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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
OPERATING ACTIVITIES:      
Net income $ 21,311,000 $ 17,459,000 $ 10,574,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 4,498,000 2,516,000 1,797,000
Provision for real estate losses 137,000 311,000 47,000
Deferred tax provision 6,001,000 7,116,000 4,371,000
Deferred tax valuation allowance (897,000) (120,000)
Net amortization of premiums on investment securities 1,889,000 1,309,000 626,000
Federal Home Loan Bank stock dividends (196,000) (39,000) (8,000)
Loss (gain) on dispositions of fixed assets, net 8,000 (1,019,000) (85,000)
Impairment on office properties held for sale 634,000 1,076,000
Gain on sales of real estate owned and repossessed assets, net (291,000) (943,000) (587,000)
Gain on sales of investment securities, net (48,000) (19,000) (20,000)
Originations of loans held for sale (119,158,000) (163,727,000) (109,239,000)
Proceeds from sales of loans originated for sale 128,070,000 166,895,000 113,454,000
Gain on sales of loans originated to sell (3,773,000) (4,796,000) (3,084,000)
Depreciation 3,365,000 3,706,000 3,293,000
Amortization of deferred loan costs, net 662,000 1,138,000 254,000
Accretion of purchased loans, net (4,419,000) (4,972,000) (4,764,000)
Amortization of other intangible assets 1,021,000 1,021,000 724,000
Stock compensation 959,000 1,239,000 724,000
Earnings on life insurance policies (2,031,000) (1,665,000) (1,498,000)
Changes in operating assets and liabilities:      
Accrued interest receivable (671,000) (849,000) (188,000)
Prepaid expenses and other assets (1,113,000) 218,000 1,276,000
Other liabilities 3,556,000 (371,000) (3,621,000)
Net cash provided by operating activities 40,411,000 24,707,000 13,926,000
INVESTING ACTIVITIES:      
Cash paid for acquisition, net of cash received 0 (13,931,000)
Net decrease in federal funds sold 18,000 33,000
Purchases of interest bearing time deposits in banks (1,485,000) (2,590,000)
Redemptions of interest bearing time deposits in banks 1,981,000 8,949,000 1,491,000
Purchases of held to maturity (“HTM”) securities (16,093,000) (26,992,000)
Proceeds from maturities/calls/paydowns of HTM securities 30,000
Purchases of available for sale (“AFS”) securities (41,575,000) (99,001,000) (55,951,000)
Proceeds from sales of AFS securities 2,069,000 30,386,000 21,099,000
Proceeds from maturities/calls/paydowns of AFS securities 32,223,000 74,497,000 50,724,000
Purchases in other investments (13,122,000) (6,152,000) (5,205,000)
Redemptions of other investments 1,995,000 3,515,000
Loan disbursements, net of repayments (105,774,000) (78,047,000) 934,000
Loan participations purchased (12,640,000) (29,094,000) (40,937,000)
Loan participations sold 2,245,000 9,721,000 640,000
Proceeds from sales of real estate owned and repossessed assets 2,640,000 4,340,000 4,370,000
Proceeds from sales of office properties held for sale 3,750,000 2,530,000
Proceeds from sales of office properties and equipment 3,000 6,000 951,000
Purchases of office properties and equipment (1,328,000) (2,069,000) (4,652,000)
Purchases of bank owned life insurance (3,000,000) (772,000)
Proceeds from settlement of bank owned life insurance 1,098,000
Net cash used in investing activities (145,978,000) (114,503,000) (37,691,000)
FINANCING ACTIVITIES:      
Net increase (decrease) in deposits (144,636,000) 36,397,000 (26,763,000)
Proceeds from long term advances from Federal Home Loan Bank 85,223,000 40,245,000 20,551,000
Repayments of long term advances from Federal Home Loan Bank (85,554,000) (25,571,000) (14,328,000)
Net change in short term advances from Federal Home Loan Bank 245,000,000 61,800,000 4,200,000
Proceeds from other borrowings 2,400,000 4,800,000 1,850,000
Repayments of other borrowings (12,262,000) (1,650,000) (1,151,000)
Net increase (decrease) in short term borrowings (5,669,000) 7,039,000 (21,145,000)
Proceeds from exercise of stock options 643,000 141,000 37,000
Shares withheld for payment of employee payroll taxes (275,000) (255,000) (185,000)
Repurchase of common stock (3,672,000) (256,000)
Dividends distributed (4,524,000) (2,820,000)
Net cash provided by (used in) financing activities 80,346,000 116,454,000 (37,190,000)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (25,221,000) 26,658,000 (60,955,000)
CASH AND CASH EQUIVALENTS:      
Beginning of period 78,789,000 52,131,000 113,086,000
End of period 53,568,000 78,789,000 52,131,000
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Cash paid for interest 10,611,000 7,896,000 6,438,000
Cash received for income tax refunds 2,135,000
Cash paid for income tax 3,136,000 892,000
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES:      
Real estate and other assets acquired in settlement of loans 2,012,000 2,240,000 2,384,000
Sales of real estate owned financed by the Bank 24,000 146,000 282,000
Common stock issued for acquisitions 42,000,000
Office properties transferred to real estate owned 207,000 464,000
Office properties transferred to office properties held for sale $ 1,428,000 $ 7,925,000