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Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended 12 Months Ended
Dec. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash Flows from Operating Activities:            
Net income   $ 3,171 $ 2,460 $ 12,638 $ 11,626 $ 13,385
Adjustments to reconcile net income to net cash provided by operating activities:            
Provision for loan losses   750 120 1,520 480 585
Depreciation and amortization       320 464 472
Amortization and accretion on investment securities       2,302 2,057 2,133
Deferred income taxes       362 (192) 478
Investment securities gains, net   (100) 1 (255) (429) (616)
Earnings on bank owned life insurance       (688) (628) (507)
Stock awards       284 179 200
Originations of loans held for sale       (22,237) (18,945) (11,129)
Proceeds from sales of loans held for sale       21,462 19,243 11,146
Realized gains on loans sold       (449) (404) (236)
(Increase) decrease in accrued interest receivable       122 (285) 84
Decrease in accrued interest payable       (14) (36) (139)
Other, net       827 (319) 322
Net cash provided by operating activities       16,194 12,811 16,178
Available-for-sale securities:            
Proceeds from sales of available-for-sale securities       22,372 30,464 28,989
Proceeds from maturity and principal repayments of securities       67,782 48,103 41,756
Purchase of securities       (55,600) (111,304) (56,257)
Proceeds from redemption of Regulatory Stock       1,556 4,476 4,706
Purchase of Regulatory Stock       (3,403) (3,879) (2,815)
Net increase in loans       (103,915) (25,981) (15,331)
Purchase of interest bearing time deposits       0 (500) (3,480)
Proceeds from matured interest bearing time deposits with other banks       744 0 0
Purchase of bank owned life insurance       0 0 (5,123)
Purchase of premises, equipment and software       (587) (776) (1,309)
Proceeds from sale of foreclosed assets held for sale       973 565 647
Acquisition, net of cash paid       0 77,895 0
Net cash (used in) provided by investing activities       (70,078) 19,063 (8,217)
Cash Flows from Financing Activities:            
Net (decrease) increase in deposits       17,472 (11,132) 25,617
Proceeds from long-term borrowings       543 5,291 6,820
Repayments of long-term borrowings       (534) (700) (4,200)
Net increase (decrease) in short-term borrowed funds       38,022 (4,759) (27,753)
Purchase of treasury stock       (3,227) (2,455) (814)
Purchase of restricted stock       0 (7) (170)
Reissuance of treasury stock to employee stock purchase plan       59 0 0
Dividends paid       (5,081) (5,151) (6,121)
Net cash provided by (used in) financing activities       47,254 (18,913) (6,621)
Net (decrease) increase in cash and cash equivalents       (6,630) 12,961 1,340
Cash and Cash Equivalents at Beginning of Year       24,384 11,423 10,083
Cash and Cash Equivalents at End of Year $ 24,384 17,754 24,384 17,754 24,384 11,423
Supplemental Disclosures of Cash Flow Information:            
Interest paid       5,055 4,841 5,092
Income taxes paid       2,475 3,375 2,835
Non-cash activities:            
Stock dividend       1,574 0 1,597
Real estate acquired in settlement of loans       599 323 1,095
Real estate transferred from other assets       0 0 549
Investments sold and not settled included in other assets       7,759 0 0
Non-cash assets acquired            
Goodwill [1] 21,089 21,089 21,089 21,089 21,089  
First National Bank of Fredericksburg [Member]            
Cash Flows from Operating Activities:            
Net income (22)          
Non-cash assets acquired            
Available-for-sale securities 23,831 0 23,831 0 23,831 0
Interest bearing time deposits with other banks 1,236 0 1,236 0 1,236 0
Loans 115,211 0 115,211 0 115,211 0
Premises and equipment 4,743 0 4,743 0 4,743 0
Accrued interest receivable 282 0 282 0 282 0
Bank-owned life insurance 4,598 0 4,598 0 4,598 0
Intangibles 1,981 0 1,981 0 1,981 0
Deferred tax asset 2,979 0 2,979 0 2,979 0
Other assets 2,332 0 2,332 0 2,332 0
Goodwill 10,833 0 10,833 0 10,833 0
Total Non-cash assets acquired 168,026 0 168,026 0 168,026 0
Liabilities assumed            
Noninterest-bearing deposits 71,971 0 71,971 0 71,971 0
Interest-bearing deposits 153,259 0 153,259 0 153,259 0
Accrued interest payable 14 0 14 0 14 0
Other liabilities 4,693 0 4,693 0 4,693 0
Total liabilities assumed 229,937 0 229,937 0 229,937 0
Net non-cash liabilities acquired (61,911) 0 (61,911) 0 (61,911) 0
Cash and cash equivalents acquired $ 83,514 $ 0 $ 83,514 $ 0 $ 83,514 $ 0
[1] Excludes fully amortized intangible assets