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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Dec. 31, 2015
Cash Flows from Operating Activities:          
Net income $ 4,837 $ 4,286 $ 10,483 $ 8,743 $ 18,441
Adjustments to reconcile net income to net cash provided by operating activities:          
Provision for (reversal of) losses on off-balance sheet commitments 150 (109) 150 (310)  
Compensation expense via common stock for director fees     97 138  
Stock-based compensation expense     478 308  
Excess tax benefits from exercised or vesting of stock based-awards     (113) (141)  
Amortization of core deposit intangible     267 309  
Amortization of investment security premiums, net of accretion of discounts     1,466 1,217  
Accretion of discount on acquired loans     (832) (1,076)  
Accretion of discount on subordinated debentures     98 106  
Net amortization of deferred loan origination costs/fees     43 (294)  
Write-down of other real estate owned     13 40  
Gain on sale of investment securities     (394) (8)  
Depreciation and amortization 441 650 894 1,071  
Loss on disposal of premises and equipment     0 4  
Earnings on bank-owned life insurance policies (209) (203) (410) (406)  
Net change in operating assets and liabilities:          
Interest receivable     676 109  
Interest payable     (50) (4)  
Deferred rent and other rent-related expenses     (262) 86  
Other assets     1,763 1,504  
Other liabilities     (3,872) (2,271)  
Total adjustments     12 382  
Net cash provided by operating activities     10,495 9,125  
Cash Flows from Investing Activities:          
Purchase of held-to-maturity securities     (2,424) (2,375)  
Purchase of available-for-sale securities     (19,916) (76,708)  
Proceeds from sale of available-for-sale securities 13,688 1,559 68,673 1,559  
Purchase of bank owned life insurance policies     (1,864) 0  
Proceeds from paydowns/maturity of held-to-maturity securities     13,243 23,723  
Proceeds from paydowns/maturity of available-for-sale securities     49,576 20,814  
Proceeds from the sale of loan     0 1,502  
Loans originated and principal collected, net     4,996 22,818  
Purchase of FHLB stock     (1,792) (136)  
Purchase of premises and equipment     (239) (889)  
Cash paid for low income housing tax credit investment     (225) (434)  
Net cash provided by (used in) investing activities     110,028 (10,126)  
Cash Flows from Financing Activities:          
Net (decrease) increase in deposits     (22,611) 78,864  
Proceeds from stock options exercised     1,087 774  
Proceeds from stock issued under employee and director stock purchase plans     27 8  
Repayment of Federal Home Loan Bank borrowings     (67,000) 0  
Cash dividends paid on common stock     (3,044) (2,620)  
Excess tax benefits from exercised or vesting of stock based-awards     113 141  
Net cash (used in) provided by financing activities     (91,428) 77,167  
Net increase in cash and cash equivalents     29,095 76,166  
Cash and cash equivalents at beginning of period     26,343 41,367 41,367
Cash and cash equivalents at end of period $ 55,438 $ 117,533 55,438 117,533 $ 26,343
Supplemental disclosure of cash flow information:          
Cash paid for interest     1,336 1,035  
Cash paid for income taxes     7,095 5,270  
Supplemental disclosure of non-cash investing and financing activities:          
Change in unrealized gain on available-for-sale securities     4,648 (494)  
Subscription in low income housing tax credit investment     0 1,023  
Stock issued in payment of director fees     $ 137 $ 138