XML 51 R9.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Cash Flows from Operating Activities      
Net income $ 11,356us-gaap_ProfitLoss $ 8,068us-gaap_ProfitLoss $ 5,713us-gaap_ProfitLoss
Adjustments to reconcile net earnings to net cash      
Depreciation 1,074us-gaap_Depreciation 1,161us-gaap_Depreciation 1,286us-gaap_Depreciation
Provision for loan losses 2,250us-gaap_ProvisionForLoanAndLeaseLosses 4,500us-gaap_ProvisionForLoanAndLeaseLosses 8,500us-gaap_ProvisionForLoanAndLeaseLosses
Stock compensation expense 1us-gaap_ShareBasedCompensation 2us-gaap_ShareBasedCompensation 2us-gaap_ShareBasedCompensation
Deferred income tax expense 1,004us-gaap_DeferredIncomeTaxExpenseBenefit 1,786us-gaap_DeferredIncomeTaxExpenseBenefit (502)us-gaap_DeferredIncomeTaxExpenseBenefit
Loans originated for sale (2,663)us-gaap_PaymentsForOriginationAndPurchasesOfLoansHeldForSale (8,754)us-gaap_PaymentsForOriginationAndPurchasesOfLoansHeldForSale (8,258)us-gaap_PaymentsForOriginationAndPurchasesOfLoansHeldForSale
Proceeds from loans sold 2,457us-gaap_ProceedsFromSaleOfLoansHeldForSale 8,660us-gaap_ProceedsFromSaleOfLoansHeldForSale 8,032us-gaap_ProceedsFromSaleOfLoansHeldForSale
Securities losses (213)us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments (240)us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments (2,348)us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments
Other-than-temporary impairment of securities 1us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities 118us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities 451us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities
Loss on disposal of assets 815us-gaap_GainsLossesOnSalesOfAssets 501us-gaap_GainsLossesOnSalesOfAssets 677us-gaap_GainsLossesOnSalesOfAssets
Write down of foreclosed properties 3,771us-gaap_ImpairmentOfRealEstate 3,722us-gaap_ImpairmentOfRealEstate 6,862us-gaap_ImpairmentOfRealEstate
Amortization of securities premiums (accretion of discounts), net 5,279us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments 6,032us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments 4,622us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments
Amortization of goodwill and purchase accounting adjustments, net 262smmf_AmortizationOfGoodwillAndPurchaseAccountingAdjustmentsNet 363smmf_AmortizationOfGoodwillAndPurchaseAccountingAdjustmentsNet 363smmf_AmortizationOfGoodwillAndPurchaseAccountingAdjustmentsNet
Tax benefit of exercise of stock options 0us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities 16us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities 0us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
Decrease in accrued interest receivable (169)us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet (48)us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet 163us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet
Increase in cash surrender value of bank owned life insurance (1,088)us-gaap_LifeInsuranceCorporateOrBankOwnedChangeInValue (1,058)us-gaap_LifeInsuranceCorporateOrBankOwnedChangeInValue (269)us-gaap_LifeInsuranceCorporateOrBankOwnedChangeInValue
(Increase) decrease in other assets (55)us-gaap_IncreaseDecreaseInOtherOperatingAssets 2,478us-gaap_IncreaseDecreaseInOtherOperatingAssets (2,289)us-gaap_IncreaseDecreaseInOtherOperatingAssets
Increase (decrease) in other liabilities 1,520us-gaap_IncreaseDecreaseInOtherOperatingLiabilities 860us-gaap_IncreaseDecreaseInOtherOperatingLiabilities (1,259)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities
Net cash provided by operating activities 25,602us-gaap_NetCashProvidedByUsedInOperatingActivities 28,167us-gaap_NetCashProvidedByUsedInOperatingActivities 21,746us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash Flows from Investing Activities      
Proceeds from maturities and calls of securities available for sale 4,051us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities 2,669us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities 4,618us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
Proceeds from sales of securities available for sale 80,914us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities 54,340us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities 72,056us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities
Principal payments received on securities available for sale 34,390smmf_ProceedsFromPrepaymentsOfAvailableForSaleSecurities 62,179smmf_ProceedsFromPrepaymentsOfAvailableForSaleSecurities 66,377smmf_ProceedsFromPrepaymentsOfAvailableForSaleSecurities
Purchases of securities available for sale (111,438)us-gaap_PaymentsToAcquireAvailableForSaleSecurities (137,755)us-gaap_PaymentsToAcquireAvailableForSaleSecurities (141,297)us-gaap_PaymentsToAcquireAvailableForSaleSecurities
