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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Dec. 31, 2014
Cash Flows from Operating Activities:          
Net income $ 4,773 $ 5,378 $ 13,516 $ 15,079 $ 19,771
Adjustments to reconcile net income to net cash provided by operating activities:          
Provision for loan losses 0 0 0 750  
Provision for (reversal of) losses on off-balance sheet commitments 324 13 14 (2)  
Compensation expense - common stock for director fees     207 170  
Stock-based compensation expense     477 336  
Excess tax benefits from exercised stock options     (150) (104)  
Amortization of core deposit intangible     464 578  
Amortization of investment security premiums, net of accretion of discounts     2,038 1,982  
Accretion of discount on acquired loans     (1,569) (3,311)  
Accretion of discount on subordinated debentures     158 162  
Net amortization of deferred loan origination costs/fees     (374) (382)  
Write-down of other real estate owned     40 0  
Gain on sale of investment securities     (80) (93)  
Depreciation and amortization 441 383 1,512 1,202  
Loss on disposal of premises and equipment     4 0  
Earnings on bank-owned life insurance policies (204) (208) (610) (632)  
Net change in operating assets and liabilities:          
Interest receivable     303 122  
Interest payable     (13) (44)  
Deferred rent and other rent-related expenses     42 165  
Other assets     1,930 (44)  
Other liabilities     (819) (1,847)  
Total adjustments     3,574 (992)  
Net cash provided by operating activities     17,090 14,087  
Cash Flows from Investing Activities:          
Purchase of held-to-maturity securities     (2,375) 0  
Purchase of available-for-sale securities     (189,755) (16,353)  
Proceeds from sale of available-for-sale securities 0 413 1,559 2,435  
Proceeds from sale of held-to-maturity securities 1,015 0 1,015 2,146  
Proceeds from paydowns/maturity of held-to-maturity securities     30,529 14,738  
Proceeds from paydowns/maturity of available-for-sale securities     54,966 33,320  
Proceeds from the sale of loan     1,502 0  
Loans originated and principal collected, net     403 (88,028)  
Purchase of FHLB stock     (136) (492)  
Purchase of premises and equipment     (1,194) (1,369)  
Cash paid for low income housing tax credit investment     (645) (208)  
Net cash used in investing activities     (104,131) (53,811)  
Cash Flows from Financing Activities:          
Net increase (decrease) in deposits     83,863 (15,478)  
Proceeds from stock options exercised     888 1,146  
Proceeds from stock issued under employee and director stock purchase plans     24 31  
Cash dividends paid on common stock     (3,936) (3,428)  
Excess tax benefits from exercised stock options     150 104  
Net cash provided by (used in) financing activities     80,989 (17,625)  
Net decrease in cash and cash equivalents     (6,052) (57,349)  
Cash and cash equivalents at beginning of period     41,367 103,773 103,773
Cash and cash equivalents at end of period $ 35,315 $ 46,424 35,315 46,424 $ 41,367
Supplemental disclosure of cash flow information:          
Cash paid for interest     1,554 1,660  
Cash paid for income taxes     6,603 6,940  
Supplemental disclosure of non-cash investing and financing activities:          
Change in unrealized gain on available-for-sale securities     (1,029) (2,066)  
Securities transferred from available-for-sale to held-to-maturity     0 14,297  
Transfer of loan to loans held-for-sale at fair value     1,502 0  
Subscription in low income housing tax credit investment     1,023 1,000  
Stock issued in payment of director fees     $ 275 $ 236