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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash Flows from Operating Activities    
Net income $ 8,294 $ 4,822
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation 523 547
Provision for loan losses 750 2,000
Stock compensation expense 50 0
Deferred income tax expense 360 494
Loans originated for sale (1,417) (960)
Proceeds from loans sold 1,944 868
Securities (gains) losses (650) 64
Other-than-temporary impairment of securities 0 1
Loss on disposal of assets 255 129
Write down of foreclosed properties 732 1,891
Amortization of securities premiums (accretion of discounts), net 2,603 2,517
Amortization of intangibles, net 106 155
Decrease (increase) in accrued interest receivable 365 (15)
Increase in cash surrender value of bank owned life insurance (522) (539)
Increase in other assets (847) (492)
(Decrease) increase in other liabilities (296) 388
Net cash provided by operating activities 12,250 11,870
Cash Flows from Investing Activities    
Proceeds from maturities and calls of securities available for sale 615 3,001
Proceeds from sales of securities available for sale 40,593 36,230
Principal payments received on securities available for sale 20,380 16,664
Purchases of securities available for sale (59,324) (52,110)
Purchases of other investments (6,072) (1,968)
Proceeds from sales & redemptions of other investments 3,672 2,347
Net principal payments received on loans (46,372) (59,716)
Purchases of premises and equipment (954) (224)
Proceeds from sales of other repossessed assets & property held for sale 6,482 4,846
Net cash (used in) investing activities (40,980) (50,930)
Cash Flows from Financing Activities    
Net increase (decrease) in demand deposit, NOW and savings accounts (9,902) 64,451
Net increase (decrease) in time deposits 1,869 (10,468)
Net increase in short-term borrowings 50,966 28,960
Repayment of long-term borrowings (954) (41,574)
Repayment of subordinated debt (14,300) 0
Net proceeds from issuance of common stock 4,741 0
Retirement of common stock (1,080) 0
Exercise of stock options 0 15
Dividends paid on common stock (1,667) 0
Dividends paid on preferred stock (191) (387)
Net cash provided by financing activities 29,482 40,997
Increase in cash and cash equivalents 752 1,937
Cash and cash equivalents:    
Beginning 12,510 [1] 11,782
Ending 13,262 13,719
Cash payments for:    
Interest 6,456 8,294
Income taxes 3,632 1,459
Supplemental Schedule of Noncash Investing and Financing Activities    
Other assets acquired in settlement of loans $ 713 $ 1,970
[1] December 31, 2014 financial information has been extracted from audited consolidated financial statements