Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities    
Net income $ 4,460 $ 3,495
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 537 659
Stock compensation expense 114 147
Provision for loan losses (500) (100)
Origination of loans for sale (16,960) (18,883)
Proceeds from sales of loans originated for sale 16,802 19,887
Net gains on mortgage loans (428) (487)
Gain on sales of securities (3) (89)
Write-down of other real estate 64 129
Net gain on sales of other real estate (149) (92)
Deferred income tax expense 162 (68)
Change in accrued interest receivable and other assets 869 (1,124)
Earnings in bank-owned life insurance (238) (444)
Change in accrued expenses and other liabilities 664 2,073
Net cash from operating activities 5,394 5,103
Cash flows from investing activities    
Loan originations and payments, net 14,862 (18,206)
Change in interest-bearing deposits in other financial institutions 0 20,000
Purchases of securities available for sale (8,867) (21,802)
Proceeds from:    
Maturities and calls of securities 6,457 12,883
Sales of securities available for sale 3,440 9,418
Principal paydowns on securities 1,109 911
Sales of other real estate 320 1,475
Death benefit from bank-owned life insurance 0 518
Additions to premises and equipment (462) (154)
Net cash from investing activities 16,859 5,043
Cash flows from financing activities    
Change in deposits (15,578) (94,678)
Repayments and maturities of other borrowed funds (1,388) (1,329)
Proceeds from other borrowed funds 20,000 0
Cash dividends paid (1,357) (1,012)
Net cash from financing activities 1,677 (97,019)
Net change in cash and cash equivalents 23,930 (86,873)
Cash and cash equivalents at beginning of period 89,819 181,476
Cash and cash equivalents at end of period 113,749 94,603
Supplemental cash flow information    
Interest paid 1,272 1,270
Income taxes paid 0 0
Supplemental noncash disclosures:    
Transfers from loans to other real estate 56 102
Security settlement $ 236 $ 1,012