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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Operating activities    
Net Income $ 5,860 $ 4,491
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 2,208 626
Depreciation 1,246 1,307
Stock compensation 144 144
Gain on sales of other real estate owned (140) (718)
Write-downs of other real estate owned 366 1,202
Gain on loan sales (66) (40)
Loss on disposal of fixed assets 0 2
Net amortization of investment securities discounts and premiums- AFS 257 436
Net amortization of investment securities discounts and premiums- HTM 82 78
Gains on sales of investment securities - available-for-sale (459) (62)
Amortization of deferred loan fees (368) (408)
(Increase)/decrease in accrued interest receivable and other assets (82) 2,638
Decrease in deferred tax benefit 318 377
Decrease in accrued interest payable and other liabilities (289) (137)
Earnings on bank owned life insurance (1,130) (849)
Net cash provided by operating activities 7,947 9,087
Investing activities    
Proceeds from maturities/calls of investment securities available-for-sale 33,227 38,713
Proceeds from maturities/calls of investment securities held-to-maturity 16,533 6,348
Proceeds from sales of investment securities available-for-sale 43,782 52,672
Purchases of investment securities available-for-sale (54,587) (47,640)
Purchases of investment securities held-to-maturity (9,442) (3,709)
Proceeds from sales of other real estate owned 2,265 5,870
Proceeds from loan sales 8,838 4,935
Proceeds from disposal of fixed assets 260 6
Purchase of BOLI policy 0 (5,500)
Proceeds from BOLI death benefit 608 0
Net decrease in FHLB stock 23 1,620
Net increase in loans (39,823) (8,967)
Purchases of premises and equipment (3,671) (699)
Net cash (used in)/provided by investing activities (1,987) 43,649
Financing activities    
Net increase in deposits 20,391 15,018
Preferred stock dividends paid (1,575) (2,025)
Preferred stock redemption (10,000) 0
Common stock grants 0 1
Net decrease in short-term borrowings (43) (1,341)
Payments on long-term borrowings (790) (35,051)
Net cash provided/(used in) by financing activities 7,983 (23,398)
Increase in cash and cash equivalents 13,943 29,338
Cash and cash equivalents at beginning of the year 52,141 35,451
Cash and cash equivalents at end of period 66,084 64,789
Supplemental information    
Interest paid 6,175 7,533
Non-cash investing activities:    
Transfers from loans to other real estate owned $ 5,867 $ 899