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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating Activities    
Net income $ 8,766 $ 7,663
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 500  
Depreciation expense 1,709 1,551
Amortization of mortgage servicing rights 286 355
Securities amortization, net 1,170 646
Amortization of purchased intangible assets 328 420
Earnings on cash surrender value of life insurance policies (302) (313)
Gain on life insurance benefit   (297)
Securities gains, net (17) (252)
Gain on loans sold (1,413) (1,298)
Loans originated for sale (42,816) (57,395)
Proceeds from loan sales 46,248 57,625
Stock based compensation expense 197 195
Stock portion of director retainer fee expense 89 90
(Gain)/(Loss) on sale and write-down of OREO (149) 11
Prepayment penalty on FHLB advance   2,364
Change in other assets and liabilities (4,887) 1,031
Net cash provided by operating activities 9,709 10,032
Investing Activities    
Net change in short term investments 245 245
Purchases of securities available for sale (35,903) (66,979)
Proceeds from calls, maturities, and payments on securities available for sale 28,317 29,783
Proceeds from sales of securities available for sale 4,235 38,842
Loan originations and payments, net (6,583) (23,822)
Purchases of premises and equipment (3,116) (1,684)
Proceeds from sale of OREO 735 632
Purchase of restricted stock (3,283)  
Proceeds from life insurance benefit   1,084
Net cash used by investing activities (15,353) (21,899)
Financing Activities    
Net change in deposits (5,931) 6,913
Net change in other borrowings 2,796 (5,831)
Proceeds from FHLB advances 260,000 165,000
Repayment of FHLB advances (243,931) (143,933)
Cash dividends on common stock (3,241) (2,821)
Purchase of treasury shares (95) (520)
Proceeds from exercise of stock options, including tax benefit 470 124
Net cash provided by financing activities 10,068 18,932
Net change in cash and cash equivalents 4,424 7,065
Cash and cash equivalents, beginning of year 67,578 62,485
Cash and cash equivalents, end of period 72,002 69,550
Supplemental cash flow information    
Interest paid 2,368 2,258
Income taxes paid 851  
Supplemental non cash disclosure    
Loan balances transferred to foreclosed real estate $ 537 156
Loan balances transferred to loans held for sale   $ 11,356