Purchases of other investments (3,899)smmf_PurchasesOfOtherInvestments (2,960)smmf_PurchasesOfOtherInvestments 0smmf_PurchasesOfOtherInvestments
Redemption of Federal Home Loan Bank Stock 5,532us-gaap_PaymentsForProceedsFromFederalHomeLoanBankStock 6,531us-gaap_PaymentsForProceedsFromFederalHomeLoanBankStock 4,763us-gaap_PaymentsForProceedsFromFederalHomeLoanBankStock
Proceeds from maturities and calls of other investments 0us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfOtherInvestments 0us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfOtherInvestments 2,000us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfOtherInvestments
Net principal payments received on loans (87,983)us-gaap_PaymentsForProceedsFromLoansReceivable (16,225)us-gaap_PaymentsForProceedsFromLoansReceivable 11,906us-gaap_PaymentsForProceedsFromLoansReceivable
Purchases of premises and equipment (511)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (677)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (343)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Proceeds from disposal of premises and equipment 9us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 37us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 0us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Proceeds from sales of other repossessed assets & property held for sale 14,602us-gaap_ProceedsFromSaleOfForeclosedAssets 10,654us-gaap_ProceedsFromSaleOfForeclosedAssets 9,373us-gaap_ProceedsFromSaleOfForeclosedAssets
Purchase of life insurance contracts 0us-gaap_PaymentsToAcquireLifeInsurancePolicies (5,000)us-gaap_PaymentsToAcquireLifeInsurancePolicies 0us-gaap_PaymentsToAcquireLifeInsurancePolicies
Net cash provided by (used in) investing activities (64,333)us-gaap_NetCashProvidedByUsedInInvestingActivities (26,207)us-gaap_NetCashProvidedByUsedInInvestingActivities 29,453us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash Flows from Financing Activities      
Net increase in demand deposit, NOW and savings accounts 100,174smmf_IncreaseDecreaseInDepositsExcludingTimeDeposits 3,524smmf_IncreaseDecreaseInDepositsExcludingTimeDeposits 13,390smmf_IncreaseDecreaseInDepositsExcludingTimeDeposits
Net decrease in time deposits (42,672)us-gaap_IncreaseDecreaseInTimeDeposits (26,837)us-gaap_IncreaseDecreaseInTimeDeposits (2,764)us-gaap_IncreaseDecreaseInTimeDeposits
Net increase in short-term borrowings 60,865us-gaap_ProceedsFromRepaymentsOfShortTermDebt 58,810us-gaap_ProceedsFromRepaymentsOfShortTermDebt (11,998)us-gaap_ProceedsFromRepaymentsOfShortTermDebt
Proceeds from long-term borrowings 0us-gaap_ProceedsFromIssuanceOfLongTermDebt 3,454us-gaap_ProceedsFromIssuanceOfLongTermDebt 0us-gaap_ProceedsFromIssuanceOfLongTermDebt
Repayment of long-term borrowings (86,027)us-gaap_RepaymentsOfLongTermDebt (43,251)us-gaap_RepaymentsOfLongTermDebt (66,986)us-gaap_RepaymentsOfLongTermDebt
Net proceeds from issuance of common stock 7,822us-gaap_ProceedsFromIssuanceOfCommonStock 0us-gaap_ProceedsFromIssuanceOfCommonStock 0us-gaap_ProceedsFromIssuanceOfCommonStock
Exercise of stock options 71us-gaap_ProceedsFromStockOptionsExercised 96us-gaap_ProceedsFromStockOptionsExercised 0us-gaap_ProceedsFromStockOptionsExercised
Dividends paid on preferred stock (774)us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock (776)us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock (731)us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock
Net cash provided by (used in) financing activities 39,459us-gaap_NetCashProvidedByUsedInFinancingActivities (4,980)us-gaap_NetCashProvidedByUsedInFinancingActivities (69,089)us-gaap_NetCashProvidedByUsedInFinancingActivities
Increase in cash and cash equivalents 728us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (3,020)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (17,890)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents:      
Beginning 11,782us-gaap_CashAndCashEquivalentsAtCarryingValue 14,802us-gaap_CashAndCashEquivalentsAtCarryingValue 32,692us-gaap_CashAndCashEquivalentsAtCarryingValue
Ending 12,510us-gaap_CashAndCashEquivalentsAtCarryingValue 11,782us-gaap_CashAndCashEquivalentsAtCarryingValue 14,802us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash payments for:      
Interest 15,862us-gaap_InterestPaid 18,920us-gaap_InterestPaid 24,745us-gaap_InterestPaid
Income taxes 2,843us-gaap_IncomeTaxesPaid 1,118us-gaap_IncomeTaxesPaid 2,642us-gaap_IncomeTaxesPaid
Supplemental Schedule of Noncash Investing and Financing Activities      
Other assets acquired in settlement of loans $ 2,961us-gaap_FairValueOfAssetsAcquired $ 11,823us-gaap_FairValueOfAssetsAcquired $ 8,363us-gaap_FairValueOfAssetsAcquired