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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Operating activities    
Net Income $ 4,491 $ 3,938
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 626 1,629
Depreciation 1,307 1,471
Stock compensation 144 95
(Gain)/loss on sales of other real estate owned (718) 921
Write-downs of other real estate owned 1,202 885
Gain on loan sales (40) (37)
Loss on disposal of fixed assets 2 3
Loss on sales of investment securities - available-for-sale (62) 7
Gain on sales of investment securities - held for trading 0 (1,100)
Amortization of deferred loan fees (408) (363)
Decrease in accrued interest receivable and other assets 2,638 2,229
Decrease in deferred tax benefit 377 (4)
Decrease in accrued interest payable and other liabilities (137) (5,685)
Earnings on bank owned life insurance (849) (737)
Net cash provided by operating activities 9,087 3,423
Investing activities    
Proceeds from maturities/calls of investment securities available-for-sale 38,713 122,291
Proceeds from maturities/calls of investment securities held-to-maturity 6,348 3,275
Proceeds from sales of investment securities available-for-sale 52,672 56,838
Proceeds from sales of investment securities held for trading 0 1,100
Purchases of investment securities available-for-sale (47,640) (153,924)
Purchases of investment securities held-to-maturity (3,709) (2,421)
Proceeds from sales of other real estate owned 5,870 5,667
Proceeds from loan sales 4,935 4,312
Proceeds from disposal of fixed assets 6 0
Purchase of BOLI policy (5,500) 0
Net decrease in FHLB stock 1,620 389
Net increase in loans (8,967) (23,782)
Purchases of premises and equipment (699) (570)
Net cash provided by investing activities 43,649 13,175
Financing activities    
Net increase/(decrease) in deposits 15,018 (4,370)
Preferred stock dividends paid (2,025) (8,420)
Common Stock Grants 1 0
Net (decrease)/increase in short-term borrowings (1,341) 4,318
Payments on long-term borrowings (35,051) (49)
Net cash used in financing activities (23,398) (8,521)
Increase in cash and cash equivalents 29,338 8,077
Cash and cash equivalents at beginning of the year 35,451 43,063
Cash and cash equivalents at end of period 64,789 51,140
Supplemental information    
Interest paid 7,533 14,995
Non-cash investing activities:    
Transfers from loans to other real estate owned 899 2,030
Security sold September 30, settled in October 0 618
Transfers from securities available for sale to held-to-maturity 0 103,934
Available-for-sale Securities [Member]    
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization of investment securities discounts and premiums 436 152
Held-to-maturity Securities [Member]    
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization of investment securities discounts and premiums $ 78 $ 19