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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income $ 4,365 $ 5,781
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 1,600 1,760
Depreciation 484 414
Amortization of intangible assets 81 80
Deferred income taxes 155 184
Net amortization of securities premiums and discounts 1,039 711
Net realized gain on sales of securities (269) (508)
Earnings and proceeds on bank owned life insurance (616) (497)
Loss on sales of fixed assets and foreclosed real estate owned 2 271
Gain on sale of mortgage loans (54) (56)
Mortgage loans originated for sale (1,685) (2,605)
Proceeds from sale of mortgage loans originated for sale 1,739 2,661
Compensation expense related to stock options 53 49
Compensation expense related to restricted stock 67 49
Decrease (increase) in accrued interest receivable and other assets 1,894 (609)
(Decrease) increase in accrued interest payable and other liabilities (920) 531
Net cash provided by operating activities 7,935 8,216
CASH FLOWS FROM INVESTING ACTIVITIES    
Securities available for sale: Proceeds from sales 101,804 28,850
Securities available for sale: Proceeds from maturities and principal reductions on mortgage-backed securities 18,083 19,408
Securities available for sale: Purchases (80,538) (44,987)
Purchase of regulatory stock (2,675) (1,830)
Redemption of regulatory stock 4,015 1,056
Net increase in loans (35,325) (44,592)
Proceeds from bank-owned life insurance 205 0
Purchase of bank-owned life insurance (2,000) 0
Purchase of premises and equipment (337) (184)
Proceeds from sales of fixed assets and foreclosed real estate owned 387 2,378
Acquisition, net of cash and cash equivalents acquired 11,112 0
Net cash provided by (used in) investing activities 14,731 (39,901)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 44,072 11,409
Net (decrease) increase in short-term borrowings (21,456) 15,851
Repayments of other borrowings (18,439) (9,038)
Proceeds from other borrowings 0 16,000
Stock options exercised 160 310
Tax benefit of stock options exercised 3 14
Purchase of treasury stock (447) (135)
Cash dividends paid (3,436) (3,386)
Net cash provided by financing activities 457 31,025
Increase (decrease) in cash and cash equivalents 23,123 (660)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 10,010 12,376
CASH AND CASH EQUIVALENTS, END OF PERIOD 33,133 11,716
Supplemental Disclosure of Cash Flow Information    
Cash payments for: Interest on deposits and borrowings 2,566 2,403
Cash payments for: Income taxes paid, net of refunds 1,135 1,881
Supplemental Schedule of Noncash Investing Activities    
Transfers of loans to foreclosed real estate and repossession of other assets 2,953 290
Cash dividends declared 3,567 $ 1,142
Merger with Delaware Bancshares, Inc.    
Noncash assets acquired: Securities available for sale 208,488  
Noncash assets acquired: Regulatory stock 279  
Noncash assets acquired: Loans 116,674  
Noncash assets acquired: Premises and equipment, net 7,292  
Noncash assets acquired: Accrued interest receivable 1,626  
Noncash assets acquired: Bank-owned life insurance 14,762  
Noncash assets acquired: Core deposit intangibles 449  
Noncash assets acquired: Deferred tax assets 3,034  
Noncash assets acquired: Other assets 2,934  
Noncash assets acquired: Goodwill 1,964  
Total Noncash assets acquired 357,502  
Liabilities assumed:    
Time deposits 71,342  
Deposits other than time deposits 255,921  
Borrowings 21,232  
Accrued interest payable 95  
Other liabilities 7,873  
Total Liabilities assumed 356,463  
Net Noncash Assets Acquired 1,039  
Cash Acquired $ 14,977