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Consolidated Statement Of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Dec. 31, 2013
USD ($)
Operating Activities:      
Net income $ 18,334 $ 17,867 $ 12,412
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:      
Gain on sale of securities, net (271) (461) (333)
Gain on sale of premises and equipment 0 (1,115) 0
Gain on purchase of mortgage affiliate 0 (3,001) 0
Depreciation and amortization of premises and equipment 2,264 1,865 1,793
Amortization of software 179 180 180
Intangible asset amortization 258 289 228
Amortization of investment security premium, net of discount accretion (202) (187) 22
Deferred tax (benefit) liability 148 (1,311) 1,215
Stock-based compensation 608 360 506
Excess tax benefits from share-based payment arrangements (56) (96) (100)
Deferral of loan fees and costs, net 61 530 590
Provision (benefit) for loan losses 1,754 (636) (635)
Reserve (benefit) for purchased receivables (138) 704 100
Purchases of loans held for sale 0 (132,013) (156,521)
Proceeds from the sale of loans held for sale 747,128 203,404 156,925
Origination of loans held for sale (753,815) (62,652) 0
Gain on sale of other real estate owned (315) (631) (288)
Impairment on other real estate owned 361 56 112
Equity in undistributed earnings from mortgage affiliate 0 (172) 200
Net changes in assets and liabilities:      
(Increase) in accrued interest receivable (247) (644) (111)
Proceeds from refund of prepaid FDIC premiums 0 0 3,405
Decrease in other assets 5,509 6,412 403
Decrease in other liabilities (11,041) (8,270) (1,455)
Net Cash Provided by Operating Activities 10,519 20,478 18,648
Investing Activities:      
Purchases of investment securities available for sale (210,308) (264,943) (140,856)
Proceeds from sales/calls/maturities of securities available for sale 200,343 237,425 95,199
Proceeds from calls/maturities of securities held to maturity 1,285 0 535
Purchases of domestic certificates of deposit 0 (3,500) (13,500)
Proceeds from maturities of domestic certificates of deposit 3,500 13,500 13,500
Proceeds from redemption of FHLB stock 1,588 165 71
Decrease in purchased receivables, net 2,066 67 2,897
Increase in loans, net (57,927) (27,686) (66,249)
Proceeds from sale of other real estate owned 2,733 2,402 2,623
Net cash received from Alaska Pacific acquisition 0 6,367 0
Cash paid for Residential Mortgage acquisition, net of cash received 0 (7,412) 0
Elliott Cove divestiture, net of cash received 219 0 0
Decrease in loan to Elliott Cove, net 0 239 0
Purchases of premises and equipment (6,838) (5,282) (2,209)
Net Cash Used by Investing Activities (63,339) (48,658) (107,989)
Financing Activities:      
Increase in deposits 61,045 24,585 33,594
Increase (decrease) in securities sold under repurchase agreements 11,577 (1,300) 2,105
Increase (decrease) in borrowings (24,184) (7,032) 2,048
Distributions to noncontrolling interest (490) (508) (13)
Proceeds from the issuance of common stock 50 54 0
Excess tax benefits from share-based payment arrangements 56 96 100
Cash dividends paid (5,117) (4,750) (4,215)
Net Cash Provided by Financing Activities 42,937 11,145 33,619
Net Decrease in Cash and Cash Equivalents (9,883) (17,035) (55,722)
Cash and Cash Equivalents at Beginning of Year 68,556 85,591 141,313
Cash and Cash Equivalents at End of Year 58,673 68,556 85,591
Supplemental Information:      
Income taxes paid 5,674 5,927 3,552
Interest paid 2,833 2,087 2,035
Transfer of loans to other real estate owned 1,259 1,137 365
Cash dividends declared but not paid 46 49 42
Assets acquired 0 235,069 0
Liabilities assumed $ 0 $ 197,338 $ 0