)
Net amortization on securities premiums and discounts 3,312 3,384
Decrease in unearned net loan fees 482 247
Decrease (increase) in cash surrender value of life insurance policies 311 (731)
Loss from sale of loans 0 0
Decrease in interest receivable and other assets 67 246
Increase in other liabilites (3,959) (640)
Deferred income tax provision 310 470
Excess tax benefit from equity based compensation 85 40
Net cash provided by operating activities 10,181 11,749
Cash flows from investing activities:    
Maturities of securities available for sale 30 290
Proceeds from sales/calls of securities available for sale 5,365 22,538
Purchases of securities available for sale (70,675) (67,813)
Principal pay downs on securities available for sale 45,536 44,056
Purchases of FHLB stock (399) (504)
Net increase in loans receivable, net (24,377) (103,829)
Purchases of premises and equipment, net (1,901) (1,672)
Proceeds from sale premises and equipment 231 55
Proceeds from sales of foreclosed assets 729 981
Net cash used in investing activities (45,461) (105,898)
Cash flows from financing activities:    
Increase in deposits 21,446 104,895
Increase (decrease) in borrowed funds 16,400 (10,500)
Increase in Fed funds purchased 4,100 0
Increase in repurchase agreements 789 4,021
Cash dividends paid (3,185) (2,730)
Repurchases of common stock 0 (5,251)
Stock options exercised 233 349
Excess tax benefit from equity based compensation (85) (40)
Net cash provided by financing activities 39,698 90,744
Increase (decrease) in cash and due from banks 4,418 (3,405)
Cash and cash equivalents, Beginning of period 48,623 50,095
Cash and cash equivalents, End of period $ 53,041 $ 46,690