XML 18 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income $ 3,629 $ 3,353
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization, and accretion 1,765 1,741
Provision for loan losses 425 300
Deferred income tax expense 1,110 453
Stock-based compensation expense 252 131
Proceeds from sale of loans held-for-sale 18,931 22,179
Originations of loans held-for-sale (17,301) (22,123)
Earnings from bank-owned life insurance (175) (169)
Net gain from sales of loans (327) (467)
Net gain from sales of investment securities (9) (18)
Net loss from sale and write-down of foreclosed assets held-for-sale 24 30
Change in:    
Accrued interest receivable 23 (112)
Other assets (2,466) 2,484
Accrued interest payable and other liabilities 44 354
Net cash provided by operating activities 5,925 8,136
Available-for-sale securities:    
Proceeds from sales 2,884 10,420
Proceeds from maturities, calls and principal pay-downs 9,301 10,593
Purchases (15,231) (46,959)
Decrease (increase) in FHLB stock 980 (682)
Net increase in loans and leases (8,235) (24,676)
Acquisition of bank premises and equipment (802) (1,028)
Proceeds from sale of foreclosed assets held-for-sale 332 1,019
Net cash used in investing activities (10,771) (51,313)
Cash flows from financing activities:    
Net increase in deposits 42,626 19,942
Net (decrease) increase in short-term borrowings (20,946) 30,294
Repayments of long-term debt   (10,000)
Proceeds from employee stock purchase plan participants 111 102
Exercise of stock options 14  
Dividends paid, net of dividends reinvested (1,383) (1,275)
Net cash provided by financing activities 20,422 39,063
Net increase (decrease) in cash and cash equivalents 15,576 (4,114)
Cash and cash equivalents, beginning 12,277 25,851
Cash and cash equivalents, ending $ 27,853 $ 21,737