XML 19 R8.htm IDEA: XBRL DOCUMENT v3.4.0.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities    
Net income $ 4,503 $ 4,175
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 432 425
Change in deferred taxes (111) 88
Provision for loan losses 375 500
Loans originated for resale (4,560) (5,489)
Proceeds from sales and transfers of loans 4,799 5,599
Net gain on sales of loans (114) (110)
Net gain on sale or call of securities (536) (1,395)
Net amortization of premiums on investments 619 159
Net gain on sale of other real estate owned (7) (43)
Equity compensation expense 49 74
Tax benefit from vesting of restricted stock 32 0
Net increase in other assets and accrued interest (1,944) (1,301)
Net increase (decrease) in other liabilities (388) 129
Amortization of investment in limited partnership 49 66
Net acquisition amortization 11 25
Net cash provided by operating activities 3,209 2,902
Cash flows from investing activities    
(Increase) decrease in interest-bearing deposits in other banks (2,359) 3,223
Proceeds from sales of securities available for sale 8,868 35,465
Proceeds from maturities, payments and calls of securities available for sale 8,852 5,991
Proceeds from maturities, payments and calls of securities to be held to maturity 6,228 18,875
Proceeds from sales of other real estate owned 201 1,309
Purchases of securities available for sale (8,672) (11,255)
Purchases of securities to be held to maturity (2,785) (5,344)
Redemption of restricted equity securities 382 0
Net increase in loans (16,630) (22,633)
Capital expenditures (8) (76)
Net cash provided (used) by investing activities (5,923) 25,555
Cash flows from financing activities    
Net decrease in demand, savings, and money market accounts (35,478) (8,650)
Net increase (decrease) in certificates of deposit 101,730 (49,344)
Net decrease in short-term borrowings (70,926) (22,340)
Advances on long-term borrowings 10,000 55,000
Payment to repurchase common stock (129) (180)
Proceeds from sale of common stock 121 110
Dividends paid (2,370) (2,255)
Net cash provided (used) by financing activities 2,948 (27,659)
Net increase in cash and cash equivalents 234 798
Cash and cash equivalents at beginning of period 14,299 13,057
Cash and cash equivalents at end of period 14,533 13,855
Interest paid 2,487 2,621
Income taxes paid 0 0
Non-cash transactions    
Net transfer from loans to other real estate owned $ 254 $ 380