XML 23 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities      
Net income (loss) $ 8,794,000 $ 38,453,000 $ (2,753,000)
Adjustments to reconcile net income (loss) to net cash from operating activities      
Depreciation and amortization 1,080,000 1,239,000 1,725,000
Negative provision for loan losses (500,000) (800,000) (2,450,000)
Net amortization on securities 865,000 1,246,000 1,297,000
Stock-based compensation expense 524,000 400,000 443,000
Deferred taxes, net 2,376,000 (31,899,000)
Net gain on sales of loans held for sale (1,000) (46,000) (86,000)
Origination of loans held for sale (2,859,000) (5,145,000)
Proceeds from sales of loans held for sale 71,000 2,835,000 5,417,000
Net gain on sales of other real estate owned (72,000) (74,000) (222,000)
Net write-down of other real estate owned 850,000 1,963,000 1,180,000
Net realized (gain) loss on sales and calls of investment securities 6,000 (288,000) (216,000)
Net (gain) loss on sale of premises and equipment (692,000) 3,000 (1,000)
Impairment on transfer of premises to held for sale 392,000
Increase in cash surrender value of life insurance, net of premium expense (417,000) (391,000) (397,000)
Net change in accrued interest receivable and other assets (491,000) 2,079,000 (814,000)
Net change in accrued interest payable and other liabilities (155,000) (9,854,000) 8,133,000
Net cash from operating activities 12,630,000 2,007,000 6,111,000
Cash flows from investing activities      
Purchases of available for sale securities (77,159,000) (21,112,000) (41,827,000)
Proceeds from sales and calls of available for sale securities 6,054,000 41,686,000 8,311,000
Proceeds from maturities and prepayments of available for sale securities 20,116,000 21,838,000 22,876,000
Proceeds from calls of held to maturity securities 47,000
Proceeds from maturities of held to maturity securities 145,000
Proceeds from sale of other real estate owned 876,000 793,000 12,438,000
Proceeds from mandatory redemption of Federal Home Loan Bank stock 90,000
Net changes in loans (52,885,000) (73,202,000) (22,368,000)
Proceeds from sale of premises and equipment 1,590,000 331,000 268,000
Purchases of premises and equipment (1,168,000) (284,000) (464,000)
Purchase of bank owned life insurance (5,000,000)
Net cash from investing activities (102,486,000) (29,758,000) (25,766,000)
Cash flows from financing activities      
Net change in deposits 47,207,000 (2,901,000) (28,072,000)
Payment of Federal Home Loan Bank advances (120,248,000) (55,661,000) (623,000)
Advances from Federal Home Loan Bank 155,000,000 45,000,000 20,000,000
Payment of subordinated capital note (2,250,000) (900,000) (900,000)
Proceeds from senior debt 10,000,000
Proceeds from issuance of common stock, net 14,910,000 2,231,000
Redemption of preferred stock (3,505,000)
Net cash from financing activities 91,114,000 (4,462,000) (7,364,000)
Net change in cash and cash equivalents 1,258,000 (32,213,000) (27,019,000)
Beginning cash and cash equivalents 34,103,000 66,316,000 93,335,000
Ending cash and cash equivalents 35,361,000 34,103,000 66,316,000
Supplemental cash flow information:      
Interest paid 10,607,000 5,665,000 5,253,000
Income taxes paid (refunded) 21,000
Supplemental non-cash disclosure:      
Proceeds from common stock issuance directed by investors to pay junior subordinated debt interest 2,799,000
Transfer from loans to other real estate 730,000 270,000 1,273,000
Transfer from premises and equipment to premises and equipment held for sale 1,050,000
Financed sales of other real estate owned 270,000
Transfer from held to maturity to available for sale securities 41,380,000
AOCI component of transfer from held to maturity to available for sale, net of tax $ 456,000