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, 2018
Mar. 31, 2017
Cash flows from operating activities    
Net income $ 5,755 $ 4,460
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 534 537
Stock compensation expense 111 114
Provision for loan losses (100) (500)
Origination of loans for sale (5,140) (16,960)
Proceeds from sales of loans originated for sale 6,489 16,802
Net gains on mortgage loans (141) (428)
Gain on sales of securities 0 (3)
Write-down of other real estate 280 64
Net gain (loss) on sales of other real estate 126 (149)
Deferred income tax expense 285 162
Change in accrued interest receivable and other assets (1,120) 869
Earnings in bank-owned life insurance (238) (238)
Change in accrued expenses and other liabilities 747 664
Net cash from operating activities 7,588 5,394
Cash flows from investing activities    
Loan originations and payments, net (5,354) 14,862
Purchases of securities available for sale (8,502) (8,867)
Purchases of securities held to maturity (5,305) 0
Proceeds from:    
Maturities and calls of securities 10,158 6,457
Sales of securities available for sale 0 3,440
Principal paydowns on securities 1,760 1,109
Sales of other real estate 431 320
Additions to premises and equipment (142) (462)
Net cash from investing activities (6,954) 16,859
Cash flows from financing activities    
Change in deposits (18,138) (15,578)
Repayments and maturities of other borrowed funds (11,451) (1,388)
Proceeds from other borrowed funds 0 20,000
Proceeds from exercise of stock options 386 0
Repurchase of shares for taxes withheld on vested restricted stock (5) 0
Cash dividends paid (2,041) (1,357)
Net cash from financing activities (31,249) 1,677
Net change in cash and cash equivalents (30,615) 23,930
Cash and cash equivalents at beginning of period 161,467 89,819
Cash and cash equivalents at end of period 130,852 113,749
Supplemental cash flow information    
Interest paid 1,828 1,272
Income taxes paid 0 0
Supplemental noncash disclosures:    
Transfers from loans to other real estate 293 56
Security settlement $ 0 $ 236