XML 21 R9.htm IDEA: XBRL DOCUMENT v3.19.2
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash Flows from Operating Activities    
Net income $ 15,656 $ 13,723
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 1,242 1,058
Provision for loan losses 550 1,250
Share-based compensation expense 281 193
Deferred income tax benefit (236) (193)
Loans originated for sale (6,843) (7,764)
Proceeds from sale of loans 7,080 7,775
Gain (Loss) on Sales of Loans, Net (151) (146)
Realized securities gains, net (1,082) (819)
Loss (gain) on disposal of assets 155 (16)
Gain (Loss) on Disposition of Business (1,906) 0
Write-downs of foreclosed properties 1,445 420
Amortization of securities premiums, net 1,290 1,872
Amortization (accretion) related to acquisitions, net (632) (310)
Amortization of intangibles 897 848
Earnings on cash surrender value of bank owned life insurance (590) (574)
Decrease (increase) in accrued interest receivable 229 (96)
Increase in other assets (11) (415)
Increase in other liabilities 1,232 1,358
Net cash provided by operating activities 18,606 18,164
Cash Flows from Investing Activities    
Proceeds from maturities and calls of securities available for sale 1,445 1,050
Proceeds from Sale of Debt Securities, Available-for-sale 114,171 69,235
Principal payments received on securities available for sale 13,822 13,393
Payments to Acquire Debt Securities, Available-for-sale 46,060 44,243
Purchases of other investments (6,930) (5,938)
Proceeds from redemptions of other investments 9,142 7,397
Net loan originations (85,633) (26,200)
Purchases of premises and equipment (5,863) (2,866)
Proceeds from Sale of Property, Plant, and Equipment 3 12
Improvements to property held for sale (33) (795)
Proceeds from sales of repossessed assets & property held for sale 2,403 1,225
Proceeds from Divestiture of Businesses 7,117 0
Cash Acquired from Acquisition 20,589 0
Net cash provided by investing activities 24,173 12,270
Cash Flows from Financing Activities    
Net increase in demand deposit, NOW and savings accounts 20,505 25,848
Net increase in time deposits 29,954 13,661
Net decrease in short-term borrowings (83,741) (48,071)
Repayment of long-term borrowings (9) (25,008)
Proceeds from issuance of common stock, net of issuance costs 40 126
Payments for Repurchase of Common Stock 8,952 0
Proceeds from Stock Options Exercised 7 4
Dividends paid on common stock (3,648) (3,214)
Net cash used in financing activities (45,844) (36,654)
Decrease in cash and cash equivalents (3,065) (6,220)
Cash and cash equivalents:    
Beginning 59,540 [1] 52,631
Ending 56,475 46,411
Cash payments for:    
Interest 14,645 11,713
Income taxes 3,845 4,066
Supplemental Disclosures of Noncash Investing and Financing Activities    
Real property and other assets acquired in settlement of loans 3,937 906
Noncash or Part Noncash Acquisition, Other Assets Acquired 100,377 0
Noncash or Part Noncash Acquisition, Other Liabilities Assumed $ 114,151 $ 0
[1] Derived from audited consolidated financial statements