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Condensed Consolidated Statements of Cash Flows
$ in Thousands
6 Months Ended
Jun. 30, 2016
USD ($)
Jun. 30, 2015
USD ($)
Cash Flows from Operating Activities    
Net income $ 8,200 $ 7,869
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 1,104 1,005
(Reversal of) provision for loan and lease losses (1,000)  
Write-downs on premises and equipment held for sale   138
Amortization of premiums / discounts 3,520 3,116
Amortization of intangible assets 486 524
Accretion of discount on acquired and purchased loans, net (726) (1,202)
Share-based compensation expense 569 535
Gain on sale of available for sale securities (638) (505)
Gain on sale of assets   (10)
Gain on sale of loans held for sale (988) (870)
Originations of loans held for sale (70,907) (76,630)
Proceeds from sale of loans held for sale 73,116 71,350
Net increase in bank owned life insurance (434) (321)
Decrease in deferred tax assets, net 2,669 2,265
Write-downs on OREO 217  
Tax impact of share-based compensation 108 (69)
Decrease in other assets and other liabilities, net (521) 1,073
Net cash provided by operating activities 14,775 8,268
Cash Flows from Investing Activities    
Purchase of securities, available for sale (95,375) (97,489)
Sale of securities, available for sale 75,577 46,528
Proceeds from principal paydowns of securities, available for sale 28,845 22,941
Proceeds from sale of premises and equipment   9
(Increase) decrease in loans, net (91,675) 2,591
Recoveries on previously charged-off loans 1,012 417
Proceeds from sale of foreclosed collateral   49
Purchase of property, premises and equipment, net (375) (1,191)
Net cash used in investing activities (81,991) (26,145)
Cash Flows from Financing Activities    
Increase in deposits, net 42,134 116,849
Proceeds from Federal Home Loan Bank borrowing 142,500 36,000
Repayments of Federal Home Loan Bank borrowing (125,500) (38,000)
Net proceeds from exercise of stock options, including tax benefits (59) 260
Dividends paid (4,105) (3,771)
Repurchases of common stock (1,635) (28)
Net cash provided by financing activities 53,335 111,310
Net (decrease) increase in cash and cash equivalents (13,881) 93,433
Cash and cash equivalents, beginning of period 69,923 35,580
Cash and cash equivalents, end of period 56,042 129,013
Cash Flow Information    
Interest paid 2,809 2,860
Income taxes paid 2,710 560
Non-Cash Flow Information    
Change in unrealized gain (loss) on available for sale securities $ 8,441 (743)
Loans transferred to foreclosed assets   416
Accretion on preferred stock   $ 70