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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 $ 7,575,000 $ 12,912,000 $ 6,816,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Net amortization and accretion of investments 1,166,000 1,001,000 765,000
Net amortization of deferred loan fees 26,000 55,000 203,000
Provision for loan losses 2,173,000 3,632,000 2,493,000
Depreciation and amortization 2,691,000 3,407,000 2,908,000
Stock based compensation 813,000 568,000 413,000
Loans originated for sale (1,367,531,000) (1,643,450,000) (1,341,965,000)
Proceeds of loans sold 1,428,060,000 1,691,572,000 1,338,341,000
Mortgage fee income (37,149,000) (35,673,000) (29,472,000)
Gain on sale of securities (1,103,000) (1,084,000) (130,000)
Loss on sale of securities 372,000 2,000 0
Gain on sale of portfolio loans (538,000) (1,042,000) (1,413,000)
Gain on sale of subsidiary 0 (6,926,000) 0
Income on bank owned life insurance (646,000) (638,000) (653,000)
Deferred taxes 1,349,000 707,000 (395,000)
Other, net (4,137,000) 221,000 (812,000)
Net cash (used in) / provided by operating activities 33,121,000 25,264,000 (22,901,000)
INVESTING ACTIVITIES      
Purchases of investment securities available-for-sale (139,127,000) (114,612,000) (39,552,000)
Purchases of investment securities held-to-maturity 0 0 (700,000)
Maturities/paydowns of investment securities available-for-sale 19,011,000 17,790,000 24,412,000
Maturities/paydowns of investment securities held-to-maturity 0 400,000 1,580,000
Sales of investment securities available-for-sale 53,198,000 55,191,000 12,912,000
Sales of investment securities held-to-maturity 0 0 421,000
Purchases of premises and equipment (4,496,000) (1,668,000) (2,153,000)
Disposals of premises and equipment 307,000 0 0
Disposals of premises and equipment from sale of subsidiary 0 581,000 0
Net increase in loans (53,960,000) (22,245,000) (215,173,000)
Purchases of restricted bank stock (20,712,000) (23,933,000) (24,344,000)
Redemptions of restricted bank stock 18,980,000 26,684,000 20,972,000
Proceeds from sale of certificates of deposit with banks 1,978,000 6,717,000 248,000
Purchases of certificates of deposit with banks (2,229,000) (8,094,000) (1,491,000)
Proceeds from sale of other real estate owned 0 159,000 1,132,000
Proceeds from sale of subsidiary 0 7,047,000 0
Branch acquisition, net cash acquired 0 0 48,292,000
Purchase of bank owned life insurance (9,050,000) 0 0
Net cash (used in) investing activities (136,100,000) (55,983,000) (173,444,000)
FINANCING ACTIVITIES      
Net increase in deposits 52,563,000 94,703,000 120,390,000
Net (decrease) in repurchase agreements (2,757,000) (2,277,000) (5,236,000)
Net change in short-term FHLB borrowings 49,663,000 (92,184,000) 84,088,000
Principal payments on FHLB borrowings (15,097,000) (93,000) (2,177,000)
Proceeds from new FHLB borrowings 26,682,000 0 0
Proceeds from stock offering, net of issuance costs 4,931,000 20,519,000 0
Preferred stock redemption (8,500,000) 0 0
Common stock options exercised (10,000) 32,000 (448,000)
Cash dividends paid on common stock (1,033,000) (646,000) (641,000)
Cash dividends paid on preferred stock (498,000) (1,128,000) (575,000)
Net cash provided by financing activities 105,944,000 18,926,000 195,401,000
Increase (decrease) in cash and cash equivalents 2,965,000 (11,793,000) (944,000)
Cash and cash equivalents at beginning of period 17,340,000 29,133,000 30,077,000
Cash and cash equivalents at end of period 20,305,000 17,340,000 29,133,000
Supplemental disclosure of cash flow information:      
Loans transferred to other real estate owned 1,164,000 332,000 174,000
Cashless stock options exercised 4,000 16,000 1,180,000
Cash payments for:      
Interest on deposits, repurchase agreements and borrowings 12,399,000 10,890,000 11,124,000
Income taxes $ 6,026,000 $ 6,922,000 $ 2,400,000