XML 35 R7.htm IDEA: XBRL DOCUMENT v3.19.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
Cash flows from operating activities:          
Net income $ 3,817 $ 1,682 $ 10,270 $ 5,861  
Adjustments to reconcile net income to net cash used in operating activities:          
Provision for loan losses 425 450 1,250 975 $ 1,250
Depreciation     368 304  
Stock compensation expense     809 1,304  
Net amortization:          
Securities     359 339  
Loans     284 296  
Right of use asset     272    
Changes in other assets and liabilities:          
Accrued interest receivable     696 (1,572)  
Other assets     (5,311) (3,391)  
Decrease in operating lease liability     (213)    
Accrued expenses and other liabilities     2,778 3,243  
Net cash provided by operating activities     11,562 7,359  
Cash flows from investing activities:          
Net change in loans     (66,270) (89,211)  
Purchases of securities available for sale     (9,918) (40,844)  
Principal repayments on securities available for sale     20,230 18,394  
Purchases of securities, restricted     (82) (220)  
Purchase of equity investment without readily determinable fair value       (2,410)  
Purchases of premises and equipment     (546) (374)  
Net cash used in investing activities     (56,586) (114,665)  
Cash flows from financing activities:          
Net increase in deposits     76,090 103,697  
Decrease in secured borrowings     (2) (6)  
Exercise of stock options     50 378  
Net cash provided by financing activities     76,138 104,069  
Increase (decrease) in cash and cash equivalents     31,114 (3,237)  
Cash and cash equivalents at beginning of period     30,562 43,077 43,077
Cash and cash equivalents at end of period $ 61,676 $ 39,840 61,676 39,840 $ 30,562
Cash paid during the period for:          
Interest     2,048 730  
Income taxes     3,016 $ 1,955  
Noncash transactions:          
Recognition of right of use asset on change of accounting principle     $ 3,640