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, 2016
Jun. 30, 2015
Cash flows from operating activities    
Net income $ 7,240 $ 6,055
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 1,403 1,522
Stock compensation expense 278 242
Tax effect of expired common stock warrants 0 (280)
Provision for loan losses (850) (1,500)
Origination of loans for sale (37,891) (51,416)
Proceeds from sales of loans originated for sale 40,589 50,193
Net gains on mortgage loans (1,060) (1,544)
Gain on sales of securities (99) (83)
Write-down of other real estate 555 624
Net (gain) loss on sales of other real estate (260) (205)
Change in net deferred tax asset (147) 1,336
Change in accrued interest receivable and other assets (1,405) (1,702)
Earnings in bank-owned life insurance (602) (333)
Change in accrued expenses and other liabilities 2,182 (703)
Net cash from operating activities 9,933 2,206
Cash flows from investing activities    
Loan originations and payments, net (13,286) (12,264)
Change in interest-bearing deposits in other financial institutions 20,000 0
Purchases of securities available for sale (43,570) (19,604)
Purchases of securities held to maturity (1,144) (11,826)
Purchase FHLB stock 0 (320)
Proceeds from:    
Maturities and calls of securities 30,480 8,944
Sales of securities available for sale 9,648 12,063
Principal paydowns on securities 1,873 1,952
Sales of other real estate 3,313 2,962
Death benefit from bank-owned life insurance 518 0
Additions to premises and equipment (501) (529)
Net cash from investing activities 7,331 (18,622)
Cash flows from financing activities    
Change in deposits (80,434) 21,488
Repayments of other borrowed funds (1,329) (1,271)
Proceeds from other borrowed funds 10,000 10,000
Cash dividends paid (2,025) (1,682)
Repurchase of shares for taxes withheld on vested restricted stock (19) 0
Net cash from financing activities (73,807) 28,535
Net change in cash and cash equivalents (56,543) 12,119
Cash and cash equivalents at beginning of period 181,476 129,455
Cash and cash equivalents at end of period 124,933 141,574
Supplemental cash flow information    
Interest paid 2,536 2,758
Income taxes paid 3,200 3,675
Supplemental noncash disclosures:    
Transfers from loans to other real estate 102 1,442
Security settlement $ 0 $ (330)