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Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating Activities:      
Net income $ 14,990 $ 18,334 $ 17,867
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:      
Loss (gain) on sale of securities, net 11 (271) (461)
Loss (gain) on sale of premises and equipment 352 37 (1,109)
Gain on purchase of mortgage affiliate 0 0 (3,001)
Depreciation and amortization of premises and equipment 2,439 2,264 1,865
Amortization of software 157 179 180
Intangible asset amortization 135 258 289
Amortization of investment security premium, net of discount accretion 27 (202) (187)
Deferred tax (benefit) liability (325) 148 (1,311)
Stock-based compensation 778 608 360
Excess tax expense (benefit) from share-based payment arrangements 63 (56) (96)
Deferral of loan fees and costs, net (178) 61 530
Provision (benefit) for loan losses 2,298 1,754 (636)
Reserve (benefit) for purchased receivables (10) (138) 704
Purchases of loans held for sale 0 0 (132,013)
Gain on sale of loans (25,413) (26,398) (2,232)
Proceeds from the sale of loans held for sale 768,169 773,526 205,636
Origination of loans held for sale (735,799) (753,815) (62,652)
Gain on sale of other real estate owned (295) (315) (631)
Impairment on other real estate owned 187 361 56
Equity in undistributed earnings from mortgage affiliate 0 0 (172)
Net changes in assets and liabilities:      
(Increase) in accrued interest receivable (114) (247) (644)
Decrease in other assets 7,512 5,472 6,406
Decrease in other liabilities (14,861) (11,041) (8,270)
Net Cash Provided by Operating Activities 20,123 10,519 20,478
Investing Activities:      
Purchases of investment securities available for sale (145,707) (210,308) (264,943)
Purchases of FHLB stock (751) 0 0
Proceeds from sales/calls/maturities of securities available for sale 105,621 200,343 237,425
Proceeds from calls/maturities of securities held to maturity 0 1,285 0
Purchases of domestic certificates of deposit 0 0 (3,500)
Proceeds from maturities of domestic certificates of deposit 0 3,500 13,500
Proceeds from redemption of FHLB stock 602 1,588 165
(Increase) decrease in purchased receivables, net (7,155) 2,066 67
Decrease (increase) in loans, net 1,160 (57,927) (27,686)
Proceeds from sale of other real estate owned 934 2,733 2,402
Net cash received from Alaska Pacific acquisition 0 0 6,367
Cash paid for Residential Mortgage acquisition, net of cash received 0 0 (7,412)
Investment in other real estate owned (311) 0 0
Elliott Cove divestiture, net of cash received 0 219 0
Decrease in loan to Elliott Cove, net 0 0 239
Sales of premises and equipment 1,401 188 1,550
Purchases of premises and equipment (3,293) (7,026) (6,832)
Net Cash Used by Investing Activities (47,499) (63,339) (48,658)
Financing Activities:      
Increase in deposits 26,861 61,045 24,585
Increase (decrease) in securities sold under repurchase agreements (3,813) 11,577 (1,300)
Proceeds from borrowings 2,265 0 0
Repayments of borrowings (47) (24,184) (7,032)
Distributions to noncontrolling interest (640) (490) (508)
Proceeds from the issuance of common stock 0 50 54
Excess tax (expense) benefits from share-based payment arrangements 0 56 96
Cash dividends paid (5,372) (5,117) (4,750)
Net Cash Provided by Financing Activities 19,254 42,937 11,145
Net Decrease in Cash and Cash Equivalents (8,122) (9,883) (17,035)
Cash and Cash Equivalents at Beginning of Year 58,673 68,556 85,591
Cash and Cash Equivalents at End of Year 50,551 58,673 68,556
Supplemental Information:      
Income taxes paid 4,414 5,674 5,927
Interest paid 2,553 2,833 2,087
Noncash commitments to invest in Low Income Housing Tax Credit Partnerships 6,809 55 8,518
Transfer of loans to other real estate owned 4,036 1,259 1,137
Cash dividends declared but not paid 48 46 49
Assets acquired 0 0 235,069
Liabilities assumed $ 0 $ 0 $ 197,338