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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 14,143 $ 8,734 $ 3,644
Adjustments to reconcile net income to net cash used in operating activities:      
Provision for loan losses 1,850 1,375 905
Depreciation 506 421 411
Stock compensation expense 1,095 1,503 554
Deferred tax (benefit) expense (116) (370) 1,048
Net amortization:      
Securities 550 446 403
Loans 278 476 632
Right of use asset 382    
Changes in other assets and liabilities:      
Accrued interest receivable 613 (1,019) (1,295)
Other assets (4,974) (3,351) (2,309)
Operating lease liability (314)    
Accrued expenses and other liabilities 882 1,213 (14)
Net cash provided by operating activities 14,895 9,428 3,979
Cash flows from investing activities:      
Net change in loans (98,036) (119,609) (71,086)
Purchases of securities available-for-sale (28,202) (42,482) (58,503)
Principal repayments on securities available-for-sale 31,070 23,411 21,522
Purchase of securities, restricted (82) (400) (534)
Purchase of equity investment without readily determinable fair value   (2,410)  
Purchases of premises and equipment (647) (569) (190)
Net cash used in investing activities (95,897) (142,059) (108,791)
Cash flows from financing activities:      
Net increase in deposits 112,199 119,927 77,706
Decrease in secured borrowings (3) (189) (93)
Exercise of stock options 50 378 942
Proceeds from the issuance of common stock, net of issuance costs     26,341
Net cash provided by financing activities 112,246 120,116 104,896
Increase (decrease) in cash and cash equivalents 31,244 (12,515) 84
Cash and cash equivalents at beginning of the period 30,562 43,077 42,993
Cash and cash equivalents at end of the period 61,806 30,562 43,077
Cash paid during the period for:      
Interest 2,551 1,203 535
Taxes 5,149 $ 2,675 2,630
Noncash transactions:      
Exchange of preferred stock for common stock     $ 1
Right of use asset obtained in exchange for lease liability $ 3,640