XML 60 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities    
Net income $ 11,283 $ 9,463
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 1,243 1,282
Change in deferred taxes (457) 176
Provision for loan losses 850 3,500
Loans originated for resale (14,827) (48,833)
Proceeds from sales and transfers of loans 14,823 49,389
Net gain on sales of loans (296) (1,076)
Net gain on sale or call of securities (1,145) (1,087)
Net amortization of premiums on investments 739 1,566
Net (gain) loss on sale of other real estate owned (28) 11
Provision for losses on other real estate owned 376 390
Equity compensation expense 317 161
Net (increase) decrease in other assets and accrued interest (1,847) 3,260
Net increase (decrease) in other liabilities 1,054 (1,150)
Net loss on disposal of premises and equipment 5 4
Amortization of investment in limited partnership 427 390
Net acquisition amortization 245 245
Net cash provided by operating activities 12,762 17,691
Cash flows from investing activities    
Decrease in interest-bearing deposits in other banks 1,789 851
Proceeds from sales of securities available for sale 15,557 10,563
Proceeds from maturities, payments and calls of securities available for sale 22,810 47,223
Proceeds from maturities, payments and calls of securities to be held to maturity 12,255 33,857
Proceeds from sales of other real estate owned 1,768 5,074
Purchases of securities available for sale (909) (103,307)
Purchases of securities to be held to maturity (34,881) (62,728)
Redemption of restricted equity securities 0 536
Net (increase) decrease in loans (34,337) 2,026
Capital expenditures (1,590) (1,965)
Proceeds from disposal of premises and equipment 1,237 0
Net cash used in investing activities (16,301) (67,870)
Cash flows from financing activities    
Net increase in demand, savings, and money market accounts 98,266 51,212
Net increase (decrease) in certificates of deposit (67,343) 27,404
Net decrease in short-term borrowings (15,489) 0
Repayments of long-term borrowings (5,000) (16,128)
Repurchase of preferred stock 0 (12,500)
Proceeds from sale of common stock 342 11,872
Dividends paid (6,640) (6,522)
Net cash provided by financing activities 4,136 55,338
Net increase in cash and cash equivalents 597 5,159
Cash and cash equivalents at beginning of period 16,570 14,958
Cash and cash equivalents at end of period 17,167 20,117
Interest paid 8,705 9,530
Income taxes paid 3,555 1,310
Non-cash transactions    
Net transfer from loans to other real estate owned 1,866 1,642
Transfer of securities from available for sale to held to maturity $ 89,757 $ 0