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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 8,297 $ 8,165
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales of loans originated for sale (477) (337)
Gain on sales of foreclosed assets held for resale, including writedowns (28) (36)
Gain on sale of premises and equipment (449) 0
Earnings on investment in bank-owned life insurance (834) (824)
Gain on sales or calls of securities 0 (259)
Restricted stock compensation expense 59 0
Depreciation and amortization 1,324 1,308
Provision for loan losses 0 0
Net amortization of investment securities premiums 391 510
Decrease in accrued interest receivable 29 76
Decrease in accrued interest payable (10) (8)
Mortgage loans originated for sale (29,761) (22,192)
Proceeds from sales of loans originated for sale 30,196 22,923
(Increase) decrease in other assets (887) 1,102
Increase in other liabilities 966 1,518
Net Cash Provided by Operating Activities 8,816 11,946
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturities of investment securities held to maturity 13,809 7,581
Proceeds from maturities of investment securities available for sale 22,334 18,516
Proceeds from sales of investment securities available for sale 0 2,933
Purchase of investment securities available for sale (39,127) (13,118)
Purchase of investment securities held to maturity 0 (8,044)
Redemption of restricted investment in bank stocks 223 138
Net increase in loans (19,660) (27,520)
Purchase of bank-owned life insurance 0 (600)
Purchase of book of business 0 (174)
Capital expenditures (2,025) (1,283)
Proceeds from sales of premises and equipment 1,929 0
Proceeds from sales of foreclosed real estate 637 2,184
Net Cash Used in Investing Activities (21,880) (19,387)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in demand deposits 19,811 11,975
Net increase in time certificates of deposits and interest bearing deposits 32,756 38,518
Net increase (decrease) in short-term borrowings 301 (7,975)
Proceeds from long-term borrowings 9,000 11,000
Repayments on long-term borrowings (9,000) (16,437)
Dividends paid (3,627) (3,613)
Common stock issued 457 389
Net Cash Provided by Financing Activities 49,698 33,857
Net Increase in Cash and Cash Equivalents 36,634 26,416
CASH AND CASH EQUIVALENTS — BEGINNING 18,757 19,673
CASH AND CASH EQUIVALENTS — ENDING 55,391 46,089
Interest paid 2,943 2,926
Income taxes paid 3,200 975
Loans transferred to foreclosed assets held for resale and other foreclosed transactions $ 338 $ 1,130