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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities    
Net income $ 14,502 $ 13,689
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 1,378 1,302
Change in deferred taxes 98 (237)
Provision for loan losses 1,750 1,125
Loans originated for resale (29,422) (37,790)
Proceeds from sales and transfers of loans 30,323 37,765
Net gain on sales of loans (553) (854)
Net gain on sale or call of securities (471) (668)
Net amortization of premiums on investments 2,651 1,668
Net gain on sale of other real estate owned (74) (168)
Provision for losses on other real estate owned 17 89
Equity compensation expense 247 215
Tax benefit from vesting of restricted stock 0 32
Net increase in other assets and accrued interest (2,677) (2,115)
Net increase (decrease) in other liabilities 61 (159)
Net loss on disposal of premises and equipment 7 0
Amortization of investment in limited partnership 134 146
Net acquisition amortization 32 32
Net cash provided by operating activities 18,003 14,072
Cash flows from investing activities    
Increase in interest-bearing deposits in other banks (291) (11,085)
Proceeds from sales of securities available for sale 15,587 10,305
Proceeds from maturities, payments and calls of securities available for sale 141,967 49,088
Proceeds from maturities, payments and calls of securities to be held to maturity 11,693 82,900
Proceeds from sales of other real estate owned 336 1,340
Purchases of securities available for sale (158,330) (117,307)
Purchases of securities to be held to maturity (27,379) (31,549)
Redemption of restricted equity securities 1,132 209
Net increase in loans (50,660) (41,681)
Capital expenditures (914) (1,265)
Net cash used by investing activities (66,859) (59,045)
Cash flows from financing activities    
Net increase in demand, savings, and money market accounts 86,868 77,087
Net increase in certificates of deposit 20,224 53,473
Net decrease in short-term borrowings (94,538) (104,359)
Advances on long-term borrowings 50,000 35,000
Repayment on long-term borrowings (35) 0
Payment to repurchase common stock (153) (129)
Proceeds from sale of common stock 476 391
Dividends paid (8,977) (7,333)
Net cash provided by financing activities 53,865 54,130
Net increase in cash and cash equivalents 5,009 9,157
Cash and cash equivalents at beginning of period 17,366 14,299
Cash and cash equivalents at end of period 22,375 23,456
Interest paid 9,789 7,877
Income taxes paid 3,950 4,682
Non-cash transactions    
Net transfer from loans to other real estate owned $ 224 $ 584