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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Dec. 31, 2015
Cash Flows from Operating Activities:      
Net income $ 5,646 $ 4,457 $ 18,441
Adjustments to reconcile net income to net cash provided by operating activities:      
Reversal of losses on off-balance sheet commitments 0 (201)  
Compensation expense - common stock for director fees 71 74  
Stock-based compensation expense 214 92  
Excess tax benefits from exercised or vesting of stock based-awards (79) (16)  
Amortization of core deposit intangible 133 155  
Amortization of investment security premiums, net of accretion of discounts 742 570  
Accretion of discount on acquired loans (428) (490)  
Accretion of discount on subordinated debentures 50 53  
Net amortization of deferred loan origination costs/fees 75 (164)  
Write-down of other real estate owned 0 40  
Gain on sale of investment securities (110) (8)  
Depreciation and amortization 453 421  
Earnings on bank-owned life insurance policies (201) (203)  
Net change in operating assets and liabilities:      
Interest receivable 724 456  
Interest payable 10 (5)  
Deferred rent and other rent-related expenses (51) (11)  
Other assets 1,348 674  
Other liabilities (999) (8)  
Total adjustments 1,952 1,429  
Net cash provided by operating activities 7,598 5,886  
Cash Flows from Investing Activities:      
Purchase of held-to-maturity securities 0 (2,375)  
Purchase of available-for-sale securities (3,636) (11,493)  
Proceeds from sale of available-for-sale securities 54,985 1,559  
Proceeds from paydowns/maturity of held-to-maturity securities 6,237 11,043  
Proceeds from paydowns/maturity of available-for-sale securities 32,548 7,133  
Loans originated and principal collected, net 10,821 18,149  
Purchase of premises and equipment (57) (414)  
Cash paid for low income housing tax credit investment (76) (218)  
Net cash provided by investing activities 100,822 23,384  
Cash Flows from Financing Activities:      
Net (decrease) increase in deposits (46,880) 33,501  
Proceeds from stock options exercised 956 312  
Proceeds from stock issued under employee and director stock purchase plans 20 5  
Repayment of borrowings (47,650) 0  
Cash dividends paid on common stock (1,518) (1,307)  
Excess tax benefits from exercised or vesting of stock based-awards 79 16  
Net cash (used in) provided by financing activities (94,993) 32,527  
Net increase in cash and cash equivalents 13,427 61,797  
Cash and cash equivalents at beginning of period 26,343 103,773 103,773
Cash and cash equivalents at end of period 39,770 165,570 $ 26,343
Supplemental disclosure of cash flow information:      
Cash paid for interest 498 534  
Cash paid for income taxes 505 30  
Supplemental disclosure of non-cash investing and financing activities:      
Change in unrealized gain on available-for-sale securities 2,813 1,309  
Subscription in low income housing tax credit investment 0 1,023  
Stock issued in payment of director fees $ 137 $ 138