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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net earnings [1],[2] $ 4,588 $ 4,719
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Provision for loan losses 150 350
Valuation allowance on real estate owned 67
Amortization of investment security premiums, net 944 818
Amortization of purchase accounting adjustment on loans (91) (57)
Amortization of purchase accounting adjustment on subordinated debentures 100 100
Amortization of intangibles 626 668
Depreciation 520 581
Increase in cash surrender value of bank owned life insurance (236) (265)
Stock-based compensation 77
Deferred income taxes 542 229
Net gains on sales of investment securities (324) (297)
Net (gain) loss on sales of premises, equipment and real estate owned (10) 72
Net gains on sales of loans (3,081) (3,199)
Proceeds from sales of loans 86,747 121,551
Origination of loans held for sale (87,907) (113,944)
Changes in assets and liabilities:    
Accrued interest and other assets (1,183) (1,536)
Accrued expenses, taxes, and other liabilities (1,201) (2,538)
Net cash provided by operating activities 328 7,252
Cash flows from investing activities:    
Net increase in loans (2,662) (10,932)
Maturities and prepayments of investment securities 28,501 23,429
Purchases of investment securities (42,164) (43,815)
Proceeds from sales of investment securities 13,459 13,617
Redemption of bank stocks 6,319 3,009
Purchase of bank stocks (6,370) (3,134)
Proceeds from sales of premises and equipment and foreclosed assets 398 749
Proceeds from bank owned life insurance 351
Purchases of premises and equipment, net (51) (386)
Net cash used in investing activities (2,570) (17,112)
Cash flows from financing activities:    
Net increase in deposits 3,501 897
Federal Home Loan Bank advance borrowings 313,277 156,291
Federal Home Loan Bank advance repayments (321,377) (145,891)
Proceeds from other borrowings 100
Repayments on other borrowings (1,136) (447)
Proceeds from exercise of stock options [3] 23 1,195
Payment of dividends (1,548) (1,437)
Net cash (used in) provided by financing activities (7,160) 10,608
Net (decrease) increase in cash and cash equivalents (9,402) 748
Cash and cash equivalents at beginning of period 19,996 13,569
Cash and cash equivalents at end of period 10,594 14,317
Supplemental disclosure of cash flow information:    
Cash payments for income taxes 800 500
Cash paid for interest 1,616 1,599
Supplemental schedule of noncash investing and financing activities:    
Transfer of loans to real estate owned 180 536
Investment securities purchases not yet settled
[1] Income tax expense, net earnings and earnings per share for the periods ended June 30, 2016 have been recast to reflect the early adoption of Accounting Standards Update ("ASU") 2016-09
[2] Net earnings, earnings per share and assumed exercise of stock options for the periods ended June 30, 2016 have been recast to reflect the early adoption of ASU 2016-09.
[3] Net earnings and proceeds from the exercise of stock options for the period ended June 30, 2016 have been recast to reflect the early adoption of ASU 2016-09.