XML 38 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash Flows from Operating Activities:    
Net income $ 3,450 $ 4,151
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 0 294
Depreciation 434 424
Net accretion of purchase accounting adjustments (896) (1,983)
Core deposit intangible amortization 331 420
Net amortization (accretion) of securities 668 788
Net gain on sale or call of securities (39) (198)
Gain on sale of loans held for sale (215) (650)
Proceeds from sales of loans held for sale 13,745 33,782
Originations of loans held for sale (12,159) (23,675)
Net gain on foreclosed real estate (49) (14)
Valuation allowance on foreclosed real estate 24 70
Equity based compensation expense 166 146
Deferred income tax benefit 94 (43)
Net change in interest receivable 344 175
Net change in other assets (565) (1,504)
Net change in interest payable (43) (23)
Net change in other liabilities 1,143 1,813
Net cash provided by operating activities 6,433 13,973
Cash Flows from Investing Activities:    
Proceeds from sales of securities available for sale 2,061 2,627
Proceeds from maturities, calls and paydowns of securities available for sale 22,540 9,329
Purchases of securities available for sale (26,459) (19,555)
Net change in restricted stock 360 411
Net (increase) decrease in loans 12,225 (2,112)
Purchases of premises and equipment (119) (178)
Proceeds from sales of foreclosed real estate 232 645
Net cash (used in) provided by investing activities 10,840 (8,833)
Cash Flows from Financing Activities:    
Net change in demand, money market, and savings deposits 5,164 4,199
Net change in time deposits (11,590) 5,986
Net change in customer repurchase agreements (5,325) (3,276)
Net change in long-term borrowings (38) (37)
Common stock dividends paid (1,819) (1,809)
Net cash provided by financing activities (13,608) 5,063
Net Increase in Cash and Cash Equivalents 3,665 10,203
Cash and Cash Equivalents at Beginning of Period 67,681 47,442
Cash and Cash Equivalents at End of Period $ 71,346 $ 57,645