|
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
| Cash flows from operating activities |
|
|
|
| Net income |
$ 11,769 |
$ 10,566 |
$ 9,394 |
| Adjustments to reconcile net income to net cash provided by operations: |
|
|
|
| Depreciation/amortization |
1,772 |
1,546 |
1,377 |
| Net amortization of premiums on securities |
978 |
1,223 |
1,438 |
| Amortization of deferred loan origination fees and costs |
(774) |
(588) |
(311) |
| Amortization of intangible assets |
0 |
0 |
190 |
| Provision for loan losses |
1,600 |
1,470 |
1,750 |
| Provision for losses on foreclosed real estate |
60 |
342 |
2,663 |
| Deferred income tax expense (benefit) |
77 |
(437) |
385 |
| Amortization of investment in real estate partnership |
208 |
325 |
335 |
| Increase in bank owned life insurance |
(714) |
(727) |
(633) |
| Originations of loans held for sale |
(21,894) |
(52,877) |
(72,298) |
| Proceeds from sales of loans held for sale |
22,396 |
56,215 |
73,403 |
| Net gain on sales of loans held for sale |
(452) |
(1,019) |
(1,327) |
| Loss on disposal of premises and equipment |
5 |
1 |
9 |
| Net gain on sales of securities available-for-sale |
(518) |
(83) |
(427) |
| Net loss (gain) on sales of foreclosed real estate |
50 |
(15) |
167 |
| Stock-based compensation |
288 |
318 |
295 |
| (Increase) decrease in interest receivable |
(119) |
(4) |
73 |
| (Increase) decrease in other assets |
(442) |
1,475 |
416 |
| Increase (decrease) in interest payable |
86 |
(79) |
(51) |
| Increase (decrease) in other liabilities |
969 |
(4) |
(365) |
| Net cash provided by operating activities |
15,345 |
17,648 |
16,483 |
| Cash flows from investing activities |
|
|
|
| Purchases of securities, available-for-sale |
(37,736) |
(63,161) |
(63,119) |
| Maturities, repayments and calls of securities, available-for-sale |
40,682 |
41,855 |
44,178 |
| Sales of securities, available-for-sale |
12,911 |
20,090 |
17,440 |
| Redemption (purchase) of restricted investment in bank stock |
943 |
(1,879) |
772 |
| Net increase in loans made to customers |
(61,940) |
(123,171) |
(44,689) |
| Purchases of premises and equipment |
(5,649) |
(4,653) |
(2,018) |
| Investment in bank owned life insurance |
(1,186) |
(5,307) |
(237) |
| Proceeds from bank owned life insurance |
82 |
0 |
206 |
| Investment in foreclosed real estate |
0 |
0 |
(17) |
| Proceeds from sales of foreclosed real estate |
2,970 |
207 |
10,028 |
| Net cash used in investing activities |
(48,923) |
(136,019) |
(37,456) |
| Cash flows from financing activities |
|
|
|
| Net increase in demand and savings deposits |
44,599 |
34,734 |
63,343 |
| Net increase in time deposits |
(14,929) |
(10,738) |
(16,435) |
| Net increase in short-term borrowings |
1,821 |
21,007 |
9,099 |
| Proceeds from issuance of long-term debt |
20,000 |
40,000 |
0 |
| Repayment of long-term debt |
(87) |
(322) |
(15,813) |
| Tax benefit on vested restricted stock |
52 |
89 |
44 |
| Cash dividends paid to preferred shareholders |
(207) |
(250) |
(634) |
| Cash dividends paid to common shareholders |
(2,611) |
(2,074) |
(1,690) |
| Redemption of preferred stock |
(13,000) |
0 |
0 |
| Net issuance of common stock |
13,982 |
1,239 |
627 |
| Cash paid in lieu of fractional shares |
(10) |
(9) |
(6) |
| Net cash provided by financing activities |
49,610 |
83,676 |
38,535 |
| Net increase (decrease) in cash and cash equivalents |
16,032 |
(34,695) |
17,562 |
| Cash and cash equivalents at beginning of year |
15,062 |
49,757 |
32,195 |
| Cash and cash equivalents at end of period |
$ 31,094 |
$ 15,062 |
$ 49,757 |