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, 2017
Sep. 30, 2016
Cash flows from operating activities    
Net income $ 14,098 $ 11,844
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 1,435 2,149
Stock compensation expense 339 408
Provision for loan losses (1,350) (1,100)
Origination of loans for sale (45,018) (76,096)
Proceeds from sales of loans originated for sale 46,273 79,094
Net gains on mortgage loans (1,273) (2,235)
Gain on sales of securities (3) (99)
Write-down of other real estate 85 774
Net gain on sales of other real estate (660) (365)
Net loss on sale of premises and equipment 240 0
Deferred income tax expense (benefit) 2,249 (167)
Change in accrued interest receivable and other assets (794) (1,142)
Earnings in bank-owned life insurance (730) (748)
Change in accrued expenses and other liabilities 4,041 1,341
Net cash from operating activities 18,932 13,658
Cash flows from investing activities    
Loan originations and payments, net 21,537 (37,699)
Change in interest-bearing deposits in other financial institutions 0 20,000
Purchases of securities available for sale (48,409) (72,107)
Purchases of securities held to maturity (16,411) (21,977)
Purchase of bank-owned life insurance 0 (10,000)
Proceeds from:    
Maturities and calls of securities 35,763 59,680
Sales of securities available for sale 5,807 9,648
Principal paydowns on securities 4,585 3,027
Sales of other real estate 6,227 4,155
Sales of premises and equipment 1,742 0
Death benefit from bank-owned life insurance 0 518
Additions to premises and equipment (734) (674)
Net cash from investing activities 10,107 (45,429)
Cash flows from financing activities    
Change in deposits 57,454 (76,885)
Repayments and maturities of other borrowed funds (32,055) (21,996)
Proceeds from other borrowed funds 20,000 10,000
Proceeds from issuance of common stock 34 0
Repurchase of shares for taxes withheld on vested restricted stock (5) (31)
Cash dividends paid (4,397) (3,042)
Net cash from financing activities 41,031 (91,954)
Net change in cash and cash equivalents 70,070 (123,725)
Cash and cash equivalents at beginning of period 89,819 181,476
Cash and cash equivalents at end of period 159,889 57,751
Supplemental cash flow information    
Interest paid 3,827 3,770
Income taxes paid 3,525 4,960
Supplemental noncash disclosures:    
Transfers from loans to other real estate 60 102
Security settlement $ (1,368) $ (1,315)