XML 19 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net income $ 9,112,000 $ 6,862,000
Adjustments to reconcile consolidated net income to net cash provided by operating activities:    
Provision for loan losses 865,000 960,000
Depreciation 825,000 818,000
Deferred income tax provision 499,000 252,000
Amortization of intangibles 255,000 278,000
Valuation adjustments on repossessed real estate and other assets   51,000
Net realized gains on debt securities (6,000) (6,000)
Net gains on sales of assets (130,000) (364,000)
Earnings on bank-owned life insurance (451,000) (326,000)
Amortization of premiums on securities 291,000 313,000
Stock-based compensation expense 392,000 9,000
Change in operating assets and liabilities:    
Loans held for sale 1,464,000 40,000
Other assets 2,312,000 564,000
Other liabilities (7,726,000) 1,377,000
Total adjustments (1,410,000) 3,966,000
Net cash provided by operating activities 7,702,000 10,828,000
Cash flows from investing activities:    
Purchases of debt securities (85,675,000) (99,387,000)
Proceeds from sales, calls and maturities of debt securities 78,890,000 79,628,000
Principal repayments of debt securities 4,861,000 4,760,000
Net (contributions to) dividends from equity investments (449,000) 79,000
Net increase in loans (45,514,000) (69,318,000)
Sales of loan participations 7,500,000 5,934,000
Purchases of loan participations (7,000,000) (205,000)
Sales of U.S. Small Business Administration loans 237,000 568,000
Purchase of bank-owned life insurance (1,700,000)  
Proceeds from sales of repossessed real estate and other assets 393,000 1,668,000
Purchases of premises and equipment (354,000) (479,000)
Proceeds from sales of premises and equipment   580,000
Net cash used in investing activities (48,811,000) (76,172,000)
Cash flows from financing activities:    
Net increase (decrease) in noninterest-bearing deposits 10,732,000 (31,586,000)
Net decrease in interest-bearing deposits (14,002,000) (10,729,000)
Net increase (decrease) in securities sold under agreements to repurchase (664,000) 121,000
Repayments of note payable   (1,107,000)
Dividends paid on common stock (1,241,000) (1,103,000)
Net cash used in financing activities (5,175,000) (44,404,000)
Net decrease in cash, cash equivalents and restricted cash (46,284,000) (109,748,000)
Cash, cash equivalents and restricted cash, beginning 326,199,000 382,103,000
Cash, cash equivalents and restricted cash, ending $ 279,915,000 $ 272,355,000