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, 2016
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES      
Net Income $ 11,746 $ 9,116 $ 9,260
Adjustments to Reconcile Net Income to Cash Provided by Operating Activities:      
Provision for Loan Losses 819 1,594 1,905
Depreciation 6,975 6,586 6,490
Amortization of Premiums, Discounts, and Fees, net 6,219 5,182 4,717
Amortization of Intangible Assets 0 0 32
Gain on Securites Transactions 0 0 (1)
Impairment Loss on Security 0 90 0
Gain on Retirement of Trust Preferred Securities (2,487) 0 0
Net (Decrease) Increase in Loans Held-for-Sale 746 (944) 377
Stock Compensation 1,260 1,109 1,349
Deferred Income Taxes 3,457 3,847 4,779
Loss on Sales and Write-Downs of Other Real Estate Owned 3,225 2,943 4,462
Loss on Sale or Disposal of Premises and Equipment 131 44 113
Net Decrease (Increase) in Other Assets (18,374) 684 (12,353)
Net Increase (Decrease) in Other Liabilities 8,904 3,510 4,021
Net Cash Provided By Operating Activities 22,621 33,761 25,151
Securities Held to Maturity:      
Purchases (50,001) (66,021) (56,249)
Payments, Maturities, and Calls 59,460 40,482 39,335
Securities Available for Sale:      
Purchases (192,005) (190,756) (210,858)
Sales 114,189 76,452 117,281
Net (Increase) Decrease in Loans (73,997) (71,432) (64,975)
Purchase of Bank Owned Life Insurance 0 0 (13,085)
Proceeds From Sales of Other Real Estate Owned 9,443 18,925 23,201
Purchases of Premises and Equipment, net (4,450) (4,703) (5,117)
Net Cash Used In by Investing Activities (137,361) (197,053) (170,467)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net Increase (Decrease) in Deposits 109,437 156,055 10,546
Net Increase (Decrease) in Short-Term Borrowings (52,666) 11,536 (3,955)
Repayment of Other Long-Term Borrowings (9,027) (2,735) (4,888)
Repayments of Subordinated Notes (7,500) 0 0
Dividends Paid (2,890) (2,241) (1,568)
Payments to Repurchase Common Stock (6,312) (5,981) (269)
Issuance of Common Stock Under Compensation Plans 840 507 578
Net Cash Provided By (Used In) Financing Activities 31,882 157,141 444
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (82,858) (6,151) (144,872)
Cash and Cash Equivalents at Beginning of Year 378,905 385,056 529,928
Cash and Cash Equivalents at End of Year 296,047 378,905 385,056
Supplemental Cash Flow Disclosures:      
Interest Paid 3,195 3,314 3,562
Income Taxes Paid (Refunded) (330) 1,442 2,655
Noncash Investing and Financing Activities:      
Loans Transferred to Other Real Estate Owned 4,016 5,752 15,271
Transfer of Current Portion of Long-Term Borrowings $ 4,357 $ 97 $ 2,059