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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating activities    
Net Income $ 3,575 $ 2,543
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 1,914 126
Depreciation 843 872
Stock compensation 96 97
Gain on sales of other real estate owned (131) (78)
Write-downs of other real estate owned 97 852
Gain on loan sales (48) (24)
(Gain)/Loss on disposal of fixed assets (5) 2
Net amortization of investment securities discounts and premiums- AFS 146 296
Net amortization of investment securities discounts and premiums- HTM 15 0
(Gains)/losses on sales of investment securities - available-for-sale (227) 17
Amortization of deferred loan fees (255) (232)
(Increase)/decrease in accrued interest receivable and other assets (478) 1,453
(Increase)/decrease in deferred tax benefit (18) 268
(Decrease)/increase in accrued interest payable and other liabilities (201) 135
Earnings on bank owned life insurance (835) (555)
Net cash provided by operating activities 4,488 5,772
Investing activities    
Proceeds from maturities/calls of investment securities available-for-sale 27,383 34,501
Proceeds from maturities/calls of investment securities held-to-maturity 11,350 3,949
Proceeds from sales of investment securities available-for-sale 25,591 24,667
Purchases of investment securities available-for-sale (29,137) (37,797)
Purchases of investment securities held-to-maturity (3,535) (2,316)
Proceeds from sales of other real estate owned 1,247 1,336
Proceeds from loan sales 6,330 2,769
Proceeds from disposal of fixed assets 261 6
Purchase of BOLI policy 0 (5,500)
Proceeds from BOLI death benefit 608 0
Net decrease in FHLB stock 23 344
Net increase in loans (51,167) (8,759)
Purchases of premises and equipment (1,995) (359)
Net cash (used in)/provided by investing activities (13,041) 12,841
Financing activities    
Net increase in deposits 6,474 21,772
Preferred stock dividends paid (1,125) (1,350)
Preferred stock redemption (10,000) 0
Common stock grants 0 1
Net decrease in short-term borrowings (15,471) (11,549)
Payments on long-term borrowings (781) (5,034)
Net cash (used in)/provided by financing activities (20,903) 3,840
(Decrease)/increase in cash and cash equivalents (29,456) 22,453
Cash and cash equivalents at beginning of the year 52,141 35,451
Cash and cash equivalents at end of period 22,685 57,904
Supplemental information    
Interest paid 4,104 5,056
Non-cash investing activities:    
Transfers from loans to other real estate owned $ 3,753 $ 765