Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES      
Net Income $ 9,116 $ 9,260 $ 6,045
Adjustments to Reconcile Net Income to Cash Provided by Operating Activities:      
Provision for Loan Losses 1,594 1,905 3,472
Depreciation 6,586 6,490 6,396
Amortization of Premiums, Discounts, and Fees, net $ 5,182 4,717 4,756
Amortization of Intangible Assets 32 210
Gain on Securities Transactions $ (1) (3)
Impairment Loss on Security $ 90 600
Net (Decrease) Increase in Loans Held-for-Sale (944) $ 377 3,124
Stock Compensation 1,109 1,349 1,296
Deferred Income Taxes 3,847 4,779 1,805
Loss on Sales and Write-Downs of Other Real Estate Owned 2,943 4,462 $ 4,573
Loss on Sale or Disposal of Premises and Equipment 44 113
Net Decrease (Increase) in Other Assets 684 (12,353) $ 5,087
Net Increase (Decrease) in Other Liabilities 3,510 4,021 (2,510)
Net Cash Provided By Operating Activities 33,761 25,151 34,851
Securities Held to Maturity:      
Purchases (66,021) (56,249) (95,946)
Payments, Maturities, and Calls 40,482 39,335 9,768
Securities Available for Sale:      
Purchases $ (190,756) $ (210,858) (149,111)
Sales 7,506
Payments, Maturities, and Calls $ 76,452 $ 117,281 118,142
Net (Increase) Decrease in Loans $ (71,432) (64,975) $ 84,969
Purchase of Bank Owned Life Insurance (13,085)
Proceeds From Sales of Other Real Estate Owned $ 18,925 23,201 $ 25,270
Purchases of Premises and Equipment, net (4,703) (5,117) (2,689)
Net Cash Used In by Investing Activities (197,053) (170,467) (2,091)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net Increase (Decrease) in Deposits 156,055 10,546 (8,748)
Net Increase (Decrease) in Short-Term Borrowings $ 11,536 $ (3,955) (542)
Proceeds from Other Long-Term Borrowings 1,303
Repayment of Other Long-Term Borrowings $ (2,735) $ (4,888) $ (5,691)
Dividends Paid (2,241) (1,568)
Payments to Repurchase Common Stock (5,981) (269)
Issuance of Common Stock Under Compensation Plans 507 578 $ 1,114
Net Cash Provided By (Used In) Financing Activities 157,141 444 (12,564)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (6,151) (144,872) 20,196
Cash and Cash Equivalents at Beginning of Year 385,056 529,928 509,732
Cash and Cash Equivalents at End of Year 378,905 385,056 529,928
Supplemental Cash Flow Disclosures:      
Interest Paid 3,314 3,562 6,012
Income Taxes Paid (Refunded) $ 1,442 $ 2,655 (3,202)
Noncash Investing and Financing Activities:      
Transfer of Securities Available for Sale to Held to Maturity 62,488
Loans Transferred to Other Real Estate Owned $ 5,752 $ 15,271 24,488
Transfer of Current Portion of Long-Term Borrowings $ 97 $ 2,059 $ 4,428