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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
NET INCOME $ 4,214 $ 3,040
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion 1,642 1,096
Provision for loan losses 150 635
Loss on sale/writedown of ORE 129 195
Gain on sale of bank premises (119) 0
Restricted stock expense 362 295
Increase in cash value of life insurance (207) (158)
Federal Home Loan Bank stock dividends (4) (2)
Changes in:    
Interest receivable 31 (82)
Loans held for sale, net 183 566
Interest payable (61) (103)
Other, net (3,895) (1,505)
NET CASH PROVIDED BY OPERATING ACTIVITIES 2,425 3,977
CASH FLOWS FROM INVESTING ACTIVITIES:    
Maturities, calls and paydowns of available- for-sale and held-to-maturity securities 28,281 19,633
Purchases of securities available-for-sale and held-to-maturity securities (11,496) (37,452)
Net redemptions of other securities 1,451 1,409
Net increase in loans (26,766) (28,912)
Purchase of bank owned life insurance 0 (7,500)
Proceeds from sale of bank premises 949 0
Net increase in premises and equipment (408) (17)
NET CASH USED IN INVESTING ACTIVITIES (7,989) (52,839)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Increase in deposits 69,417 104,185
Net decrease in borrowed funds (45,459) (38,500)
Dividends paid on common stock (389) (376)
Dividends paid on preferred stock (171) (171)
Repurchase of restricted stock for payment of taxes (92) (85)
Repurchase of shares issued in BCB acquisition (36) 0
Repurchase of warrants (303) 0
NET CASH PROVIDED BY FINANCING ACTIVITIES 22,967 65,053
NET INCREASE IN CASH 17,403 16,191
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 44,618 39,252
CASH AND CASH EQUIVALENTS AT END OF PERIOD 62,021 55,443
SUPPLEMENTAL DISCLOSURES:    
CASH PAYMENTS FOR INTEREST 1,764 926
CASH PAYMENTS FOR INCOME TAXES 3,305 275
LOANS TRANSFERRED TO OTHER REAL ESTATE 506 1,354
ISSUANCE OF RESTRICTED STOCK GRANTS $ 67 $ 63