XML 21 R9.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash Flows from Operating Activities    
Net income $ 3,662 $ 8,305
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 851 587
Provision for loan losses 500 500
Share-based compensation expense 184 100
Deferred income tax benefit (157) (159)
Loans originated for sale (7,948) (3,727)
Proceeds from sale of loans 7,220 4,345
Gain (Loss) on Sales of Loans, Net (149) (85)
Realized securities gains, net (32) (775)
Gain on disposal of assets (80) (312)
Write-downs of foreclosed properties 447 369
Amortization of securities premiums, net 2,054 2,210
Amortization (accretion) related to acquisitions, net (573) 6
Amortization of intangibles 526 100
Earnings on cash surrender value of bank owned life insurance (538) (514)
(Increase) decrease in accrued interest receivable (343) 193
Increase in other assets (371) (1,076)
Decrease in other liabilities (1,634) (1,274)
Net cash provided by operating activities 3,619 8,793
Cash Flows from Investing Activities    
Proceeds from maturities and calls of securities available for sale 2,010 55
Proceeds from sales of securities available for sale 111,176 52,052
Principal payments received on securities available for sale 16,355 17,946
Purchases of securities available for sale (97,230) (48,716)
Purchases of other investments (10,879) (9,531)
Proceeds from redemptions of other investments 9,830 6,247
Net loan originations (4,609) (86,808)
Purchases of premises and equipment (4,175) (433)
Proceeds from Sale of Property, Plant, and Equipment 0 43
Proceeds from sales of repossessed assets & property held for sale 3,375 2,973
Cash Acquired from Acquisition 39,053 0
Net cash provided by (used in) investing activities 64,906 (66,172)
Cash Flows from Financing Activities    
Net (decrease) increase in demand deposit, NOW and savings accounts (6,279) 31,169
Net decrease in time deposits (25,763) (1,334)
Net (decrease) increase in short-term borrowings (26,043) 34,158
Repayment of long-term borrowings (910) (956)
Net proceeds from issuance of common stock (90) 47
Proceeds from Stock Options Exercised 12 0
Dividends paid on common stock (2,532) (2,134)
Net cash provided by (used in) financing activities (61,605) 60,950
Increase in cash and cash equivalents 6,920 3,571
Cash and cash equivalents:    
Beginning 46,616 [1] 9,487
Ending 53,536 13,058
Cash payments for:    
Interest 8,388 6,999
Income taxes 2,621 3,814
Supplemental Disclosures of Noncash Investing and Financing Activities    
Real property and other assets acquired in settlement of loans 188 172
Noncash or Part Noncash Acquisition, Net Nonmonetary Assets Acquired (Liabilities Assumed)    
Noncash or Part Noncash Acquisition, Value of Assets Acquired 350,894 0
Noncash or Part Noncash Acquisition, Value of Liabilities Assumed $ 361,045 $ 0
[1] Derived from audited consolidated financial statements