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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 5,100 $ 3,754
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 1,200 1,150
Depreciation 468 265
Amortization of intangible assets 80 47
Deferred income taxes (525) 237
Net amortization of securities premiums and discounts 1,120 488
Net realized gain on sales of securities (37) (270)
Gain on sale of deposits (209) 0
Earnings and proceeds on bank owned life insurance (530) (333)
Loss (gain) on sales and writedowns of fixed assets and foreclosed real estate owned 529 (46)
Gain on sale of loans (67) (54)
Loans originated for sale (1,693) (1,685)
Proceeds from sale of loans originated for sale 1,760 1,739
Compensation expense related to stock options 46 36
Compensation expense related to restricted stock 71 45
Decrease in accrued interest receivable 226 74
Decrease in accrued interest payable (127) (66)
Other, net 1,229 (872)
Net cash provided by operating activities 8,641 4,509
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sales 1,835 31,776
Proceeds from maturities and principal reductions on mortgage-backed securities 14,792 7,544
Purchases (11,893) (26,848)
Purchase of regulatory stock (1,378) (1,679)
Redemption of regulatory stock 1,062 2,863
Net increase in loans (21,481) (26,846)
Purchase of premises and equipment (155) (121)
Proceeds from sales of fixed assets and foreclosed real estate owned 515 333
Net cash used in investing activities (16,703) (12,978)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 20,954 33,350
Deposits sold (13,659) 0
Net increase (decrease) in short-term borrowings 9,381 (15,135)
Repayments of other borrowings (16,671) (4,547)
Proceeds from other borrowings 10,000 0
Stock options exercised 694 143
Tax benefit of stock options exercised 109 2
Purchase of treasury stock (854) (447)
Cash dividends paid (2,663) (2,292)
Net cash provided by financing activities 7,291 11,074
(Decrease) increase in cash and cash equivalents (771) 2,605
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 17,174 10,010
CASH AND CASH EQUIVALENTS, END OF PERIOD 16,403 12,615
Supplemental Disclosure of Cash Flow Information    
Cash payments for: Interest on deposits and borrowings 1,990 1,757
Cash payments for: Income taxes paid, net of refunds 505 1,060
Supplemental Schedule of Noncash Investing Activities    
Transfers of loans to foreclosed real estate and repossession of other assets 71 2,879
Cash dividends declared $ 2,665 $ 2,290