XML 18 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income $ 10,820 $ 9,462
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 425 600
Depreciation and amortization 1,290 1,250
Net (gain) loss on sales of other real estate owned 28 (160)
Deferred income taxes   (533)
Net amortization of securities discounts and premiums 1,512 1,536
Other 250 701
Gain on sale of loans held for sale (3,033) (2,792)
Originations of loans held for sale (123,895) (117,106)
Proceeds from sale of loans held for sale 132,960 122,848
Net changes in:    
Accrued interest receivable 181 (2,300)
Other assets 276 (85)
Accrued interest payable (11) (29)
Other liabilities 3,177 3,522
Net cash provided by operating activities 23,980 16,914
Cash flows from investing activities:    
Net change in loans held for investment (47,920) (51,061)
Purchase of available-for-sale securities (12,997) (39,233)
Purchase of held-to-maturity securities   (9,960)
Proceeds from maturities/sales of available-for-sale securities 66,721 57,105
Proceeds from maturities of held-to-maturity securities 4,143 7,231
Purchase of premises and equipment (1,302) (2,375)
Proceeds from sale of other real estate owned, net of improvements 133 1,218
Purchase of non-marketable equity securities (2,663)  
Proceeds from sale of non-marketable equity securities 3,080 984
Net cash provided by (used in) investing activities 9,195 (36,091)
Cash flows from financing activities:    
Net increase in non-interest bearing deposits 21,487 60,896
Net increase in interest bearing deposits 15,691 14,661
Issuance of common shares   34,897
Proceeds related to exercise of stock options 648 200
Net change in short-term borrowings (24,349) 838
Cash dividends paid (2,475) (2,953)
Net cash provided by financing activities 11,002 108,539
Net change in cash and cash equivalents 44,177 89,362
Cash and cash equivalents, beginning of period 42,349 47,702
Cash and cash equivalents, end of period 86,526 137,064
Supplemental disclosures of cash flow information:    
Cash paid for interest 1,285 1,380
Income taxes paid 5,610 5,370
Supplemental disclosures of non-cash transactions:    
Reclassifications from loans to other real estate owned 237 7
Unrealized gains on securities available for sale $ 2,904 $ 37