XML 22 R8.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Statement of Cash Flows [Abstract]      
Net income $ 18,009 $ 16,206 $ 14,709
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 1,745 1,720 1,663
Change in deferred taxes (139) 332 18
Provision for loan losses 1,600 1,550 1,150
Loans originated for resale (54,257) (31,306) (21,758)
Proceeds from sales and transfers of loans 55,035 31,671 22,337
Net gain on sales of loans (1,211) (714) (496)
Net gain on sale or call of securities (673) (1,399) (1,155)
Net amortization of investment premiums 2,810 783 943
Net (gain) loss on sale of other real estate owned (177) 5 32
Provision for losses on other real estate owned 132 311 637
Equity compensation expense 298 296 431
Tax benefit from vesting of restricted stock 32 0 0
Net (increase) decrease in other assets and accrued interest (2,460) (455) 676
Net increase in other liabilities 665 1,418 378
Net loss on disposal of premises and equipment 0 0 3
Amortization of investments in limited partnerships 194 266 569
Net acquisition amortization 43 58 326
Net cash provided by operating activities 21,646 20,742 20,463
Cash flows from investing activities      
(Increase) decrease in interest-bearing deposits in other banks 3,720 (454) (997)
Proceeds from sales of securities available for sale 10,309 35,468 15,557
Proceeds from maturities, payments, calls of securities available for sale 79,223 36,588 30,226
Proceeds from maturities, payments, calls of securities held to maturity 88,899 45,688 18,085
Proceeds from sales of other real estate owned 1,786 3,260 2,624
Purchases of securities available for sale (172,343) (111,616) (908)
Purchases of securities to be held to maturity (75,573) (9,644) (34,881)
Investment in bank-owned life insurance 0 (10,000) 0
Purchase of Federal Home Loan Bank Stock 0 (345) 0
Redemption of restricted equity securities 2,327 0 0
Net increase in loans (84,850) (74,375) (45,788)
Capital expenditures (2,131) (927) (1,909)
Proceeds from sale of premises and equipment 0 10 1,240
Net cash used in investing activities (148,633) (86,347) (16,751)
Cash flows from financing activities      
Net increase in demand, savings, and money market accounts 94,130 94,889 84,038
Net increase (decrease) in certificates of deposit 105,638 (76,519) (83,618)
Advances on long-term borrowings 35,000 55,000 0
Repayment on long-term borrowings (30,000) (40,000) (30,000)
Net increase (decrease) in short-term borrowings (63,556) 42,541 30,791
Payment to repurchase common stock (129) (180) 0
Proceeds from sale of common stock 531 465 457
Repurchase of warrants (1,750) 0 0
Dividends paid (9,810) (9,349) (8,893)
Net cash provided by (used in) financing activities 130,054 66,847 (7,225)
Net increase (decrease) in cash and cash equivalents 3,067 1,242 (3,513)
Cash and cash equivalents at beginning of year 14,299 13,057 16,570
Cash and cash equivalents at end of year 17,366 14,299 13,057
Interest paid 10,767 9,960 11,503
Income taxes paid 6,367 4,235 5,150
Non-cash transactions:      
Net transfer from loans to other real estate owned 584 1,323 2,271
Transfer of securities from available for sale to held to maturity $ 0 $ 0 $ 89,757