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, 2016
Mar. 31, 2015
Cash flows from operating activities    
Net income $ 3,495 $ 2,840
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 659 684
Stock compensation expense 147 121
Provision for loan losses (100) (1,000)
Origination of loans for sale (18,883) (23,438)
Proceeds from sales of loans originated for sale 19,887 24,140
Net gains on mortgage loans (487) (723)
Gain on sales of securities (89) (83)
Write-down of other real estate 129 518
Net (gain) loss on sales of other real estate (92) (67)
Change in net deferred tax asset (68) 592
Change in accrued interest receivable and other assets (1,124) (1,826)
Earnings in bank-owned life insurance (444) (162)
Change in accrued expenses and other liabilities 2,073 (869)
Net cash from operating activities 5,103 727
Cash flows from investing activities    
Loan originations and payments, net (18,206) (16,809)
Change in interest-bearing deposits in other financial institutions 20,000 0
Purchases of securities available for sale (21,802) (10,590)
Purchases of securities held to maturity 0 (10,326)
Proceeds from:    
Maturities and calls of securities 12,883 5,195
Sales of securities available for sale 9,418 12,063
Principal paydowns on securities 911 919
Sales of other real estate 1,475 1,452
Death benefit from bank-owned life insurance 518 0
Additions to premises and equipment (154) (250)
Net cash from investing activities 5,043 (18,346)
Cash flows from financing activities    
Change in deposits (94,678) 14,191
Repayments of other borrowed funds (1,329) (1,271)
Proceeds from other borrowed funds 0 10,000
Cash dividends paid (1,012) (677)
Net cash from financing activities (97,019) 22,243
Net change in cash and cash equivalents (86,873) 4,624
Cash and cash equivalents at beginning of period 181,476 129,455
Cash and cash equivalents at end of period 94,603 134,079
Supplemental cash flow information    
Interest paid 1,270 1,347
Income taxes paid 0 1,575
Supplemental noncash disclosures:    
Transfers from loans to other real estate 102 699
Security settlement $ 1,012 $ 1,250