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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net income $ 6,583 $ 7,487
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision (credit) for loan losses (460) 57
Net amortization of securities 214 620
Loss on sales and calls of available for sale securities, net 0 1,022
Net unrealized losses on equity securities 69 0
Net change in loans held for sale 3,127 1,086
Net amortization of net deferred loan origination costs and discounts 181 (19)
Depreciation and amortization of premises and equipment 516 532
Amortization of core deposit intangible 151 247
Bank-owned life insurance income, including death benefit gains (276) (257)
ESOP expense 378 341
Deferred income tax benefit 895 428
Share-based compensation expense 1,349 1,408
Gain on exchange of investment in Northeast Retirement Services (653) (5,947)
Gain on sale of premises and equipment (271) 0
Net change in:    
Accrued interest receivable 318 63
Other assets (6,483) 543
Accrued expenses and other liabilities 743 (3,717)
Net cash provided by operating activities 6,381 3,894
Activity in securities available for sale:    
Purchases 0 (9,507)
Sales 0 44,855
Principal paydowns 0 3,364
Activity in securities held to maturity:    
Purchases (9,695) (8,086)
Principal paydowns 9,143 7,099
Loan originations and purchases, net of paydowns (1,513) (55,641)
Net purchases of premises and equipment 643 (356)
Purchase of FHLBB stock (2,969) (1,870)
Redemption of FHLBB stock 4,344 394
Proceeds from exchange of investment in Northeast Retirement Services 308 1,595
Net cash provided by (used in) investing activities 261 (18,153)
Cash flows from financing activities:    
Net change in deposits, excluding brokered deposits 50,342 70,318
Net change in brokered deposits (12,373) (22,283)
Net change in short-term borrowings (35,000) (28,000)
Share redemption for tax withholdings for restricted stock vesting (325) (107)
Proceeds from exercise of stock options 508 180
Common stock dividends paid (10,889) (1,196)
Net cash provided by (used in) financing activities (7,737) 18,912
Net change in cash and cash equivalents (1,095) 4,653
Cash and cash equivalents at beginning of period 46,167 30,496
Cash and cash equivalents at end of period 45,072 35,149
Supplementary information:    
Interest paid 5,611 3,806
Income taxes paid, net of refunds 1,348 46
Other real estate owned acquired in settlement of loans 3,649 0
Common stock dividends declared $ 10,889 $ 1,196