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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
OPERATING ACTIVITIES      
Net Income $ 26,991 $ 12,003 $ 7,575
Adjustments to reconcile net income to net cash (used in) provided by operating activities:      
Net amortization and accretion of investments 1,258 1,293 1,166
Net amortization of deferred loan (fees) costs (448) (324) 26
Provision for loan losses 1,789 2,440 2,173
Depreciation and amortization 3,260 2,938 2,691
Stock based compensation 1,759 1,267 813
Loans originated for sale (1,604,825) (1,214,078) (1,367,531)
Proceeds of loans sold 1,611,889 1,237,402 1,428,060
Mortgage fee income (41,045) (32,337) (37,149)
Gain on sale of available-for-sale securities (105) (352) (1,103)
Loss on sale of available-for-sale securities 271 25 372
Loss on sale of equity securities 7 0 0
Holding gain on equity securities (13,767) (590) 0
Gain on sale of portfolio loans (520) (198) (538)
Income on bank owned life insurance, including death benefit proceeds in excess of cash surrender value (1,197) (1,182) (646)
Deferred taxes (3,953) 139 1,349
Amortization of operating lease right-of-use asset 10    
Other, net 10,564 (1,752) (4,137)
Net cash (used in) provided by operating activities (8,062) 6,694 33,121
INVESTING ACTIVITIES      
Purchases of investment securities available-for-sale (70,984) (31,068) (139,127)
Maturities/paydowns of investment securities available-for-sale 33,583 25,748 19,011
Sales of investment securities available-for-sale 31,220 2,743 53,198
Purchases of premises and equipment, including premises and equipment included in assets of branches held for sale (2,042) (2,693) (4,496)
Disposals of premises and equipment 0 0 307
Net increase in loans and loans included in assets of branches held for sale (113,076) (199,282) (53,960)
Purchases of restricted bank stock (49,600) (29,370) (20,712)
Redemptions of restricted bank stock 45,853 25,681 18,980
Proceeds from sale of certificates of deposit with banks 2,229 0 1,978
Purchases of certificates of deposit with banks 0 0 (2,229)
Proceeds from sale of other real estate owned 731 707 0
Purchase of bank owned life insurance (574) (1,149) (9,050)
Proceeds from death benefit of bank owned life insurance policies 688 706 0
Purchase of equity securities (1,400) (2,000) 0
Sales of equity securities 5,968 0 0
Net cash used in business combination (2,651) 0 0
Net cash used in investing activities (120,055) (209,977) (136,100)
FINANCING ACTIVITIES      
Net increase in deposits and deposits in branches held for sale 144,158 149,574 52,563
Net decrease in repurchase agreements (4,753) (7,478) (2,757)
Net change in short-term FHLB borrowings (63,532) 74,999 49,663
Principal payments on FHLB borrowings (1,670) (62,281) (15,097)
Proceeds from new FHLB borrowings 73,200 50,000 26,682
Subordinated debt redemption (12,400) 0 0
Subordinated debt conversion costs 0 (35) 0
Proceeds from stock offering, net of issuance costs 0 0 4,931
Preferred stock redemption (500) 0 (8,500)
Common stock options exercised 2,164 2,129 (10)
Cash dividends paid on common stock (2,290) (1,220) (1,033)
Cash dividends paid on preferred stock (479) (489) (498)
Net cash provided by financing activities 133,898 205,199 105,944
Increase (decrease) in cash and cash equivalents 5,781 1,916 2,965
Cash and cash equivalents at beginning of period 22,221 20,305 17,340
Cash and cash equivalents at end of period 28,002 22,221 20,305
Business combination non-cash disclosures:      
Assets acquired in business combinations (net of cash received) 3,389 0 0
Liabilities assumed in business combination 855 0 0
Supplemental disclosure of cash flow information:      
Loans transferred to other real estate owned 115 1,369 1,164
Cashless stock options exercised 57 161 4
Restricted stock units vested 10 1 0
Common stock converted from subordinated debt 1,000 15,965 0
Initial recognition of operating lease right-of-use assets 12,935    
Initial recognition of operating lease liabilities 15,659    
Cash payments for:      
Interest on deposits, repurchase agreements and borrowings 22,970 17,277 12,399
Income taxes $ 3,962 $ 191 $ 6,026