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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 $ 12,551 $ 8,748 $ 8,051
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 2,100 600 1,800
Stock based compensation 424 378 286
Gain on sale-leaseback of real estate 0 (1,187) 0
Depreciation and amortization of bank premises and equipment 565 600 633
Accretion and amortization of securities, net 2,530 3,587 3,158
Net loss on sale/call of available-for-sale securities 20 14 1
Net gain on sale of loans held-for-sale (337) (512) (842)
Net gain on sale of other real estate owned 0 0 (4)
(Reversal of) provision for deferred income taxes (1,210) 1,919 (437)
Valuation adjustment on mortgage servicing rights 0 (21) 21
Proceeds from sales of loans held-for-sale 21,966 27,596 41,822
Originations of loans held-for-sale (22,884) (24,798) (43,955)
Increase (decrease) in deferred loan origination fees and costs, net 328 57 (97)
(Increase) decrease in interest receivable and other assets (596) (2,147) (793)
Net increase in interest payable and other liabilities 222 1,261 62
Net cash provided by operating activities 15,679 16,095 9,706
Cash flows from investing activities:      
Proceeds from maturities of available-for-sale securities 23,860 21,290 37,464
Proceeds from sales of available-for-sale securities 2,487 462 1,945
Principal repayments on available-for-sale securities 50,186 50,354 36,698
Purchase of available-for-sale securities (114,198) (80,779) (176,041)
Net (increase) decrease in Certificates of Deposit (5,611) 14,229 436
Net increase in stock in Federal Home Loan Bank and other equity securities, at cost (452) (1,158) (475)
Net increase in loans (27,801) (69,999) (65,837)
Purchases of bank premises and equipment, net (963) (1,225) (926)
Proceeds from sale of bank premises and equipment 0 2,868 0
Proceeds from sales of other real estate owned 0 0 221
Net cash used in investing activities (72,492) (63,958) (166,515)
Cash flows from financing activities:      
Net increase in deposits 19,872 41,044 115,582
Cash dividends paid in lieu of fractional shares (10) (10) (5)
Common stock issued 91 78 61
Stock options exercised 0 0 21
Tax benefit for stock options 0 0 (4)
Net cash provided by financing activities 19,953 41,112 115,655
Net decrease in cash and cash equivalents (36,860) (6,751) (41,154)
Cash and cash equivalents at beginning of year 152,892 159,643 200,797
Cash and cash equivalents at end of year $ 116,032 $ 152,892 $ 159,643