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
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities    
Net income $ 9,223 $ 7,240
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 973 1,403
Stock compensation expense 228 278
Provision for loan losses (1,000) (850)
Origination of loans for sale (33,707) (37,891)
Proceeds from sales of loans originated for sale 33,608 40,589
Net gains on mortgage loans (904) (1,060)
Gain on sales of securities (3) (99)
Write-down of other real estate 85 555
Net gain on sales of other real estate (470) (260)
Net loss on sale of premises and equipment 69 0
Deferred income tax expense 2,353 (147)
Change in accrued interest receivable and other assets 63 (1,405)
Earnings in bank-owned life insurance (481) (602)
Change in accrued expenses and other liabilities 236 2,182
Net cash from operating activities 10,273 9,933
Cash flows from investing activities    
Loan originations and payments, net 30,005 (13,286)
Change in interest-bearing deposits in other financial institutions 0 20,000
Purchases of securities available for sale (14,683) (43,570)
Purchases of securities held to maturity (3,000) (1,144)
Proceeds from:    
Maturities and calls of securities 10,872 30,480
Sales of securities available for sale 5,807 9,648
Principal paydowns on securities 3,381 1,873
Sales of other real estate 5,601 3,313
Sales of premises and equipment 590 0
Death benefit from bank-owned life insurance 0 518
Additions to premises and equipment (568) (501)
Net cash from investing activities 38,005 7,331
Cash flows from financing activities    
Change in deposits 11,266 (80,434)
Repayments and maturities of other borrowed funds (21,388) (1,329)
Proceeds from other borrowed funds 20,000 10,000
Cash dividends paid (2,706) (2,025)
Repurchase of shares for taxes withheld on vested restricted stock 0 (19)
Net cash from financing activities 7,172 (73,807)
Net change in cash and cash equivalents 55,450 (56,543)
Cash and cash equivalents at beginning of period 89,819 181,476
Cash and cash equivalents at end of period 145,269 124,933
Supplemental cash flow information    
Interest paid 2,600 2,536
Income taxes paid 825 3,200
Supplemental noncash disclosures:    
Transfers from loans to other real estate 60 102
Security settlement $ 0 $ 0