XML 26 R8.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES      
Net Income $ 30,064 $ 28,344 $ 25,413
Adjustments to Reconcile Net Income to Net Cash from Operating Activities:      
Net Amortization on Securities 2,548 2,025 2,875
Depreciation and Amortization 4,264 4,810 4,461
Loans Originated for Sale (137,687) (96,760) (158,845)
Proceeds from Sales of Loans Held-for-Sale 136,088 101,608 169,242
Provision for Loan Losses 0 150 350
Gain on Sale of Loans, net (2,959) (1,892) (2,645)
Gain on Securities, net (725) (1,481) (2,429)
Loss (Gain) on Sales of Other Real Estate and Repossessed Assets 63 (58) 291
Loss (Gain) on Disposition and Donation of Premises and Equipment 389 93 (70)
Post Retirement Medical Benefit 15 29 17
Increase in Cash Surrender Value of Company Owned Life Insurance (689) (865) (955)
Equity Based Compensation 963 627 329
Excess Tax Benefit from Restricted Share Grant 89 40 28
Change in Assets and Liabilities:      
Interest Receivable and Other Assets 172 (10,119) 6,016
Interest Payable and Other Liabilities (1,328) 9,917 (2,404)
Net Cash from Operating Activities 31,267 36,468 41,674
CASH FLOWS FROM INVESTING ACTIVITIES      
Proceeds from Maturity of Other Short-term Investments 100 0 2,690
Proceeds from Maturities, Calls, Redemptions of Securities Available-for-Sale 90,702 78,735 136,173
Proceeds from Sales of Securities Available-for-Sale 18,999 60,164 162,344
Purchase of Securities Available-for-Sale (116,942) (151,740) (271,218)
Proceeds from Maturities of Securities Held-to-Maturity 89 84 78
Purchase of Federal Home Loan Bank Stock (2,395) (91) 0
Proceeds from Redemption of Federal Home Loan Bank Stock 864 2,055 0
Purchase of Loans (9,895) (8,132) (744)
Proceeds from Sales of Loans 0 0 3,250
Loans Made to Customers, net of Payments Received (108,007) (58,587) (102,722)
Proceeds from Sales of Other Real Estate 1,170 2,045 2,081
Property and Equipment Expenditures (1,614) (3,053) (3,659)
Proceeds from Sales of Property and Equipment 0 23 88
Acquire Capitalized Lease 0 0 (1,455)
Acquisition of United Commerce Bank 0 0 5,858
Net Cash from Investing Activities (126,929) (78,497) (67,236)
CASH FLOWS FROM FINANCING ACTIVITIES      
Change in Deposits 46,630 (32,364) 64,645
Change in Short-term Borrowings 36,244 87,940 (18,000)
Advances in Long-term Debt 75,000 20,321 47,000
Repayments of Long-term Debt (44,135) (43,117) (49,379)
Issuance of Common Stock 49 50 20
Employee Stock Purchase Plan 447 (37) (9)
Dividends Paid (9,010) (8,450) (7,670)
Net Cash from Financing Activities 105,225 24,343 36,607
Net Change in Cash and Cash Equivalents 9,563 (17,686) 11,045
Cash and Cash Equivalents at Beginning of Year 42,446 60,132 49,087
Cash and Cash Equivalents at End of Year 52,009 42,446 60,132
Cash Paid During the Year for      
Interest 6,146 6,071 7,653
Income Taxes 9,083 11,267 10,268
Supplemental Non Cash Disclosures      
Loans Transferred to Other Real Estate 1,046 1,314 851
Securities Sold Pending Settlement $ 0 $ 0 $ (45,803)