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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Dec. 31, 2015
Cash Flows from Operating Activities:          
Net income $ 6,964 $ 4,773 $ 17,447 $ 13,516 $ 18,441
Adjustments to reconcile net income to net cash provided by operating activities:          
(Reversal of) provision for loan losses (1,550) 0 (1,550) 0  
Provision for losses on off-balance sheet commitments 0 324 150 14  
Compensation expense via common stock for director fees     146 207  
Stock-based compensation expense     710 477  
Excess tax benefits from exercised or vested stock-based awards     (119) (150)  
Amortization of core deposit intangible     400 464  
Amortization of investment security premiums, net of accretion of discounts     2,293 2,038  
Accretion of discount on acquired loans     (1,526) (1,569)  
Accretion of discount on subordinated debentures     145 158  
Net amortization of deferred loan origination costs/fees     100 (374)  
Write-down of other real estate owned     13 40  
Gain on sale of investment securities     (394) (80)  
Depreciation and amortization 449 441 1,343 1,512  
Loss on disposal of premises and equipment     3 4  
Earnings on bank-owned life insurance policies (216) (204) (626) (610)  
Net change in operating assets and liabilities:          
Interest receivable     998 303  
Interest payable     (49) (13)  
Deferred rent and other rent-related expenses     (287) 42  
Other assets     1,364 1,930  
Other liabilities     (246) (819)  
Total adjustments     2,868 3,574  
Net cash provided by operating activities     20,315 17,090  
Cash Flows from Investing Activities:          
Purchase of held-to-maturity securities     (2,424) (2,375)  
Purchase of available-for-sale securities     (138,432) (189,755)  
Proceeds from sale of available-for-sale securities 0 0 68,673 1,559  
Proceeds from sale of held-to-maturity securities 0 1,015 0 1,015  
Purchase of bank-owned life insurance policies     (2,133) 0  
Proceeds from paydowns/maturity of held-to-maturity securities     25,150 30,529  
Proceeds from paydowns/maturity of available-for-sale securities     110,978 54,966  
Proceeds from the sale of loan     0 1,502  
Loans originated and principal collected, net     (11,723) 403  
Purchase of FHLB stock     (1,792) (136)  
Purchase of premises and equipment     (652) (1,194)  
Cash paid for low income housing tax credit investment     (298) (645)  
Net cash provided by (used in) investing activities     47,347 (104,131)  
Cash Flows from Financing Activities:          
Net increase in deposits     73,243 83,863  
Proceeds from stock options exercised     1,087 888  
Proceeds from stock issued under employee and director stock purchase plans     49 24  
Repayment of Federal Home Loan Bank borrowings     (67,000) 0  
Cash dividends paid on common stock     (4,573) (3,936)  
Excess tax benefits from exercised or vested stock-based awards     119 150  
Net cash provided by financing activities     2,925 80,989  
Net increase (decrease) in cash and cash equivalents     70,587 (6,052)  
Cash and cash equivalents at beginning of period     26,343 41,367 41,367
Cash and cash equivalents at end of period $ 96,930 $ 35,315 96,930 35,315 $ 26,343
Supplemental disclosure of cash flow information:          
Cash paid for interest     1,741 1,554  
Cash paid for income taxes     9,095 6,603  
Supplemental disclosure of non-cash investing and financing activities:          
Change in unrealized gain on available-for-sale securities     3,817 (1,029)  
Transfer of loan to loans held-for-sale at fair value     0 1,502  
Subscription in low income housing tax credit investment     0 1,023  
Stock issued in payment of director fees     $ 234 $ 275