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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 7,576 $ 12,010
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 669 665
Provision for loan losses 5,300 300
Amortization of deferred loan costs, net 3,725 2,646
Amortization of premiums on investment securities, net 487 362
Gain on sale of loans 0 (333)
Stock based compensation expense, net of forfeitures 903 838
Change in fair value of mortgage servicing rights 395 146
Change in fair value of equity securities (188) (144)
Other items, net (40) 0
Effect of changes in:    
Accrued interest receivable (9) (1,072)
Accrued interest payable (266) 1,169
Prepaid expenses and other assets (1,332) 1,543
Other liabilities and accrued expenses (1,423) (868)
Net cash provided by operating activities 15,797 17,262
Cash flows from investing activities:    
Proceeds from maturities, paydowns and calls of available for sale debt securities 92,128 16,263
Proceeds from maturities and paydowns of held to maturity debt securities 416 399
Purchases of available for sale debt securities (107,942) (44,377)
Net decrease (increase) in loans receivable 46,956 (69,765)
Proceeds from loans held for sale previously classified as portfolio loans 0 53,772
Purchase of loans (20,507) 0
Redemption (purchase) of FHLB stock, net 730 (224)
Purchase of premises and equipment (957) (157)
Net cash provided by (used in) investing activities 10,824 (44,089)
Cash flows from financing activities:    
Net increase in customer deposits 50,659 80,791
Proceeds from long-term FHLB advances 126,500 75,000
Repayment of long-term FHLB advances (150,008) (7)
Net change in short-term FHLB advances (1,500) (108,500)
Shares withheld for taxes on vested restricted stock (563) (404)
Shares repurchased (16,546) (3,881)
Cash paid for dividends (3,240) (3,294)
Net cash provided by financing activities 5,302 39,705
Increase in cash, cash equivalents and restricted cash 31,923 12,878
Cash, cash equivalents and restricted cash, beginning of period 91,325 91,697
Cash, cash equivalents and restricted cash, end of period 123,248 104,575
Supplemental disclosure of cash flow information: Cash paid during the period for:    
Interest 32,476 32,117
Income taxes 410 10
Non-cash investing activity:    
Loans transferred to held for sale $ 0 $ 53,559