XML 21 R9.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net earnings $ 6,616 $ 7,922
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Provision for loan losses 500 (700)
Amortization of investment security premiums, net 1,238 1,154
Amortization of purchase accounting adjustment on loans (75) (459)
Amortization of purchase accounting adjustment on subordinated debentures 150 150
Amortization of intangibles 1,041 1,021
Depreciation 866 869
Increase in cash surrender value of bank owned life insurance (390) (376)
Stock-based compensation 23 16
Deferred income taxes 594 215
Net (gains) losses on sales of investment securities (558) 119
Impairment of affordable housing investment 0 163
Net loss (gain) on sales of premises, equipment and real estate owned 89 (240)
Net gains on sales of loans (4,418) (6,207)
Proceeds from sales of loans 173,967 229,162
Origination of loans held for sale (164,182) (221,309)
Changes in assets and liabilities:    
Accrued interest and other assets (2,305) (2,448)
Accrued expenses, taxes, and other liabilities 1,764 1,232
Net cash provided by operating activities 14,920 10,284
Cash flows from investing activities:    
Net (increase) decrease in loans (11,650) 523
Maturities and prepayments of investment securities 32,061 45,957
Purchases of investment securities (62,230) (75,238)
Proceeds from sales of investment securities 14,326 30,610
Redemption of bank stocks 4,686 8,774
Purchase of bank stocks (5,058) (9,243)
Proceeds from sales of premises and equipment and foreclosed assets 813 537
Proceeds from bank owned life insurance 358 0
Purchases of premises and equipment, net (518) (1,049)
Net cash (used in) provided by investing activities (27,212) 871
Cash flows from financing activities:    
Net increase (decrease) in deposits 988 (17,012)
Federal Home Loan Bank advance borrowings 276,833 220,326
Federal Home Loan Bank advance repayments (261,733) (215,279)
Proceeds from other borrowings 551 3,158
Repayments on other borrowings 0 (660)
Proceeds from exercise of stock options, including excess tax benefit 1,901 129
Payment of dividends (2,167) (1,903)
Net cash provided by (used in) financing activities 16,373 (11,241)
Net increase (decrease) in cash and cash equivalents 4,081 (86)
Cash and cash equivalents at beginning of period 13,569 12,760
Cash and cash equivalents at end of period 17,650 12,674
Supplemental disclosure of cash flow information:    
Cash payments for income taxes 510 2,190
Cash paid for interest 2,254 2,173
Supplemental schedule of noncash investing and financing activities:    
Transfer of loans to real estate owned 1,077 94
Investment securities purchases not yet settled $ (1,295) $ (4,094)