XML 23 R8.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating activities:      
Net income $ 13,459 $ 12,530 $ 12,344
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 2,573 2,511 2,739
Deferred income taxes (23) 1,378 2,247
Provision for loan losses 18,040 15,512 16,330
Provision for indemnifications 290 274 240
Provision for other real estate owned losses 135 90 29
Share-based compensation 1,218 1,231 1,104
Net accretion of certain acquisition-related fair value adjustments (1,446) (1,918) (2,969)
Accretion of discounts and amortization of premiums on securities, net 1,458 1,551 1,406
Realized gains on sales and calls of securities (52) (29) (29)
Net realized gains on sales of other real estate owned (134) (242) (354)
Net realized gains on sale of corporate premises and equipment (246) (26) (96)
Income from bank-owned life insurance (927) (454) (497)
Origination of loans held for sale (674,317) (549,287) (478,641)
Proceeds from sales of loans held for sale 674,410 539,902 491,327
Gains on sales of loans held for sale (8,120) (6,336) (5,086)
Change in other assets and liabilities:      
Accrued interest receivable (432) (408) (61)
Other assets (3,637) (2,429) (1,283)
Accrued interest payable 5 (42) (103)
Other liabilities 4,991 1,524 (4,470)
Net cash provided by operating activities 27,245 15,332 34,177
Investing activities:      
Proceeds from maturities, calls and sales of securities available for sale 57,355 36,450 38,660
Purchases of securities available for sale (52,547) (37,211) (36,246)
Net (redemptions) issuance of restricted stocks (58) 97 894
Purchase of loan portfolio   (16,258)  
Net increase in loans (110,601) (65,639) (30,288)
Other real estate owned improvements (20)    
Proceeds from sales of other real estate owned 1,384 706 4,382
Purchases of corporate premises and equipment, net (1,691) (1,808) (1,815)
Net cash used in investing activities (106,178) (83,663) (24,413)
Financing activities:      
Net increase in demand, interest-bearing demand and savings deposits 41,605 74,307 51,185
Net increase (decrease) in time deposits 4,683 (26,450) (32,258)
Net (decrease) increase in borrowings (12,730) 10,198 (2,844)
Repurchase of common stock warrant     (2,303)
Issuance of common stock 149 135 133
Purchase of common stock, including shares withheld to pay taxes (414) (1,687) (161)
Proceeds from exercise of stock options 362 1,303 11
Cash dividends (4,464) (4,148) (4,050)
Net cash provided by financing activities 29,191 53,658 9,713
Net (decrease) increase in cash and cash equivalents (49,742) (14,673) 19,477
Cash and cash equivalents at beginning of year 152,943 167,616 148,139
Cash and cash equivalents at end of year 103,201 152,943 167,616
Supplemental disclosure      
Interest paid 8,927 9,026 9,710
Income taxes paid 2,311 560 3,577
Supplemental disclosure of noncash investing and financing activities      
Unrealized (losses) gains on securities available for sale (3,238) (2,090) 7,059
Transfers from loans to other real estate owned 618 824 1,960
Pension adjustment (189) (789) (2,116)
Unrealized gains (losses) on cash flow hedging instruments $ 119 $ (72) $ 227