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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
OPERATING ACTIVITIES    
Net Income $ 6,152 $ 10,605
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Net amortization and accretion of investments 801 689
Net amortization of deferred loan (fees) costs 95 33
Provision for loan losses 1,137 2,975
Depreciation and amortization 1,980 2,547
Stock based compensation 506 415
Loans originated for sale (1,050,759) (1,205,986)
Proceeds of loans sold 1,100,480 1,212,350
Mortgage fee income (28,604) (26,850)
Gain on sale of securities (827) (1,084)
Loss on sale of securities 372 2
Gain on sale of portfolio loans (477) (838)
Gain on sale of subsidiary 0 (6,926)
Income on bank owned life insurance (453) (477)
Deferred taxes (470) 276
Other, net (5,385) 3,741
Net cash provided by (used in) operating activities 24,548 (8,528)
INVESTING ACTIVITIES    
Purchases of investment securities available-for-sale (86,692) (95,497)
Maturities/paydowns of investment securities available-for-sale 11,961 13,478
Maturities/paydowns of investment securities held-to-maturity 0 400
Sales of investment securities available-for-sale 52,108 55,191
Purchases of premises and equipment (4,008) (1,435)
Disposals of premises and equipment from sale of subsidiary 0 581
Net increase in loans (42,062) (44,929)
Purchases of restricted bank stock (15,450) (18,064)
Redemptions of restricted bank stock 16,005 19,489
Proceeds from sale of certificates of deposit with banks 1,978 6,472
Purchases of certificates of deposit with banks (2,229) (496)
Proceeds from sale of other real estate owned 0 83
Purchase of bank owned life insurance (50) 0
Proceeds from sale of subsidiary 0 7,047
Net cash used in investing activities (68,439) (57,680)
FINANCING ACTIVITIES    
Net increase in deposits 58,182 114,476
Net decrease in repurchase agreements (115) (245)
Net change in short-term FHLB borrowings (32,605) (47,016)
Principal payments on FHLB borrowings (595) (70)
Proceeds from new FHLB borrowings 26,682 0
Proceeds from stock offering, net of issuance costs 4,931 0
Preferred stock redemption (8,500) 0
Common stock options exercised (10) 32
Cash dividends paid on common stock (773) (484)
Cash dividends paid on preferred stock (374) (814)
Net cash provided by financing activities 46,823 65,879
Increase (decrease) in cash and cash equivalents 2,932 (329)
Cash and cash equivalents at beginning of period 17,340 29,133
Cash and cash equivalents at end of period 20,272 28,804
Supplemental disclosure of cash flow information:    
Loans transferred to other real estate owned 1,017 127
Cashless stock options exercised 4 16
Cash payments for:    
Interest on deposits, repurchase agreements and borrowings 9,100 8,084
Income taxes $ 6,025 $ 4,382