Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
|
| NET INCOME |
$ 8,055
|
$ 8,965
|
$ 7,780
|
| Adjustments to reconcile net income to net cash from operating activities: |
|
|
|
| Provision for loan losses |
3,510
|
1,880
|
1,290
|
| Depreciation and amortization |
2,751
|
1,981
|
1,945
|
| Net amortization of securities |
2,275
|
1,472
|
2,646
|
| Security gains |
(94)
|
(457)
|
(863)
|
| Stock compensation expense |
486
|
116
|
0
|
| Impairment of equity securities |
0
|
0
|
3
|
| Loss on sale of other real estate owned |
286
|
53
|
75
|
| Earnings on bank owned life insurance |
(702)
|
(459)
|
(478)
|
| Income recognized from death benefit on bank owned life insurance |
0
|
0
|
(218)
|
| Origination of loans held for sale |
(46,201)
|
(15,911)
|
(25,085)
|
| Proceeds from loans held for sale |
46,455
|
15,916
|
29,056
|
| Net gains on sale of loans |
(1,101)
|
(358)
|
(505)
|
| Net change in other assets and liabilities |
(9,397)
|
(946)
|
(1,394)
|
| NET CASH FROM OPERATING ACTIVITIES |
6,323
|
12,252
|
14,252
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
|
| Proceeds from maturities and repayments of securities available for sale |
63,243
|
49,401
|
75,015
|
| Proceeds from sales of securities available for sale |
102,257
|
57,170
|
94,016
|
| Purchases of securities available for sale |
(72,683)
|
(64,400)
|
(149,886)
|
| Loan originations and payments, net |
(139,656)
|
(35,352)
|
(45,529)
|
| Proceeds from sale of other real estate owned |
553
|
337
|
282
|
| Purchase of bank owned life insurance |
(6,000)
|
0
|
0
|
| Proceeds from BOLI death benefit |
0
|
0
|
329
|
| Proceeds from sale of land and building |
723
|
0
|
118
|
| Additions to premises and equipment |
(1,299)
|
(972)
|
(215)
|
| Net cash received (paid) in business combinations |
29,749
|
0
|
(2,111)
|
| NET CASH FROM INVESTING ACTIVITIES |
(23,113)
|
6,184
|
(27,981)
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
|
| Net change in deposits |
(44,659)
|
487
|
(3,793)
|
| Net change in short-term borrowings |
91,159
|
(22,481)
|
1,731
|
| Repayments of long-term borrowings |
(3,228)
|
(1,441)
|
(601)
|
| New advances for long term borrowing |
5,000
|
10,000
|
10,000
|
| Cash dividends paid |
(2,683)
|
(2,236)
|
(2,248)
|
| Proceeds from reissuance of treasury shares |
0
|
32
|
0
|
| Repurchase of common shares |
(213)
|
(2,882)
|
(1,606)
|
| NET CASH FROM FINANCING ACTIVITIES |
45,376
|
(18,521)
|
3,483
|
| NET CHANGE IN CASH AND CASH EQUIVALENTS |
28,586
|
(85)
|
(10,246)
|
| Beginning cash and cash equivalents |
27,428
|
27,513
|
37,759
|
| Ending cash and cash equivalents |
56,014
|
27,428
|
27,513
|
| Supplemental cash flow information: |
|
|
|
| Interest paid |
4,047
|
4,623
|
5,095
|
| Income taxes paid |
2,620
|
1,925
|
1,130
|
| Supplemental noncash disclosures: |
|
|
|
| Transfer of loans and property to other real estate owned |
888
|
368
|
193
|
| Issuance of stock for business combinations |
69,780
|
0
|
1,400
|
| Contingent consideration for NAI acquisition |
0
|
0
|
920
|
| Security purchases not settled |
$ 1,338
|
$ 0
|
$ 0
|