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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash Flows from Operating Activities:    
Net income $ 3,818,000 $ 3,280,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for Loan Losses 400,000 200,000
Change in deferred loan origination costs/fees, net (266,000) (315,000)
Depreciation and amortization 355,000 245,000
Stock-based compensation expense 50,000 47,000
Loss on sale of investments 8,000
Amortization of investment security premiums 180,000 169,000
Gain on equity securities with no readily determinable fair value (209,000)
Gain on sale of OREO and other vehicles (9,000) (34,000)
Gain on sale of loans held for sale (244,000) (666,000)
Loans originated for sale (3,711,000) (12,612,000)
Proceeds from loan sales 6,048,000 11,939,000
Earnings on bank-owned life insurance (82,000) (83,000)
Increase in accrued interest receivable and other assets (627,000) (99,000)
Increase in accrued interest payable and other liabilities 994,000 1,023,000
Net cash provided by operating activities 6,906,000 2,893,000
Cash Flows from Investing Activities:    
Proceeds from principal repayments from available-for-sale government-sponsored mortgage-backed securities 4,211,000 3,159,000
Purchases of available-for-sale securities (3,500,000) (20,788,000)
Proceeds from sale of available-for-sale securities 4,157,000
Net increase in loans (9,801,000) (1,896,000)
Proceeds from Bank owned life insurance 338,000
Proceeds from sale of OREO 412,000
Proceeds from sale of other vehicles 167,000 112,000
Purchase of premises and equipment (202,000) (51,000)
Net cash used in investing activities (9,125,000) (14,557,000)
Cash Flows from Financing Activities:    
Net increase (decrease) in demand, interest bearing and savings deposits 6,707,000 (6,263,000)
Net decrease in time deposits (2,349,000) (3,603,000)
Net decrease in securities sold under agreements to repurchase (4,148,000) (1,399,000)
Proceeds from exercise of stock options 76,000 82,000
Net cash provided by (used in) financing activities 286,000 (11,183,000)
Decrease in cash and cash equivalents (1,933,000) (22,847,000)
Cash and Cash Equivalents at Beginning of Year 46,686,000 87,537,000
Cash and Cash Equivalents at End of Period 44,753,000 64,690,000
Supplemental Disclosure of Cash Flow Information:    
Interest expense 434,000 264,000
Income taxes
Non-Cash Investing Activities:    
Real estate and vehicles acquired through foreclosure $ 189,000 $ 220,000