XML 18 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities    
Net income $ 23,295,000 $ 23,828,000
Adjustments to reconcile net income to net cash from operating activities    
Depreciation and amortization 7,820,000 6,730,000
Accretion of acquired loans (1,867,000) (3,253,000)
Provision for loan losses 2,350,000 2,300,000
Stock-based compensation expense 1,431,000 901,000
Stock grants to directors for retainer fee 363,000 327,000
Proceeds from sales of mortgage loans held for sale 81,368,000 83,440,000
Origination of mortgage loans held for sale (81,570,000) (83,000,000)
Net gain from sales of mortgage loans held for sale (2,875,000) (2,463,000)
Gain on trust preferred securities repurchase 0 (2,970,000)
Net gain from sales and valuation write-down of foreclosed assets (199,000) (322,000)
Net (gain) loss from sales and valuation write-down of former bank premises 123,000 (10,000)
Net loss from sales of fixed assets 67,000 174,000
Net (gain) loss from sales of available for sale securities (36,000) 1,000
Earnings on bank owned life insurance (2,394,000) (933,000)
Net change in:    
Accrued interest receivable (1,404,000) (228,000)
Other assets (1,987,000) (1,554,000)
Accrued interest and other liabilities 278,000 (809,000)
Net cash from operating activities 24,763,000 22,159,000
Cash flows from investing activities    
Loan originations and payments, net (172,665,000) (124,126,000)
Purchases of securities available for sale (50,276,000) (130,414,000)
Proceeds from maturities, calls and repayments of securities available for sale 46,177,000 152,781,000
Proceeds from sales of securities available for sale 6,706,000 264,000
Proceeds from sales of foreclosed assets 772,000 1,458,000
Proceeds from sales of former bank premises 22,000 45,000
Purchases of Federal Home Loan Bank stock (3,010,000) (459,000)
Proceeds from bank owned life insurance cash value release and death benefits 2,720,000 0
Purchases of bank owned life insurance 0 (7,000,000)
Net purchases of premises and equipment (4,192,000) (1,051,000)
Net cash for investing activities (173,746,000) (108,502,000)
Cash flows from financing activities    
Net increase (decrease) in time deposits (49,466,000) 17,823,000
Net increase in all other deposits 163,524,000 36,232,000
Net decrease in securities sold under agreements to repurchase (9,430,000) (7,928,000)
Maturities of Federal Home Loan Bank advances (45,000,000) 0
Proceeds from Federal Home Loan Bank advances 90,000,000 110,000,000
Proceeds from stock option exercises 289,000 606,000
Employee stock purchase plan 36,000 27,000
Dividend reinvestment plan 1,426,000 1,079,000
Repurchase of common stock shares 0 (3,732,000)
Repurchase of trust preferred securities 0 (8,030,000)
Payment of cash dividends to common shareholders (8,941,000) (7,895,000)
Net cash from financing activities 142,438,000 138,182,000
Net change in cash and cash equivalents (6,545,000) 51,839,000
Cash and cash equivalents at beginning of period 183,596,000 89,891,000
Cash and cash equivalents at end of period 177,051,000 141,730,000
Supplemental disclosures of cash flows information    
Interest 11,064,000 9,218,000
Federal income tax 10,275,000 10,950,000
Noncash financing and investing activities:    
Transfers from loans to foreclosed assets 839,000 297,000
Transfers from bank premises to other real estate owned $ 1,737,000 $ 371,000