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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 6,538 $ 6,106
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of discounts and premiums on securities 1,066 667
(Gain) loss on sale of securities available-for-sale 6 (180)
Gain loss on sale of SBA loans (324) (305)
Proceeds from sale of SBA loans originated for sale 4,103 4,927
Net change in SBA loans originated for sale (3,861) (2,505)
Provision (credit) for loan losses 321 401
Increase in cash surrender value of life insurance (422) (449)
Depreciation and amortization 190 169
Amortization of intangible assets 345 392
Stock option expense, net 216 245
Amortization of restricted stock awards, net 221 186
Effect of changes in:    
Accrued interest receivable and other assets 5,057 1,700
Accrued interest payable and other liabilities (1,052) (3,387)
Net cash provided by operating activities 12,404 7,967
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of securities available-for-sale (47,296) (75,803)
Purchase of securities held-to-maturity (27,736) (78,680)
Maturities/paydowns/calls of securities available-for-sale 12,740 11,075
Maturities/paydowns/calls of securities held-to-maturity 9,876 2,665
Proceeds from sales of securities available-for-sale 6,536 5,598
Net change in loans (9,079) (33,675)
Changes in Federal Home Loan Bank stock and other investments (7) (8)
Purchase of premises and equipment (212) (21)
Net cash used in investing activities (55,178) (168,849)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net change in deposits 67,947 (34,039)
Exercise of stock options 365 358
Repayment of short-term borrowings   (3,000)
Payment of cash dividends (3,795) (3,394)
Net cash provided by financing activities 64,517 (40,075)
Net (decrease) increase in cash and cash equivalents 21,743 (200,957)
Cash and cash equivalents, beginning of year 266,103 344,092
Cash and cash equivalents, end of year 287,846 143,135
Supplemental disclosures of cash flow information:    
Interest paid 891 741
Income taxes paid 3 1,375
Supplemental schedule of non-cash investing activity:    
Transfer of loans held-for-sale to loan portfolio $ 1,876 2,791
Loans transferred to foreclosed assets   $ 49