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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities    
Net income $ 8,249 $ 7,175
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 851 837
Change in deferred taxes 259 (251)
Provision for loan losses 900 500
Loans originated for resale (14,655) (8,156)
Proceeds from sales and transfers of loans 14,988 8,153
Net gain on sales of loans (333) (186)
Net gain on sale or call of securities (1,395) (40)
Net amortization of premiums on investments 379 533
Net gain on sale of other real estate owned (40) (46)
Provision for losses on other real estate owned 21 99
Equity compensation expense 148 205
Net increase in other assets and accrued interest (1,556) (2,800)
Net increase in other liabilities 91 839
Net loss on disposal of premises and equipment 0 5
Amortization of investment in limited partnership 133 284
Net acquisition amortization 36 163
Net cash provided by operating activities 8,076 7,314
Cash flows from investing activities    
(Increase) decrease in interest-bearing deposits in other banks (21,006) 2,290
Proceeds from sales of securities available for sale 35,465 0
Proceeds from maturities, payments and calls of securities available for sale 15,872 14,411
Proceeds from maturities, payments and calls of securities to be held to maturity 32,414 6,082
Proceeds from sales of other real estate owned 2,129 1,262
Purchases of securities available for sale (81,335) (501)
Purchases of securities to be held to maturity (5,644) (34,881)
Net increase in loans (47,398) (17,238)
Capital expenditures (178) (396)
Proceeds from disposal of premises and equipment 0 1,237
Net cash used by investing activities (69,681) (27,734)
Cash flows from financing activities    
Net increase in demand, savings, and money market accounts 40,886 26,272
Net increase (decrease) in certificates of deposit 30,618 (17,235)
Net increase (decrease) in short-term borrowings (41,903) 19,395
Advances on long-term borrowings 55,000 0
Repayment on long-term borrowings (15,000) 0
Payment to repurchase common stock (180) 0
Proceeds from sale of common stock 225 224
Dividends paid (4,617) (4,390)
Net cash provided by financing activities 65,029 24,266
Net increase in cash and cash equivalents 3,424 3,846
Cash and cash equivalents at beginning of period 13,057 16,570
Cash and cash equivalents at end of period 16,481 20,416
Interest paid 5,175 5,807
Income taxes paid 1,840 1,960
Non-cash transactions    
Net transfer from loans to other real estate owned $ 517 $ 1,371