XML 19 R9.htm IDEA: XBRL DOCUMENT v3.8.0.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash Flows from Operating Activities    
Net income $ 5,641 $ 3,329
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 800 862
Net premium amortization of investment securities:    
Provision for loan losses (261) 580
Deferred income tax (benefit) expense (10) 18
Mortgage loans originated for sale (2,557) (5,324)
Proceeds from sale of mortgage loans 2,537 6,624
Gain on sale of mortgage loans, net [1] (95) (154)
Loss on disposal of premises and equipment, net 0 37
Net loss (gain) on sale and write downs of other real estate 76 (5)
Net loss on sale of available for sale investment securities [1] 0 9
Unrealized loss on equity investment securities 55 0
Curtailment gain on postretirement benefits plan liability 0 (351)
Increase in cash surrender value of company-owned life insurance (213) (216)
Death benefits in excess of cash surrender value on company-owned life insurance (67) 0
Decrease in accrued interest receivable 363 434
Decrease in other assets 517 1,787
Increase (decrease) in accrued interest payable 4 (32)
Decrease in other liabilities (1,802) (2,603)
Net cash provided by operating activities 5,644 5,942
Cash Flows from Investing Activities    
Proceeds from maturities and calls of available for sale investment securities 16,715 19,474
Purchase of available for sale investment securities (1,536) (31,058)
Purchase of equity investment securities (695) (3)
Proceeds from cancelation of cost method investment securities 239 666
Purchase of cost method investment securities 0 (4,236)
Loans originated for investment greater than principal collected, net (493) (18,347)
Purchase of loans held for investment (709) (732)
Principal collected on purchased loans 1,317 643
Proceeds from death benefits of company-owned life insurance 366 0
Purchase of premises and equipment (729) (1,145)
Proceeds from sale of other real estate 346 699
Net cash provided by (used in) investing activities 14,821 (34,039)
Cash Flows from Financing Activities    
Net increase in deposits 14,188 18,170
Net decrease in short-term securities sold under agreements to repurchase (910) (2,299)
Proceeds from long-term securities sold under agreements to repurchase 1 2
Repayments of long-term securities sold under agreements to repurchase 0 (5,041)
Repayments of Federal Home Loan Bank advances (43) 0
Dividends paid, common stock (939) (751)
Shares issued under employee stock purchase plan 51 46
Net cash provided by financing activities 12,348 10,127
Net increase (decrease) in cash and cash equivalents 32,813 (17,970)
Cash and cash equivalents at beginning of year 120,408 113,534
Cash and cash equivalents at end of period 153,221 95,564
Supplemental Disclosures    
Cash paid during the period for interest 883 948
Transfers from loans to other real estate 104 187
Sale and financing of other real estate 84 2,172
Cash dividends payable, common 940 751
Employee Stock Purchase Plan Expense [Member]    
Net premium amortization of investment securities:    
Noncash compensation expense 8 9
Director Fee Compensation [Member]    
Net premium amortization of investment securities:    
Noncash compensation expense 18 28
Available-for-sale Securities [Member]    
Net premium amortization of investment securities:    
Net premium amortization of investment securities 616 897
Held-to-maturity Securities [Member]    
Net premium amortization of investment securities:    
Net premium amortization of investment securities $ 14 $ 13
[1] Not within the scope of ASC Topic 606.