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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash Flows from Operating Activities    
Net income $ 12,586 $ 11,956
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation 884 790
Provision for loan losses 500 1,000
Stock compensation expense 150 101
Deferred income tax expense (benefit) (235) 97
Loans originated for sale (7,068) (2,997)
Proceeds from loans sold 7,847 3,441
Securities gains (836) (1,023)
(Gain) loss on disposal of assets (480) 290
Write-downs of foreclosed properties 503 1,779
Amortization of securities premiums (accretion of discounts), net 3,338 3,952
Amortization of intangibles, net 150 159
Decrease in accrued interest receivable 75 543
Increase in cash surrender value of bank owned life insurance (772) (781)
Increase in other assets (762) (564)
Increase in other liabilities 673 239
Net cash provided by operating activities 16,553 18,982
Cash Flows from Investing Activities    
Proceeds from maturities and calls of securities available for sale 630 1,743
Proceeds from sales of securities available for sale 63,641 54,080
Principal payments received on securities available for sale 27,696 30,884
Purchases of securities available for sale (73,595) (79,844)
Purchases of other investments (15,389) (6,528)
Proceeds from sales & redemptions of other investments 10,942 5,695
Net loans made to customers (156,744) (45,882)
Purchases of premises and equipment (1,199) (1,187)
Proceeds from Sale of Property, Plant, and Equipment 43 0
Proceeds from sales of other repossessed assets & property held for sale 3,659 8,984
Net cash (used in) investing activities (140,316) (32,055)
Cash Flows from Financing Activities    
Net increase in demand deposit, NOW and savings accounts 54,831 22,248
Net increase (decrease) in time deposits 35,244 (11,502)
Net increase in short-term borrowings 63,263 21,658
Repayment of long-term borrowings (1,435) (1,431)
Repayment of subordinated debt 0 (16,800)
Net proceeds from issuance of common stock 0 4,704
Retirement of common stock 0 (1,080)
Origination of Loans to Employee Stock Ownership Plans 0 (2,250)
Dividends paid on common stock (3,128) (2,504)
Dividends paid on preferred stock 0 (191)
Net cash provided by financing activities 148,775 12,852
Increase (decrease) in cash and cash equivalents 25,012 (221)
Cash and cash equivalents:    
Beginning 9,487 [1] 12,510
Ending 34,499 12,289
Cash payments for:    
Interest 10,889 9,693
Income taxes 5,768 5,345
Supplemental Schedule of Noncash Investing and Financing Activities    
Real property and other assets acquired in settlement of loans $ 2,053 $ 2,404
[1] December 31, 2015 financial information has been extracted from audited consolidated financial statements