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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
OPERATING ACTIVITIES:    
Net income $ 10,246 $ 6,814
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 1,605 1,448
Amortization of premium and accretion of discount on securities, net 938 720
Amortization of restricted stock 1,098 721
Provision of loan losses $ 3,550 2,475
Provision for OREO losses   400
Provision for deferred taxes $ (1,892) (536)
Stock-based compensation, including ESPP 172 106
Gains on securities, available for sale (444) (177)
Loans originated for sale at fair value (20,661) (17,004)
Proceeds from sales of loans at fair value 21,064 16,579
Gains on loans held for sale at fair value $ (309) (224)
Net gains on loans held for sale at lower of cost or fair value   (176)
Losses/(gains) on sale of other real estate owned $ 38 (108)
Gains on disposal of fixed assets   $ (9)
Gain on death benefit $ (88)  
Increase in cash surrender value of life insurance, net (323) $ (376)
Increase in accrued interest receivable (1,080) (772)
Decrease in other assets 2,908 4,769
Decrease/(increase) in accrued expenses, capital lease obligations and other liabilities 1,175 (903)
NET CASH PROVIDED BY OPERATING ACTIVITIES 17,997 13,747
INVESTING ACTIVITIES:    
Maturities of securities available for sale 39,479 $ 52,411
Redemptions for FHLB & FRB stock 32,200  
Call of securities available for sale 14,880  
Sales of securities available for sale 36,865 $ 25,167
Purchase of securities available for sale (5,310) $ (32,586)
Purchase of FHLB & FRB stock $ (36,197)  
Proceeds from sales of loans held for sale at lower of cost or fair value   $ 68,031
Net increase in loans $ (491,732) (369,607)
Sales of other real estate owned 330 982
Purchase of premises and equipment $ (984) (2,326)
Disposal of premises and equipment   $ 14
Acquisition of a wealth management company $ (800)  
Proceeds from death benefit 238  
NET CASH USED IN INVESTING ACTIVITIES (411,031) $ (257,914)
FINANCING ACTIVITIES:    
Net increase in deposits 365,053 467,918
Net increase/(decrease) in overnight borrowings $ 32,900 (54,900)
Net increase in other borrowings   9,000
Cash dividends paid on common stock $ (1,531) (1,191)
Exercise of Stock Options, net of stock swap 29 $ 92
Restricted stock tax expense (54)  
Sales of shares (DRIP Program) 3,812 $ 3,657
Purchase of shares for Profit Sharing Plan 306 70
NET CASH PROVIDED BY FINANCING ACTIVITIES 400,515 424,646
Net increase in cash and cash equivalents 7,481 180,479
Cash and cash equivalents at beginning of period 31,207 35,147
Cash and cash equivalents at end of period $ 38,688 $ 215,626