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Cash Flow Statement

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 2014 Y2015 Y2016 Y2017 Y
Source Document9/30/20159/30/20179/30/20179/30/2017
(in thousands)    
Net income 5,3906,7517,9119,313
Adjustments to reconcile net income to net cash provided by (used in) operating activities 
Provision for loan losses 1,2468596371,301
Depreciation and amortization 1,4451,4521,4611,164
Amortization of premiums and accretion of discounts on securities, net 643679553702
Decrease (increase) in trading account securities (2,109)(3,725)(211)2,080
Loans originated for sale (8,458)(16,980)(27,572)(89,738)
Proceeds on sales of loans 8,86311,32428,79775,638
Net gain on sales of loans (287)(824)(1,145)(4,734)
Net realized and unrealized gain on other real estate owned 73(1)(49)(170)
Net gain on sales of available for sale securities (123)00(30)
Gain on life insurance 0(831)0(189)
Increase in cash surrender value of life insurance (496)(479)(448)(433)
Net gain on sale of premises, equipment and real estate development NA0(2,030)(38)
Loss on tax credit investment NA04,236226
Deferred income taxes 150(36)(2,431)1,836
ESOP and stock compensation expense 1,1271,108628176
Increase in accrued interest receivable (120)(144)(151)(592)
Increase in accrued interest payable (9)11988
Change in other assets and liabilities, net 793273(1,001)1,181
Net Cash Provided By (Used In) Operating Activities 8,128(563)9,194(2,219)
Investment in interest-bearing time deposits 0(1,600)(245)(455)
Proceeds from maturities of interest-bearing time deposit maturities NA02451,120
Purchase of securities available for sale (41,765)(23,669)(15,659)(32,005)
Proceeds from sales of securities available for sale 808004,255
Proceeds from maturities of securities available for sale 9,66011,2276,7253,665
Proceeds from maturities of securities held to maturity 6986661,381208
Principal collected on securities 14,21918,81414,89417,103
Net increase in loans (27,775)(24,519)(52,550)(71,593)
Purchase of Federal Reserve Bank stock 0(945)00
Purchase of Federal Home Loan Bank stock (1,017)(533)(216)0
Proceeds from redemption of Federal Home Loan Bank stock 01,27500
Investment in cash surrender value of life insurance (5,000)NANANA
Proceeds from life insurance NA4251,5640
Investment in historic tax credit entity 0(417)(3,285)(344)
Proceeds from sale of other real estate owned 778809472208
Investment in real estate development and construction (216)(73)(35)0
Purchase of premises and equipment (342)(475)(318)(426)
Proceeds from sale of premises, equipment and real estate development NA01,86619
Net Cash Used In Investing Activities (49,952)(19,015)(45,161)(78,245)
Net increase in deposits 55,46810346,17089,915
Net increase in repurchase agreements 3433
Increase (decrease) in Federal Home Loan Bank line of credit 2005,3196,766(3,568)
Proceeds from Federal Home Loan Bank advances 372,000300,00035,00015,000
Repayment of Federal Home Loan Bank advances (382,000)(280,000)(25,000)(15,000)
Repayment of other long-term debt (161)(180)(4,632)0
Net increase in advance payments by borrowers for taxes and insurance 41135131198
Redemption of preferred stock NA0(17,120)0
Proceeds from exercise of stock options 14615916962
Purchase of treasury stock (3,273)(132)00
Dividends paid on preferred stock (171)(171)(62)0
Dividends paid on common stock (914)(995)(1,110)(1,229)
Net Cash Provided By Financing Activities 41,33924,24240,31585,381
Net Increase in Cash and Cash Equivalents (485)4,6644,3484,917
Cash and cash equivalents at beginning of year 20,81520,33024,99429,342
Cash and Cash Equivalents at End of Year 20,33024,99429,34234,259

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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