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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating activities      
Net income $ 13,045 $ 13,036 $ 10,167
Adjustments to reconcile net income to cash provided by operating activities:      
Provision for loan losses 2,000 2,300 3,200
Depreciation and other amortization 1,460 1,251 1,310
Accretion and amortization of securities discounts and premiums, net 582 581 353
Gain on sale of investment securities available for sale (4) (431) (297)
Loss on sale of fixed assets 50
(Gain) loss on sale of other real estate owned 3 428 (63)
Write-down of other real estate owned 185 466 937
Compensation expense related to stock options and restricted stock grants 1,258 1,998 759
Gain on sale of loans held for sale (5,752) (6,553) (4,963)
Loans originated and held for sale (192,347) (251,397) (201,842)
Proceeds from sale of loans held for sale 194,110 255,092 213,627
Increase in cash surrender value of bank owned life insurance (811) (736) (685)
(Increase) decrease in deferred tax asset 2,904 356 (1,256)
Increase in other assets, net (1,421) (1,867) (495)
Increase (decrease) in other liabilities, net 1,931 2,565 (646)
Net cash provided by operating activities 17,193 17,089 20,106
Increase (decrease) in cash realized from:      
Increase in loans, net (225,047) (160,019) (135,294)
Purchase of property and equipment (5,381) (5,428) (4,650)
Purchase of investment securities:      
Available for sale (21,972) (17,976) (57,219)
Other investments (3,086) (806) (149)
Proceeds from maturities, calls and repayments of investment securities:      
Available for sale 9,644 20,341 11,711
Other investments 4,366 596 1,140
Proceeds from sale of investment securities:      
Available for sale 8,813 22,186 10,072
Purchase of life insurance policies (6,850) (2,000)
Proceeds from sale of other real estate owned 498 1,187 431
Net cash used for investing activities (239,015) (139,919) (175,958)
Increase (decrease) in cash realized from:      
Increase in deposits, net 289,972 105,418 196,826
Decrease in Federal Home Loan Bank advances and other borrowings (48,000) (20,000)
Issuance of common stock 24,758
Proceeds from the exercise of stock options 705 1,098 628
Net cash provided by financing activities 267,435 106,516 177,454
Net increase (decrease) in cash and cash equivalents 45,613 (16,314) 21,602
Cash and cash equivalents, beginning of year 46,552 62,866 41,264
Cash and cash equivalents, end of year 92,165 46,552 62,866
Cash paid for      
Interest 9,987 8,311 7,293
Income taxes 8,390 6,680 6,625
Schedule of non-cash transactions      
Foreclosure of other real estate 288 245 473
Unrealized (gain) loss on securities, net of income taxes $ (126) $ 216 $ 110