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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities    
Net income $ 9,127 $ 8,249
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 859 851
Change in deferred taxes (209) 259
Provision for loan losses 750 900
Loans originated for resale (16,535) (14,655)
Proceeds from sales and transfers of loans 15,710 14,988
Net gain on sales of loans (379) (333)
Net gain on sale or call of securities (531) (1,395)
Net amortization of premiums on investments 939 379
Net gain on sale of other real estate owned (82) (40)
Provision for losses on other real estate owned 0 21
Equity compensation expense 132 148
Tax benefit from vesting of restricted stock 32 0
Net increase in other assets and accrued interest (2,468) (1,556)
Net (decrease) increase in other liabilities (384) 91
Amortization of investment in limited partnership 97 133
Net acquisition amortization 22 36
Net cash provided by operating activities 7,080 8,076
Cash flows from investing activities    
Increase in interest-bearing deposits in other banks (3,555) (21,006)
Proceeds from sales of securities available for sale 8,954 35,465
Proceeds from maturities, payments and calls of securities available for sale 25,544 15,872
Proceeds from maturities, payments and calls of securities to be held to maturity 43,876 32,414
Proceeds from sales of other real estate owned 972 2,129
Purchases of securities available for sale (48,834) (81,335)
Purchases of securities to be held to maturity (20,059) (5,644)
Redemption of restricted equity securities (184) 0
Net increase in loans (50,530) (47,398)
Capital expenditures (161) (178)
Net cash used by investing activities (43,977) (69,681)
Cash flows from financing activities    
Net (decrease) increase in demand, savings, and money market accounts (6,047) 40,886
Net increase in certificates of deposit 108,567 30,618
Net decrease in short-term borrowings (64,362) (41,903)
Advances on long-term borrowings 10,000 55,000
Repayment on long-term borrowings 0 (15,000)
Payment to repurchase common stock (129) (180)
Proceeds from sale of common stock 258 225
Dividends paid (4,851) (4,617)
Net cash provided by financing activities 43,436 65,029
Net increase in cash and cash equivalents 6,539 3,424
Cash and cash equivalents at beginning of period 14,299 13,057
Cash and cash equivalents at end of period 20,838 16,481
Interest paid 5,132 5,175
Income taxes paid 2,802 1,840
Non-cash transactions    
Net transfer from loans to other real estate owned $ 487 $ 517