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
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities    
Net income $ 9,256 $ 8,155
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 2,167 2,438
Stock compensation expense 364 229
Tax effect of expired common stock warrants (280) 0
Provision for loan losses (1,750) (2,750)
Origination of loans for sale (76,622) (51,504)
Proceeds from sales of loans originated for sale 78,323 53,919
Net gains on mortgage loans (2,249) (1,405)
Gain on sales of securities (119) (51)
Write-down of other real estate 496 1,109
Net gain on sales of other real estate (237) (475)
Change in net deferred tax asset 1,354 2,903
Change in accrued interest receivable and other assets (1,595) 1,205
Earnings in bank-owned life insurance (502) (504)
Change in accrued expenses and other liabilities (827) (159)
Net cash from operating activities 7,779 13,110
Cash flows from investing activities    
Loan originations and payments, net (74,691) (13,395)
Change in interest-bearing deposits in other financial institutions 0 5,000
Purchases of securities available for sale (34,536) (34,990)
Purchases of securities held to maturity (24,592) (25,225)
Purchase FHLB stock (320) 0
Proceeds from:    
Maturities and calls of securities 29,191 19,535
Sales of securities available for sale 19,848 5,164
Principal paydowns on securities 2,888 2,664
Sales of other real estate 3,613 9,964
Additions to premises and equipment (775) (1,525)
Net cash from investing activities (79,374) (32,808)
Cash flows from financing activities    
Change in deposits 60,524 (33,645)
Repayments of other borrowed funds (1,938) (1,884)
Proceeds from other borrowed funds 10,000 0
Proceeds from issuance of common stock 0 4
Cash dividends paid (2,693) (2,028)
Common stock issuance costs 0 (102)
Net cash from financing activities 65,893 (37,655)
Net change in cash and cash equivalents (5,702) (57,353)
Cash and cash equivalents at beginning of period 129,455 156,892
Cash and cash equivalents at end of period 123,753 99,539
Supplemental cash flow information    
Interest paid 4,078 4,254
Income taxes paid 4,300 90
Supplemental noncash disclosures:    
Transfers from loans to other real estate 1,301 2,565
Security settlement $ (520) $ 0