XML 27 R9.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash Flows from Operating Activities      
Net income $ 16,102 $ 11,356 $ 8,068
Adjustments to reconcile net earnings to net cash      
Depreciation 1,076 1,074 1,161
Provision for loan losses 1,250 2,250 4,500
Stock compensation expense 151 1 2
Deferred income tax expense 190 1,004 1,786
Loans originated for sale (4,762) (2,663) (8,754)
Proceeds from loans sold 4,510 2,457 8,660
Securities losses (1,444) (213) (240)
Other-than-temporary impairment of securities 0 1 118
Loss on disposal of assets (24) 815 501
Write down of foreclosed properties 2,415 3,771 3,722
Amortization of securities premiums (accretion of discounts), net 5,143 5,279 6,032
Amortization of goodwill and purchase accounting adjustments, net 200 262 363
Decrease in accrued interest receivable 293 (169) (48)
Increase in cash surrender value of bank owned life insurance (1,032) (1,088) (1,058)
(Increase) decrease in other assets (1,077) (55) 2,494
Increase (decrease) in other liabilities 657 1,520 860
Net cash provided by operating activities 23,648 25,602 28,167
Cash Flows from Investing Activities      
Proceeds from maturities and calls of securities available for sale 2,043 4,051 2,669
Proceeds from sales of securities available for sale 69,632 80,914 54,340
Principal payments received on securities available for sale 38,502 34,390 62,179
Purchases of securities available for sale (113,677) (111,438) (137,755)
Purchases of other investments (9,997) (3,899) (2,960)
Redemption of Federal Home Loan Bank Stock 7,231 5,532 6,531
Net principal payments received on loans (63,359) (87,983) (16,225)
Purchases of premises and equipment (2,588) (511) (677)
Proceeds from disposal of premises and equipment 0 9 37
Proceeds from sales of other repossessed assets & property held for sale 13,224 14,602 10,654
Purchase of life insurance contracts 0 0 (5,000)
Net cash provided by (used in) investing activities (58,989) (64,333) (26,207)
Cash Flows from Financing Activities      
Net increase in demand deposit, NOW and savings accounts 28,487 100,174 3,524
Net decrease in time deposits (23,125) (42,672) (26,837)
Net increase in short-term borrowings 47,761 60,865 58,810
Proceeds from long-term borrowings 0 0 3,454
Repayment of long-term borrowings (1,909) (86,027) (43,251)
Repayments of Subordinated Debt (16,800) 0 0
Net proceeds from issuance of common stock 4,704 7,822 0
Payments for Repurchase of Common Stock (1,080) 0 0
Origination of Loans to Employee Stock Ownership Plans (2,250)    
Exercise of stock options 51 71 96
Payments of Ordinary Dividends, Common Stock (3,330) 0 0
Dividends paid on preferred stock (191) (774) (776)
Net cash provided by (used in) financing activities 32,318 39,459 (4,980)
Increase in cash and cash equivalents (3,023) 728 (3,020)
Cash and cash equivalents:      
Beginning 12,510 11,782 14,802
Ending 9,487 12,510 11,782
Cash payments for:      
Interest 12,854 15,862 18,920
Income taxes 7,440 2,843 1,118
Supplemental Schedule of Noncash Investing and Financing Activities      
Other assets acquired in settlement of loans $ 2,622 $ 2,961 $ 11,823