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, 2015
Jun. 30, 2014
Cash flows from operating activities    
Net income $ 6,055 $ 5,393
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 1,522 1,558
Stock compensation expense 242 147
Tax effect of expired common stock warrants (280) 0
Provision for loan losses (1,500) (2,000)
Origination of loans for sale (51,416) (26,760)
Proceeds from sales of loans originated for sale 50,193 27,992
Net gains on mortgage loans (1,544) (726)
Gain on sales of securities (83) (51)
Write-down of other real estate 624 661
Net gain on sales of other real estate (205) (476)
Change in net deferred tax asset 1,336 2,348
Change in accrued interest receivable and other assets (1,702) 249
Earnings in bank-owned life insurance (333) (328)
Change in accrued expenses and other liabilities (703) 2,841
Net cash from operating activities 2,206 10,848
Cash flows from investing activities    
Loan originations and payments, net (12,264) (2,175)
Change in interest-bearing deposits in other financial institutions 0 (7,500)
Purchases of securities available for sale (19,604) (21,210)
Purchases of securities held to maturity (11,826) 0
Purchase FHLB stock (320) 0
Proceeds from:    
Maturities and calls of securities available for sale 8,944 4,500
Sales of securities available for sale 12,063 5,164
Principal paydowns on securities 1,952 1,675
Sales of other real estate 2,962 7,362
Additions to premises and equipment (529) (910)
Net cash from investing activities (18,622) (13,094)
Cash flows from financing activities    
Change in deposits 21,488 (34,010)
Repayments of other borrowed funds (1,271) (1,217)
Proceeds from other borrowed funds 10,000 0
Cash dividends paid (1,682) (1,352)
Common stock issuance costs 0 (102)
Net cash from financing activities 28,535 (36,681)
Net change in cash and cash equivalents 12,119 (38,927)
Cash and cash equivalents at beginning of period 129,455 156,892
Cash and cash equivalents at end of period 141,574 117,965
Supplemental cash flow information    
Interest paid 2,758 2,873
Income taxes paid 3,675 50
Supplemental noncash disclosures:    
Transfers from loans to other real estate 1,442 2,274
Security settlement $ (330) $ (553)