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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash Flows from Operating Activities:      
Net income $ 23,134 $ 18,441 $ 19,771
Adjustments to reconcile net income to net cash provided by operating activities:      
(Reversal of) provision for loan losses (1,850) 500 750
Provision for (reversal of) losses on off-balance sheet commitments 150 (263) 334
Compensation expense--common stock for director fees 180 274 270
Stock-based compensation expense 985 636 446
Excess tax benefits from exercised stock options (161) (187) (118)
Amortization of core deposit intangible 533 619 771
Amortization of investment security premiums, net of accretion of discounts 3,212 2,825 2,759
Accretion of discount on acquired loans (1,775) (1,883) (3,906)
Accretion of discount on subordinated debentures 191 210 216
Net amortization of deferred loan origination costs/fees 114 (281) (463)
Write-down of other real estate owned 13 40 0
Gain on sale of investment securities (425) (79) (93)
Other-than-temporary impairment on securities available-for-sale 0 0 13
Depreciation and amortization 1,822 1,968 1,585
Loss on disposal of premises and equipment 3 4 0
Earnings on bank owned life insurance policies (844) (814) (841)
Net change in operating assets and liabilities:      
Interest receivable 324 (734) (143)
Interest payable (53) (26) (40)
Deferred rent and other rent-related expenses (254) (4) 160
Other assets 257 1,081 (184)
Other liabilities (110) 1,355 (2,430)
Net cash provided by operating activities 25,446 23,682 18,857
Cash Flows from Investing Activities:      
Purchase of held-to-maturity securities (2,424) (2,375) 0
Purchase of available-for-sale securities (161,374) (287,144) (18,206)
Proceeds from sale of available-for-sale securities 68,673 2,099 2,436
Proceeds from sale of held-to-maturity securities 1,265 1,015 2,146
Proceeds from paydowns/maturities of held-to-maturity securities 25,779 47,181 16,793
Proceeds from paydowns/maturities of available-for-sale securities 129,669 64,839 46,371
Loans originated and principal collected, net (32,005) (88,123) (88,872)
Purchase of bank owned life insurance policies (2,133) 0 0
Purchase of premises and equipment (1,040) (1,418) (2,334)
Proceeds from sale of repossessed assets 0 1,502 0
Purchase of Federal Home Loan Bank stock (1,791) (136) (492)
Cash paid for low income housing investment (301) (718) (494)
Net cash provided by (used in) investing activities 24,318 (263,278) (42,652)
Cash Flows from Financing Activities:      
Net increase (decrease) in deposits 44,474 176,607 (35,483)
Proceeds from stock options exercised 1,227 1,139 1,452
Federal Home Loan Bank (repayments) borrowings (67,000) 52,000 0
Cash dividends paid on common stock (6,223) (5,390) (4,733)
Proceeds from stock issued under employee and director stock purchase plans 58 29 35
Excess tax benefits from exercised stock options 161 187 118
Net cash (used in) provided by financing activities (27,303) 224,572 (38,611)
Net increase (decrease) in cash and cash equivalents 22,461 (15,024) (62,406)
Cash and cash equivalents at beginning of period 26,343 41,367 103,773
Cash and cash equivalents at end of period 48,804 26,343 41,367
Supplemental disclosure of cash flow items, non-cash investing and financing activities:      
Cash paid in interest 2,131 2,066 2,185
Cash paid in income taxes 13,365 9,068 11,290
Change in unrealized gain on available-for-sale securities (6,052) (1,426) 2,963
Stock issued in payment of director fees 234 275 236
Subscription in low income housing tax credit investment 0 1,023 1,000
Securities transferred from available-for-sale to held-to-maturity 0 0 14,297
Transfer of loan to loans held-for-sale at fair value $ 0 $ 1,502 $ 0