XML 59 R7.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Dec. 31, 2014
Cash Flows from Operating Activities          
Net income $ 726 $ 1,247 $ 1,714 $ 3,935  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     896 729  
Amortization of core deposit intangibles     426 12  
Origination of loans held for sale     (11,493) (181)  
Proceeds from sale of loans held for sale     11,508 1,450  
Net gains on sales of loans held for sale (53)   (158)    
Recovery of loan losses   (100) (100) (700) $ (3,850)
Provision for other real estate owned     230 93  
Net losses on sale of securities available for sale   91 52 69  
Net gains on sale of other real estate owned     (72) (234)  
Losses on disposal of premises and equipment       2  
Income from bank owned life insurance (106) (103) (270) (266)  
Accretion of discounts and amortization of premiums on securities, net     521 490  
Accretion of premium on time deposits     164    
Stock-based compensation     70    
Bargain purchase gain on branch acquisition     (201)    
Changes in assets and liabilities:          
Increase in interest receivable     (282) (25)  
(Increase) decrease in other assets     (70) 708  
Increase (decrease) in other liabilities     380 (1,056)  
Net cash provided by operating activities     3,315 5,026  
Cash Flows from Investing Activities          
Proceeds from sales of securities available for sale       3,453  
Proceeds from maturities, calls, and principal payments of securities available for sale     11,836 10,408  
Proceeds from maturities, calls, and principal payments of securities held to maturity     1,220    
Purchase of securities available for sale     (37,638) (14,219)  
Purchase of securities held to maturity     (55,569)    
Proceeds from redemption of restricted securities     638 168  
Purchase of restricted securities     (663)    
Purchase of premises and equipment     (1,768) (264)  
Proceeds from sale of other real estate owned     354 1,502  
Net increase in loans     (30,430) (19,415)  
Acquisition of branches, net of cash paid     179,501    
Net cash provided by (used in) investing activities     67,481 (18,367)  
Cash Flows from Financing Activities          
Net (decrease) increase in demand deposits and savings accounts     (813) 719  
Net decrease in time deposits     (16,584) (12,511)  
Proceeds from other borrowings     15,000    
Principal payments on other borrowings     (15,019) (19)  
Cash dividends paid on preferred stock     (985) (707)  
Cash dividends paid on common stock, net of reinvestment     (341) (227)  
Repurchase of common stock     (1)    
(Decrease) increase in federal funds purchased     (52) 5,325  
Net cash used in financing activities     (18,795) (7,420)  
Increase (decrease) in cash and cash equivalents     52,001 (20,761)  
Cash and Cash Equivalents          
Beginning     24,845 31,508 31,508
Ending $ 76,846 $ 10,747 76,846 10,747 $ 24,845
Supplemental Disclosures of Cash Flow Information          
Interest     873 1,403  
Income Taxes     752 601  
Supplemental Disclosures of Noncash Investing and Financing Activities          
Unrealized gains on securities available for sale     572 1,607  
Transfer from loans to loans held for sale       1,450  
Transfer from loans to other real estate owned     1,384 139  
Issuance of common stock, dividend reinvestment plan     25 $ 18  
Transactions Related to Acquisition          
Assets acquired     193,638    
Liabilities assumed     186,819    
Net assets acquired     $ 6,819