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, 2018
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES      
Net Income $ 26,224 $ 10,863 $ 11,746
Adjustments to Reconcile Net Income to Cash Provided by Operating Activities:      
Provision for Loan Losses 2,921 2,215 819
Depreciation 6,453 6,558 6,975
Amortization of Premiums, Discounts, and Fees, net 6,698 6,626 6,219
Gain on Retirement of Trust Preferred Securities 0 0 (2,487)
Originations of Loans Held for Sale (177,742) (191,978) (177,022)
Proceeds From Sales of Loans Held for Sale 180,425 192,915 171,328
Gain Loss On Sale Of Mortgage Loans (4,735) (5,754) (5,192)
Stock Compensation 1,421 1,502 1,260
Excess Tax Benefit From Share Based Compensation Operating Activities (41) (223) 0
Deferred Income Taxes 4,837 7,576 3,457
Loss on Sales and Write-Downs of Other Real Estate Owned (935) 783 3,225
Impairment Loss on Premises (1,213) 0 0
Loss on Sale or Disposal of Premises and Equipment 87 276 131
Net Decrease (Increase) in Other Assets 7,168 2,063 (18,374)
Net Increase (Decrease) in Other Liabilities (16,942) (5,531) 8,904
Net Cash Provided By Operating Activities 34,626 38,777 22,621
Securities Held to Maturity:      
Purchases (102,428) (98,861) (50,001)
Payments, Maturities, and Calls 100,131 58,449 59,460
Securities Available for Sale:      
Purchases (132,895) (163,469) (192,005)
Payments, Maturities, and Calls 161,332 198,027 114,189
Payments To Acquire Loans Held For Investment (26,070) (44,083) 0
Net (Increase) Decrease in Loans (98,068) (51,625) (73,997)
Proceeds From Insurance Claims on Premises 663 0 0
Proceeds From Sales of Other Real Estate Owned 4,774 8,031 9,443
Purchases of Premises and Equipment, net (1,458) (3,997) (4,450)
Net Cash Used In by Investing Activities (94,019) (97,528) (137,361)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net Increase (Decrease) in Deposits 61,979 57,591 109,437
Net Increase (Decrease) in Short-Term Borrowings 2,551 (2,489) (52,666)
Repayments of Subordinated Notes 0 0 (7,500)
Repayment of Other Long-Term Borrowings (1,889) (3,694) (9,027)
Dividends Paid (5,457) (4,071) (2,890)
Payments to Repurchase Common Stock (8,030) 0 (6,312)
Issuance of Common Stock Under Compensation Plans 797 809 840
Net Cash Provided By (Used In) Financing Activities 49,951 48,146 31,882
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (9,442) (10,605) (82,858)
Cash and Cash Equivalents at Beginning of Year 285,442 296,047 378,905
Cash and Cash Equivalents at End of Year 276,000 285,442 296,047
Supplemental Cash Flow Disclosures:      
Interest Paid 6,879 3,952 3,195
Income Taxes Paid (Refunded) 157 6,514 (330)
Noncash Investing and Financing Activities:      
Loans Transferred to Other Real Estate Owned $ 2,140 $ 2,384 $ 4,016