XML 47 R9.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net (loss) income $ (1,148) $ 2,901
Adjustments to reconcile net income to net cash from operating activities    
Depreciation and amortization on premises and equipment 585 410
Accretion of purchase accounting adjustments (108) (172)
Net amortization of securities 1,335 1,212
Amortization of loan servicing right asset 358 225
Amortization of core deposit intangible 94 145
Amortization of debt issuance costs 44 45
Provision for loan losses 13,022 5,055
Impairment charges on loan servicing right asset 225 0
Deferred income tax benefit 1,914 (2,115)
Excess tax benefit related to stock compensation (210) (113)
Origination of loans held for sale (186,974) (85,008)
Proceeds from sale of loans held for sale 188,952 75,791
Net gain on sale of loans held for sale (1,892) (1,598)
(Gain) Loss on sale of loans held for investment 416 223
Gain on sale of available for sale securities (1,396) (149)
Income from bank owned life insurance (356) (375)
Stock-based compensation 1,512 1,329
Deferred gain on sale of loans (4) (4)
Deferred gain on sale of foreclosed assets (2) (4)
Net change in:    
Accrued interest receivable and other assets (361) (12,900)
Accrued interest payable and other liabilities (4,248) 3,646
Net cash from operating activities 11,758 (11,456)
Securities available for sale :    
Sales and calls 102,426 259,613
Purchases (369) (80,360)
Maturities and prepayments 15,663 62,050
Securities held to maturity :    
Maturities, prepayments and calls 0 2,448
Net change in loans (87,662) (142,678)
Proceeds from sale of loans held for investment 23,975 0
Purchase of restricted equity securities (42) (972)
Purchases of premises and equipment, net (36,914) (721)
Decrease in certificates of deposits at other financial institutions 245 0
Net cash from investing activities 17,322 99,380
Cash flows from financing activities    
(Decrease) increase in deposits (70,113) (115,964)
Proceeds from Federal Home Loan Bank advances 95,000 190,000
Repayment of Federal Home Loan Bank advances (115,000) (142,000)
Proceeds from exercise of common stock options 417 524
Dividends paid on common stock (893) (583)
Net cash from financing activities (90,589) (68,023)
Net change in cash and cash equivalents (61,509) 19,901
Cash and cash equivalents at beginning of period 234,991 280,212
Cash and cash equivalents at end of period 173,482 300,113
Supplemental information:    
Interest paid 15,166 19,762
Income taxes paid 0 1,428
Non-cash supplemental information:    
Establishment and extinguishment of lease liability and right-of use asset (20,243) 43,723
Transfers from securities held to maturity to securities available for sale $ 0 $ 1,206