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, 2017
Dec. 31, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES      
Net Income $ 10,863 $ 11,746 $ 9,116
Adjustments to Reconcile Net Income to Cash Provided by Operating Activities:      
Provision for Loan Losses 2,215 819 1,594
Depreciation 6,558 6,975 6,586
Amortization of Premiums, Discounts, and Fees, net 6,626 6,219 5,182
Impairment Loss on Security 0 0 90
Gain on Retirement of Trust Preferred Securities 0 (2,487) 0
Net (Decrease) Increase in Loans Held-for-Sale 6,069 746 (944)
Stock Compensation 1,502 1,260 1,109
Excess Tax Benefit From Share Based Compensation Operating Activities (223) 0 0
Deferred Income Taxes 7,576 3,457 3,847
Loss on Sales and Write-Downs of Other Real Estate Owned 783 3,225 2,943
Loss on Sale or Disposal of Premises and Equipment 276 131 44
Net Decrease (Increase) in Other Assets 2,063 (18,374) 684
Net Increase (Decrease) in Other Liabilities (5,531) 8,904 3,510
Net Cash Provided By Operating Activities 38,777 22,621 33,761
Securities Held to Maturity:      
Purchases (98,861) (50,001) (66,021)
Payments, Maturities, and Calls 58,449 59,460 40,482
Securities Available for Sale:      
Purchases (163,469) (192,005) (190,756)
Sales 198,027 114,189 76,452
Payments To Acquire Loans Held For nvestment (44,083) 0 0
Net (Increase) Decrease in Loans (51,625) (73,997) (71,432)
Proceeds From Sales of Other Real Estate Owned 8,031 9,443 18,925
Purchases of Premises and Equipment, net (3,997) (4,450) (4,703)
Net Cash Used In by Investing Activities (97,528) (137,361) (197,053)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net Increase (Decrease) in Deposits 57,591 109,437 156,055
Net Increase (Decrease) in Short-Term Borrowings (2,489) (52,666) 11,536
Repayments of Subordinated Notes 0 (7,500) 0
Repayment of Other Long-Term Borrowings (3,694) (9,027) (2,735)
Dividends Paid (4,071) (2,890) (2,241)
Payments to Repurchase Common Stock 0 (6,312) (5,981)
Issuance of Common Stock Under Compensation Plans 809 840 507
Net Cash Provided By (Used In) Financing Activities 48,146 31,882 157,141
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (10,605) (82,858) (6,151)
Cash and Cash Equivalents at Beginning of Year 296,047 378,905 385,056
Cash and Cash Equivalents at End of Year 285,442 296,047 378,905
Supplemental Cash Flow Disclosures:      
Interest Paid 3,952 3,195 3,314
Income Taxes Paid (Refunded) 6,514 (330) 1,442
Noncash Investing and Financing Activities:      
Loans Transferred to Other Real Estate Owned $ 2,384 $ 4,016 $ 5,752