XML 19 R9.htm IDEA: XBRL DOCUMENT v3.4.0.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash Flows From Operating Activities    
Net income $ 2,055 $ 2,448
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 649 597
Provision for loan losses 300 450
Originations of mortgage loans held for sale (778) 0
Proceeds from the sales of mortgage loans held for sale 787 0
Net gains on the sales of mortgage loans held for sale (9) 0
Gain on sales of securities available for sale, net (163) (101)
Premium amortization on securities, net 1,106 852
Share-based compensation 189 130
Loss on sale of other real estate owned, net 0 30
Valuation adjustments on other real estate owned 144 20
Increase in bank owned life insurance cash surrender value (161) (160)
Changes in assets and liabilities:    
Increase in other assets (983) (942)
Increase in other liabilities 64 133
Net cash provided by operating activities 3,200 3,457
Cash Flows from Investing Activities    
Proceeds from calls, principal repayments and sales of securities available for sale 31,263 28,550
Purchase of securities available for sale (32,783) (35,276)
Purchase of securities held to maturity (5,020) 0
Purchase of restricted stock, net (490) (495)
Purchase of bank premises and equipment, net (125) (151)
(Loan originations) and principal collections, net (6,541) 760
Purchases of loans (15,890) (8,041)
Proceeds from sales of loans 3,019 0
Proceeds from sale of other real estate owned and repossessed assets 0 661
Net cash used in investing activities (26,567) (13,992)
Cash Flows from Financing Activities    
Increase in demand, interest-bearing demand and savings deposits 22,118 46,017
Increase (decrease) in time deposits 20,980 (13,900)
Decrease in securities sold under agreements to repurchase (1,575) (7,511)
Increase in FHLB borrowings 10,000 15,000
Payment of dividends on common stock (918) (713)
Repurchase of common stock (745) (82)
Net cash provided by financing activities 49,860 38,811
Increase in cash and cash equivalents 26,493 28,276
Cash and cash equivalents at beginning of the period 39,228 55,022
Cash and cash equivalents at end of the period 65,721 83,298
Supplemental Disclosures of Cash Flow Information    
Interest paid 1,140 1,073
Income taxes 0 270
Supplemental Disclosure of Non-Cash Transactions    
Unrealized gain on securities available for sale 1,877 1,618
Change in fair value of interest rate swaps (227) (92)
Transfer of loans to other real estate owned $ 526 $ 0