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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities      
Net income $ 10,518,000 $ 8,794,000 $ 38,453,000
Adjustments to reconcile net income (loss) to net cash from operating activities      
Depreciation and amortization 1,669,000 1,080,000 1,239,000
Negative provision for loan losses (500,000) (800,000)
Net amortization on securities 700,000 865,000 1,246,000
Stock-based compensation expense 535,000 524,000 400,000
Deferred taxes, net 653,000 2,376,000 (31,899,000)
Net gain on sales of loans held for sale (1,000) (46,000)
Origination of loans held for sale (2,859,000)
Proceeds from sales of loans held for sale 71,000 2,835,000
Net gain on sales of other real estate owned (72,000) (74,000)
Net write-down of other real estate owned 260,000 850,000 1,963,000
Net realized (gain) loss on sales and calls of investment securities 5,000 6,000 (288,000)
Net (gain) loss on sale of premises and equipment (1,000) (692,000) 3,000
Impairment on premises held for sale 150,000 392,000
Increase in cash surrender value of life insurance, net of premium expense (391,000) (417,000) (391,000)
Amortization of operating lease right-of-use assets 185,000
Net change in accrued interest receivable and other assets (302,000) (491,000) 2,079,000
Net change in accrued interest payable and other liabilities (763,000) (155,000) (9,854,000)
Net cash from operating activities 13,218,000 12,630,000 2,007,000
Cash flows from investing activities      
Purchases of available for sale securities (29,169,000) (77,159,000) (21,112,000)
Proceeds from sales and calls of available for sale securities 5,351,000 6,054,000 41,686,000
Proceeds from maturities and prepayments of available for sale securities 19,083,000 20,116,000 21,838,000
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
Proceeds from mandatory redemption of Federal Home Loan Bank stock 996,000 90,000
Net changes in loans (35,538,000) (52,885,000) (73,202,000)
Proceeds from sale of premises and equipment 1,000 1,590,000 331,000
Purchases of premises and equipment (1,321,000) (1,168,000) (284,000)
Net cash paid for acquisition (5,280,000)
Net cash from investing activities (45,877,000) (102,486,000) (29,758,000)
Cash flows from financing activities      
Net change in deposits 975,000 47,207,000 (2,901,000)
Repayment of Federal Home Loan Bank advances (160,160,000) (120,248,000) (55,661,000)
Advances from Federal Home Loan Bank 175,000,000 155,000,000 45,000,000
Repayment of subordinated capital note (2,250,000) (900,000)
Proceeds from issuance of subordinated capital note 17,000,000
Proceeds from senior debt 10,000,000
Repayment of senior debt (5,000,000)
Proceeds from issuance of common stock, net 14,910,000
Common shares withheld for taxes (314,000)
Redemption of preferred stock (3,505,000)
Net cash from financing activities 27,501,000 91,114,000 (4,462,000)
Net change in cash and cash equivalents (5,158,000) 1,258,000 (32,213,000)
Beginning cash and cash equivalents 35,361,000 34,103,000 66,316,000
Ending cash and cash equivalents 30,203,000 35,361,000 34,103,000
Supplemental cash flow information:      
Interest paid 13,763,000 10,607,000 5,665,000
Income taxes paid (refunded) (346,000)
Supplemental non-cash disclosure:      
Transfer from loans to other real estate 730,000 270,000
Transfer from premises and equipment to premises and equipment held for sale 1,050,000
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
Initial recognition of right-of-use lease assets $ 507,000