XML 16 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 6,771 $ 6,314
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 1,240 270
Provision for off-balance sheet items 0 30
Depreciation and amortization 199 175
Amortization and accretion of investment securities 735 1,148
Deferred income taxes (105) 81
Investment securities and interest bearing time deposit gains, net (195) (155)
Earnings on bank owned life insurance (333) (342)
Originations of loans held for sale (10,247) (8,580)
Proceeds from sales of loans held for sale 11,840 7,995
Realized gains on loans sold (249) (116)
Increase in accrued interest receivable 392 35
Decrease in accrued interest payable (92) (90)
Other, net (166) (519)
Net cash provided by operating activities 9,790 6,246
Available-for-sale securities:    
Proceeds from sales 25,407 12,077
Proceeds from maturity and principal repayments 36,510 21,561
Purchase of securities (13,829) (32,507)
Purchase of interest bearing time deposits with other banks (4,069) 0
Proceeds from matured interest bearing time deposits with other banks 496 744
Proceeds from sale of interest bearing time deposits with other banks 1,745 0
Proceeds from redemption of regulatory stock 4,303 184
Purchase of regulatory stock (3,487) (132)
Net increase in loans (88,468) (14,135)
Purchase of premises and equipment (131) (398)
Proceeds from sale of foreclosed assets held for sale 237 374
Net cash used in investing activities (41,286) (12,232)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in deposits 45,706 15,451
Proceeds from long-term borrowings 5 539
Repayments of long-term borrowings 0 (534)
Net decrease in short-term borrowed funds (9,669) (2,850)
Purchase of treasury and restricted stock (509) (1,482)
Dividends paid (2,429) (2,700)
Net cash provided by financing activities 33,104 8,424
Net increase in cash and cash equivalents 1,608 2,438
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 17,754 24,384
CASH AND CASH EQUIVALENTS AT END OF PERIOD 19,362 26,822
Supplemental Disclosures of Cash Flow Information:    
Interest paid 2,769 2,602
Income taxes paid 2,075 1,400
Loans transferred to foreclosed property 335 519
Investments purchased and not settled $ 1,541 $ 0