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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities      
Net income $ 12,174 $ 12,446 $ 13,150
Adjustments to reconcile net income to net cash from operating activities      
Depreciation 1,934 1,695 1,575
Provision (credit) for loan losses 1,748 326 534
Amortization (accretion), net 2,624 462 701
Writedowns (gains) on other real estate owned, net 689 1,063 (714)
Stock compensation expense 178 204 248
Loans originated for sale 0 (1,679) (6,679)
Secondary market loans sold 0 1,941 6,729
Secondary market mortgage income 0 (38) (199)
Gain on the disposition of securities available for sale (4) 0 (29)
Changes in :      
Interest receivable (102) 57 584
Deferred income taxes (223) 621 3,356
Other assets (67) (48) (484)
Interest payable (44) (113) (83)
Other liabilities (938) (105) (166)
Net cash from operating activities 17,969 16,832 18,523
Cash flows from investing activities      
Net change on time deposits with other banks 2,141 0 0
Purchases of securities available for sale (44,835) (95,606) (36,435)
Proceeds from maturities and calls of securities available for sale 82,332 66,927 52,043
Proceeds from the sale of securities available for sale 47 0 13,319
Purchase of FHLB stock 0 (76) 0
Redemption of FHLB stock 210 0 1,307
Acquisition of subsidiary, net of cash received 11,912 0 40,973
Net change in loans (43,868) 24,552 (45,545)
Purchases of premises and equipment, net (478) (912) (1,391)
Improvements to OREO property 0 (29) (194)
Proceeds from sales of other real estate owned 1,636 4,672 3,901
Net cash from investing activities 9,097 (472) 27,978
Cash flows from financing activities      
Net change in deposits 14,048 (14,863) (33,041)
Net change in agreements to repurchase securities (42) 6,114 4,261
Repayment of other borrowed funds (2,433) (16,376) (2,422)
Repayment of other FHLB advances (1,262) 0 0
Redemption of preferred stock 0 0 (12,000)
Proceeds from other borrowings 0 15,946 0
Proceeds from stock option exercises 751 222 731
Purchase of warrant 0 (5,675) 0
Cash in lieu of fractional shares (16) 0 0
Preferred stock dividends paid 0 0 (553)
Common stock dividends paid (5,933) (4,573) (4,854)
Net cash from financing activities 5,113 (19,205) (47,878)
Net change in cash and cash equivalents 32,179 (2,845) (1,377)
Cash and cash equivalents at beginning of year 72,539 75,384 76,761
Cash and cash equivalents at end of year 104,718 72,539 75,384
Cash paid during year for -      
Interest 4,686 4,144 4,419
Income taxes paid, net 7,123 5,946 4,302
Non-cash transactions      
Loans transferred to real estate acquired through foreclosure 1,950 5,778 1,677
Amount transferred from retained earnings to common stock related to stock dividend 17,638 0 0
Subsidiaries acquired:      
Fair value of assets acquired from Bankshares 237,341 0 0
Common stock issued to acquire Bankshares 22,041 0 0
Liabilities assumed of Bankshares $ 215,300 $ 0 $ 0