XML 24 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net income $ 25,993 $ 14,933 $ 15,153
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 2,788 979 1,785
Net amortization of securities 5,214 3,415 2,403
Deferred income taxes 6,886 470 142
Change in unamortized net loan costs and premiums (933) (557) 295
Premises and equipment depreciation and amortization expense 3,553 1,551 1,710
Stock-based compensation expense 1,274 1,278 816
Accretion of purchase accounting entries, net (3,337) 0 0
Amortization of other intangibles 812 92 92
Income from cash surrender value of bank-owned life insurance policies (1,539) (703) (606)
Gain on sales of securities, net (19) (4,498) (1,334)
Loss on premises and equipment, net 94 0 0
Net change in other assets and liabilities (654) (169) (125)
Net cash provided by operating activities 40,132 16,791 20,331
Cash flows from investing activities:      
Proceeds from sales of securities available for sale 1,599 66,583 22,753
Proceeds from maturities, calls and prepayments of securities available for sale 121,583 109,377 106,801
Purchases of securities available for sale (172,116) (210,824) (168,432)
Purchase of bank owned life insurance 0 0 (15,000)
Net change in loans (126,828) (10,042) (21,088)
Purchase of loans (18,621) (128,951) (51,698)
Purchase of Federal Home Loan Bank stock (1,325) (3,852) (125)
Purchase of premises and equipment, net (3,157) (4,296) (1,866)
Acquisitions, net of cash (paid) acquired 39,537 0 0
Proceeds from sale of other real estate 322 119 672
Net cash used in investing activities (159,006) (181,886) (127,983)
Cash flows from financing activities:      
Net decrease in deposits 151,900 107,513 84,738
Net change in short-term advances from the Federal Home Loan Bank 213,593 59,700 19,200
Net change in long term advances from the Federal Home Loan Bank (153,332) 1,234 7,382
Net change in securities sold repurchase agreements (222) 871 1,189
Exercise of stock options 968 1,570 1,127
Purchase of treasury stock (282) (497) (24)
Common stock cash dividends paid (11,505) (6,577) (6,040)
Net cash provided by financing activities 201,120 163,814 107,572
Net change in cash and cash equivalents 82,246 (1,281) (80)
Cash and cash equivalents at beginning of year 8,439 9,720 9,800
Cash and cash equivalents at end of year 90,685 8,439 9,720
Supplemental cash flow information:      
Interest paid 21,399 11,944 10,362
Income taxes paid, net 9,084 6,286 5,566
Acquisition of non-cash assets and liabilities:      
Assets acquired 1,454,119 0 0
Liabilities assumed 1,406,887 0 0
Other non-cash changes:      
Real estate owned acquired in settlement of loans $ 32 $ 0 $ 425