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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
OPERATING ACTIVITIES    
Net Income $ 2,594 $ 1,574
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization and accretion of investments 361 319
Net amortization of deferred loan costs 16 90
Provision for loan losses 474 518
Depreciation and amortization 741 617
Stock based compensation 244 148
Loans originated for sale (238,935) (313,263)
Proceeds of loans sold 261,012 341,150
Mortgage fee income (6,563) (9,634)
Gain on sale of securities (326) (549)
Loss on sale of securities 0 366
Gain on sale of portfolio loans (212) (9)
Income on bank owned life insurance (218) (147)
Deferred taxes (51) (25)
Other, net (3,924) (1,414)
Net cash provided by operating activities 15,213 19,741
INVESTING ACTIVITIES    
Purchases of investment securities available-for-sale (14,859) (37,919)
Maturities/paydowns of investment securities available-for-sale 7,364 4,717
Sales of investment securities available-for-sale 680 22,945
Purchases of premises and equipment (506) (1,588)
Net increase in loans (51,321) (24,245)
Purchases of restricted bank stock (5,901) (4,276)
Redemptions of restricted bank stock 3,797 4,818
Proceeds from sale of other real estate owned 181 0
Purchase of bank owned life insurance 0 (50)
Net cash used in investing activities (60,565) (35,598)
FINANCING ACTIVITIES    
Net (decrease) increase in deposits (5,673) 29,449
Net decrease in repurchase agreements (1,727) (3,465)
Net change in short-term FHLB borrowings 67,421 (14,769)
Principal payments on FHLB borrowings (12,220) (24)
Proceeds from new FHLB borrowings 0 14,483
Preferred stock redemption 0 (8,500)
Common stock options exercised 1,260 0
Cash dividends paid on common stock (263) (250)
Cash dividends paid on preferred stock (121) (129)
Net cash provided by financing activities 48,677 16,795
Increase in cash and cash equivalents 3,325 938
Cash and cash equivalents at beginning of period 20,305 17,340
Cash and cash equivalents at end of period 23,630 18,278
Supplemental disclosure of cash flow information:    
Loans transferred to other real estate owned 720 0
Cash payments for:    
Interest on deposits, repurchase agreements and borrowings $ 3,635 $ 2,943