Cash Flow Statement

 2013 Y2014 Y2015 Y2016 Y
Source Document12/31/201512/31/201612/31/201612/31/2016
(in thousands)    
Increase (decrease) in cash and cash equivalents 
Cash flows from operating activities 
Net income 4,7446,4407,7498,436
Adjustments to reconcile net income to net cash provided by operating activities 
Provision for depreciation and net amortization 2,5162,2622,4772,448
Benefit for deferred income taxes (33)(93)(342)(293)
Provision (credit) for loan losses 4,015560(530)55
Deferred net loan origination costs (514)(417)(488)(172)
Proceeds from sales of loans held for sale 63,51041,59165,78066,345
Originations of loans held for sale (61,950)(40,882)(64,742)(65,978)
Gain on sale of loans (1,373)(1,047)(1,564)(1,771)
Provision for (recapture of) mortgage servicing rights valuation allowance (259)1990(75)
Net (gain) loss on sale of premises and equipment 05718(17)
Realized gain on sale of securities available for sale (12)(3)00
Net loss on sale and provision for write-down of foreclosed assets 301657322
Increase in cash surrender value of bank-owned life insurance (402)(404)(401)(401)
Gain on life insurance death benefits received NA00(380)
Changes in operating assets and liabilities 
Accrued interest receivable 81502(117)
Other assets 1,59080231131
Accrued expenses and other liabilities 820757848688
Net cash provided by operating activities 13,0349,0359,2018,921
Cash flows from investing activities 
Proceeds from maturities of securities available for sale 41,82415,60616,82318,317
Proceeds from sale of securities available for sale 9861,77400
Proceeds from maturities of securities held to maturity 6,5025,2257,4058,570
Payment for purchase of securities available for sale (31,241)(29,710)(26,752)(31,354)
Payment for purchase of securities held to maturity (8,960)(3,965)(9,743)(8,909)
Cash acquired on branch acquisition 017,74100
Net redemption (net purchase) of bank certificates of deposit 2,229(1,188)(5,754)5,706
Net redemption of FHLB stock (50)00695
Net (increase) decrease in loans (36,746)4,339(10,318)(50,985)
Capital expenditures (334)(595)(939)(289)
Proceeds from sale of premises and equipment 075719
Life insurance death benefits received NA00515
Proceeds from sale of foreclosed assets 8317821,4391,030
Purchase of bank-owned life insurance (611)0(350)0
Net cash provided by (used in) investing activities (25,570)10,016(28,132)(56,685)
Cash flows from financing activities 
Net increase in non-interest-bearing deposits 12,8258,26911,86616,537
Net increase (decrease) in interest-bearing deposits (694)(3,612)31,3594,047
Net increase (decrease) in Federal Home Loan Bank advances (12,075)(17,778)1,77115,727
Net increase (decrease) in other borrowings (287)(10,117)1,2033,333
Repayment of senior subordinated notes (3,000)0(500)(1,000)
Dividends declared (1,289)(1,316)(1,337)(1,379)
Purchase of treasury stock (269)(913)(2,490)(2,554)
Net cash provided by (used in) financing activities (4,789)(25,467)41,87234,711
Net increase (decrease) in cash and cash equivalents (17,325)(6,416)22,941(13,053)
Cash and cash equivalents at beginning 48,84731,52225,10648,047
Cash and cash equivalents at end 31,52225,10648,04734,994
Supplemental cash flow information 
Cash paid during the year for 
Interest 5,6454,6323,5563,753
Income taxes 7592,5603,9953,849
Noncash investing and financing activities 
Loans charged off 4,743969809360
Loans transferred to foreclosed assets 1,3428011,309594
Loans originated on sale of foreclosed properties 2344380547
Grants of unvested restricted stock at fair value 210200200220
Vesting of restricted stock grants 165203216249
Amortization of unrealized gain on securities held to maturity transferred from securities available for sale 420330312188

Data shown on this page is extracted directly from the company’s documents. SNL makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, SNL, as always, stands by its commitment to the quality of the data.

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