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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 7,271 $ 8,297
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales of loans originated for sale (398) (477)
Gain on sales of foreclosed assets held for resale, including writedowns (36) (28)
Gain on sale of premises and equipment 0 (449)
Earnings on investment in bank-owned life insurance (807) (834)
Restricted stock compensation expense 120 59
Depreciation and amortization 1,622 1,324
Provision for loan losses 0 0
Net amortization of investment securities premiums 396 391
(Increase) decrease in accrued interest receivable (637) 29
Increase (decrease) in accrued interest payable 235 (10)
Mortgage loans originated for sale (21,344) (29,761)
Proceeds from sales of loans originated for sale 21,639 30,196
Decrease (increase) in other assets 1,051 (887)
Increase in other liabilities 843 966
Net Cash Provided by Operating Activities 9,955 8,816
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturities of investment securities held to maturity 8,148 13,809
Proceeds from maturities of investment securities available for sale 18,486 22,334
Purchase of investment securities available for sale (12,144) (39,127)
(Purchase) redemption of restricted investment in bank stocks (136) 223
Net increase in loans (63,636) (19,660)
Bank acquisition, net of cash acquired 6,444 0
Capital expenditures (1,087) (2,025)
Proceeds from sales of premises and equipment 6 1,929
Proceeds from sales of foreclosed real estate 228 637
Net Cash Used in Investing Activities (43,691) (21,880)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in demand deposits 13,254 19,811
Net increase in time certificates of deposits and interest bearing deposits 37,677 32,756
Net (decrease) increase in short-term borrowings (784) 301
Proceeds from long-term borrowings 24,600 9,000
Repayments on long-term borrowings (7,000) (9,000)
Dividends paid (3,829) (3,627)
Common stock issued 378 457
Net Cash Provided by Financing Activities 64,296 49,698
Net Increase in Cash and Cash Equivalents 30,560 36,634
CASH AND CASH EQUIVALENTS — BEGINNING 18,931 18,757
CASH AND CASH EQUIVALENTS — ENDING 49,491 55,391
Supplemental disclosures of cash flow information    
Interest paid 3,510 2,943
Income taxes paid 2,850 3,200
Loans transferred to foreclosed assets held for resale and other foreclosed transactions 0 338
Increase in assets and liabilities:    
Securities (21,624) 0
Loans (264,913) 0
Premises and equipment (8,624) 0
Investment in bank-owned life insurance (3,118) 0
Restricted investments in bank stocks (486) 0
Foreclosed assets held for resale (211) 0
Goodwill (13,272) 0
Intangibles (2,418) 0
Other assets (7,463) 0
Noninterest bearing deposits 80,006 0
Interest bearing deposits 213,327 0
Trust preferred debentures 4,688 0
Other liabilities 1,782 0
Common shares issued $ 28,620 $ 0