XML 16 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 10,421 $ 9,467
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 1,740 770
Provision for off-balance sheet items 0 30
Depreciation and amortization 321 265
Amortization and accretion of investment securities 1,089 1,750
Deferred income taxes (381) 141
Investment securities gains, net (204) (155)
Earnings on bank owned life insurance (499) (515)
Originations of loans held for sale (17,144) (15,698)
Proceeds from sales of loans held for sale 17,789 15,950
Realized gains on loans sold (383) (225)
Increase in accrued interest receivable 303 223
Increase (decrease) in accrued interest payable 11 (98)
Other, net (360) (1,137)
Net cash provided by operating activities 12,703 10,768
Available-for-sale securities:    
Proceeds from sales 30,393 12,077
Proceeds from maturity and principal repayments 47,677 43,759
Purchase of securities (20,548) (44,567)
Purchase of interest bearing time deposits with other banks (6,301) 0
Proceeds from sale of interest bearing time deposits with other banks 2,741 0
Proceeds from matured interest bearing time deposits with other banks 496 744
Proceeds from redemption of regulatory stock 6,090 459
Purchase of regulatory stock (5,668) (1,138)
Net increase in loans (107,864) (55,846)
Purchase of premises and equipment (179) (500)
Proceeds from sale of foreclosed assets held for sale 312 900
Net cash used in investing activities (52,851) (44,112)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in deposits 46,602 20,716
Proceeds from long-term borrowings 7 541
Repayments of long-term borrowings 0 (534)
Net (decrease) increase in short-term borrowed funds (6,041) 10,221
Purchase of treasury and restricted stock (645) (1,713)
Dividends paid (3,714) (3,900)
Net cash provided by financing activities 36,209 25,331
Net decrease in cash and cash equivalents (3,939) (8,013)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 17,754 24,384
CASH AND CASH EQUIVALENTS AT END OF PERIOD 13,815 16,371
Supplemental Disclosures of Cash Flow Information:    
Interest paid 4,169 3,846
Income taxes paid 2,950 1,700
Loans transferred to foreclosed property $ 785 $ 633