XML 49 R7.htm IDEA: XBRL DOCUMENT v3.2.0.727
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating Activities    
Net income $ 5,042 $ 4,069
Adjustments to reconcile net income to cash provided by (used in) operating activities:    
Depreciation and amortization of premises and equipment 1,817 1,904
Recovery of loan losses (1,926) (2,369)
Deferred income taxes 2,798 259
Deferred loan fees and costs, net (172) 61
Premium amortization and discount accretion of investment securities, net 1,358 1,193
Amortization of core deposit premiums 704 704
Net accretion on acquired loans (3,943) (5,285)
Stock compensation expense 402 570
Increase in cash surrender value of bank-owned life insurance, net (553) (564)
Origination of loans held for sale (48,585) (27,879)
Net proceeds from sale of loans held for sale 49,049 28,231
Net gain on sale of loans held for sale (435) (281)
Mortgage servicing rights capitalized (556) (310)
Mortgage servicing rights amortization 270 225
Net gain on sale of premises and equipment (368) (11)
Net loss on sales and write-downs of other real estate owned 685 934
Changes in assets and liabilities:    
Decrease (Increase) in accrued interest receivable and other assets (5,958) 1,715
Increase (Decrease) in accrued interest payable and other liabilities (3,466) (307)
Net cash provided by (used in) operating activities (3,837) 2,139
Available-for-sale securities:    
Proceeds from sales 0 2,473
Proceeds from maturities, calls and principal repayments 24,022 25,585
Purchases (60,525) 0
Held-to-maturity securities:    
Proceeds from maturities, calls and principal repayments 5,952 4,550
Purchases (20,394) 0
Net increase in loans held for investment (87,747) (52,404)
Proceeds from sales of other real estate owned 3,153 5,229
Purchases of premises and equipment (1,343) (1,002)
Proceeds from sales of premises and equipment 1,754 25
Net cash received in acquisition 56,788 0
Net cash used in investing activities (78,340) (15,544)
Financing Activities    
Net increase in deposits 2,459 15,060
Increase in retail repurchase agreements 2,348 1,416
Increase (Decrease) in Federal Home Loan Bank advances 12,474 (24)
Net cash provided by financing activities 17,281 16,452
Net Increase (Decrease) in Cash and Cash Equivalents (64,896) 3,047
Cash and Cash Equivalents at Beginning of Period 95,882 67,430
Cash and Cash Equivalents at End of Period 30,986 70,477
Cash paid during the period for:    
Interest 8,285 4,485
Income taxes, net of refunds 39 0
Noncash transactions:    
Foreclosed loans transferred to other real estate owned 3,433 1,251
Loans to facilitate the sale of other real estate owned 0 1,699
Unrealized securities gains (losses), net of income taxes (2,515) 7,927
Transfer of fixed assets to other assets 1,335 2,136
Unrealized loss on interest rate swaps, net of income taxes $ (59) $ (230)