XML 19 R8.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities    
Net income $ 4,637 $ 4,503
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 457 432
Change in deferred taxes 80 (111)
Provision for loan losses 500 375
Loans originated for resale (10,069) (4,560)
Proceeds from sales and transfers of loans 10,024 4,799
Net gain on sales of loans (152) (114)
Net gain on sale or call of securities (3) (536)
Net amortization of premiums on investments 904 619
Net gain on sale of other real estate owned (1) (7)
Equity compensation expense 83 49
Tax benefit from vesting of restricted stock 0 32
Net increase in other assets and accrued interest (2,192) (1,944)
Net decrease in other liabilities (1,269) (388)
Net loss on disposal of premises and equipment 7 0
Amortization of investment in limited partnership 45 49
Net acquisition amortization 11 11
Net cash provided by operating activities 3,062 3,209
Cash flows from investing activities    
Increase in interest-bearing deposits in other banks (2,979) (2,359)
Proceeds from sales of securities available for sale 3 8,868
Proceeds from maturities, payments and calls of securities available for sale 103,781 8,852
Proceeds from maturities, payments and calls of securities to be held to maturity 2,756 6,228
Proceeds from sales of other real estate owned 44 201
Purchases of securities available for sale (117,017) (8,672)
Purchases of securities to be held to maturity (16,637) (2,785)
Redemption of restricted equity securities 0 382
Purchase of restricted equity securities (1,433) 0
Net increase in loans (18,673) (16,630)
Capital expenditures (22) (8)
Net cash used by investing activities (50,177) (5,923)
Cash flows from financing activities    
Net increase (decrease) in demand, savings, and money market accounts 53,097 (35,478)
Net increase in certificates of deposit 50,429 101,730
Net decrease in short-term borrowings (52,434) (70,926)
Advances on long-term borrowings 0 10,000
Payment to repurchase common stock (146) (129)
Proceeds from sale of common stock 185 121
Dividends paid (3,782) (2,370)
Net cash provided by financing activities 47,349 2,948
Net increase in cash and cash equivalents 234 234
Cash and cash equivalents at beginning of period 17,366 14,299
Cash and cash equivalents at end of period 17,600 14,533
Interest paid 2,975 2,487
Non-cash transactions    
Net transfer from loans to other real estate owned $ 193 $ 254