XML 21 R9.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash Flows from Operating Activities    
Net income $ 8,305 $ 8,294
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation 587 523
Provision for loan losses 500 750
Stock compensation expense 100 50
Deferred income tax expense (benefit) (159) 360
Loans originated for sale (3,727) (1,417)
Proceeds from loans sold 4,260 1,944
Securities gains (775) (650)
(Gain) loss on disposal of assets (312) 255
Write down of foreclosed properties 369 732
Amortization of securities premiums (accretion of discounts), net 2,210 2,603
Amortization of intangibles, net 106 106
Decrease in accrued interest receivable 193 365
Increase in cash surrender value of bank owned life insurance (514) (522)
Increase in other assets (1,076) (847)
Decrease in other liabilities (1,274) (296)
Net cash provided by operating activities 8,793 12,250
Cash Flows from Investing Activities    
Proceeds from maturities and calls of securities available for sale 55 615
Proceeds from sales of securities available for sale 52,052 40,593
Principal payments received on securities available for sale 17,946 20,380
Purchases of securities available for sale (48,716) (59,324)
Purchases of other investments (9,531) (6,072)
Proceeds from sales & redemptions of other investments 6,247 3,672
Net loans made to customers (86,808) (46,372)
Purchases of premises and equipment (433) (954)
Proceeds from Sale of Property, Plant, and Equipment 43 0
Proceeds from sales of other repossessed assets & property held for sale 2,973 6,482
Net cash (used in) investing activities (66,172) (40,980)
Cash Flows from Financing Activities    
Net increase (decrease) in demand deposit, NOW and savings accounts 31,169 (9,902)
Net increase (decrease) in time deposits (1,333) 1,869
Net increase in short-term borrowings 34,158 50,966
Repayment of long-term borrowings (956) (954)
Repayment of subordinated debt 0 (14,300)
Net proceeds from issuance of common stock 0 4,741
Retirement of common stock 0 (1,080)
Dividends paid on common stock (2,088) (1,667)
Dividends paid on preferred stock 0 (191)
Net cash provided by financing activities 60,950 29,482
Increase in cash and cash equivalents 3,571 752
Cash and cash equivalents:    
Beginning 9,487 [1] 12,510
Ending 13,058 13,262
Cash payments for:    
Interest 6,999 6,456
Income taxes 3,814 3,632
Supplemental Schedule of Noncash Investing and Financing Activities    
Real property and other assets acquired in settlement of loans $ 172 $ 713
[1] December 31, 2015 financial information has been extracted from audited consolidated financial statements