XML 17 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net earnings $ 5,418 $ 4,952
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation, amortization and accretion 2,862 3,000
(Reduction)/Provision for loan losses (748) (41)
Deferred income taxes (532) 0
Gain on sale of investment securities (324) 0
Gain on sale of other real estate (83) (183)
Write-down of other real estate 3 17
Restricted stock expense 252 218
Change in:    
Mortgage loans held for sale 1,125 (688)
Cash surrender value of life insurance (207) (208)
Other assets 518 56
Other liabilities 630 1,040
Net cash provided by operating activities 8,914 8,163
Cash flows from investing activities:    
Purchases of investment securities available for sale (6,686) (10,485)
Proceeds from sales, calls and maturities of investment securities available for sale 2,774 2,250
Proceeds from paydowns of investment securities available for sale 9,949 11,983
Purchases of FHLB stock 0 (5)
FHLB stock redemption 2 125
Net change in loans (13,512) (19,362)
Purchases of premises and equipment (444) (606)
Proceeds from sale of other real estate and repossessions 855 2,581
Net cash provided (used) by investing activities (7,062) (13,519)
Cash flows from financing activities:    
Net change in deposits 9,225 (5,899)
Net change in securities sold under agreement to repurchase 14,841 (145)
Proceeds from FHLB borrowings 0 20,000
Repayments of FHLB borrowings 0 (20,000)
Common stock repurchased 0 (1,340)
Cash dividends paid on common stock (1,007) (679)
Net cash provided (used) by financing activities 23,059 (8,063)
Net change in cash and cash equivalents 24,911 (13,419)
Cash and cash equivalents at beginning of period 39,763 69,098
Cash and cash equivalents at end of period 64,674 55,679
Cash paid during the period for:    
Interest 1,608 1,747
Income taxes 2,851 749
Noncash investing and financing activities:    
Change in unrealized gain (loss) on investment securities available for sale, net 2,509 (1,212)
Transfers of loans to other real estate and repossessions $ 271 $ 3,823