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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities    
Net income $ 12,437 $ 11,283
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 1,276 1,243
Change in deferred taxes 334 (457)
Provision for loan losses 1,100 850
Loans originated for resale (23,504) (14,827)
Proceeds from sales and transfers of loans 23,794 14,823
Net gain on sales of loans (490) (296)
Net gain on sale or call of securities (1,396) (1,145)
Net amortization of premiums on investments 634 739
Net (gain) loss on sale of other real estate owned 2 (28)
Provision for losses on other real estate owned 236 376
Equity compensation expense 222 317
Net increase in other assets and accrued interest (1,486) (1,847)
Net increase in other liabilities 978 1,054
Net loss on disposal of premises and equipment 0 5
Amortization of investment in limited partnership 199 427
Net acquisition amortization 47 245
Net cash provided by operating activities 14,383 12,762
Cash flows from investing activities    
Decrease in interest-bearing deposits in other banks 3,258 1,789
Proceeds from sales of securities available for sale 35,466 15,557
Proceeds from maturities, payments and calls of securities available for sale 25,481 22,810
Proceeds from maturities, payments and calls of securities to be held to maturity 36,367 12,255
Proceeds from sales of other real estate owned 2,587 1,768
Purchases of securities available for sale (91,297) (909)
Purchases of securities to be held to maturity (5,644) (34,881)
Investment in bank-owned life insurance (10,000) 0
Net increase in loans (48,310) (34,337)
Capital expenditures (371) (1,590)
Proceeds from disposal of premises and equipment 10 1,237
Net cash used by investing activities (52,453) (16,301)
Cash flows from financing activities    
Net increase in demand, savings, and money market accounts 91,740 98,266
Net decrease in certificates of deposit (58,194) (67,343)
Net increase (decrease) in short-term borrowings 2,453 (15,489)
Advances on long-term borrowings 55,000 0
Repayment on long-term borrowings (40,000) (5,000)
Payment to repurchase common stock (180) 0
Proceeds from sale of common stock 343 342
Dividends paid (6,980) (6,640)
Net cash provided by financing activities 44,182 4,136
Net increase in cash and cash equivalents 6,112 597
Cash and cash equivalents at beginning of period 13,057 16,570
Cash and cash equivalents at end of period 19,169 17,167
Interest paid 7,564 8,705
Income taxes paid 2,915 3,555
Non-cash transactions    
Net transfer from loans to other real estate owned 956 1,866
Transfer of securities from available for sale to held to maturity $ 0 $ 89,757