XML 18 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ 1,409,000 $ 6,169,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for loan losses 12,900,000 2,759,000
Accretion of discounts on acquired loans and deferred fees (537,000) (1,232,000)
Depreciation and amortization 345,000 324,000
Net amortization of premiums on investment securities 984,000 1,106,000
Securities gains, net (42,000) (121,000)
Mortgage banking income (4,617,000) (5,342,000)
Tri-Net fees (748,000)  
Net gain on sale of loans (67,000)  
Net loss on disposal of premises and equipment 137,000  
Net gain on sale of other real estate owned   (157,000)
Stock-based compensation 771,000 643,000
Excess tax benefit from stock compensation   (29,000)
Deferred income tax expense (445,000) 63,000
Origination of loans held for sale (409,179,000) (393,378,000)
Proceeds from loans held for sale 403,497,000 370,374,000
Net increase in accrued interest receivable and other assets (1,320,000) (2,021,000)
Net increase (decrease) in accrued interest payable and other liabilities (2,630,000) 1,077,000
Net cash provided by (used in) operating activities 458,000 (19,765,000)
Activities in securities available for sale:    
Purchases (11,754,000) (55,862,000)
Sales 34,299,000 46,700,000
Maturities, prepayments and calls 14,718,000 17,113,000
Activities in securities held to maturity:    
Purchases   (4,300,000)
Maturities, prepayments and calls 1,332,000 1,233,000
Purchase of restricted equity securities (2,767,000) (112,000)
Net increase in loans (49,154,000) (112,961,000)
Purchase of premises and equipment (1,074,000) (103,000)
Proceeds from the sale of premises and equipment 3,000  
Proceeds from sale of other real estate   373,000
Net cash used in investing activities (14,397,000) (107,919,000)
Cash flows from financing activities:    
Net increase (decrease) in deposits (37,228,000) 97,599,000
Proceeds from Federal Home Loan Bank advances 135,000,000 15,000,000
Payments on Federal Home Loan Bank advances (95,000,000) (30,000,000)
Issuance of common stock   21,928,000
Exercise of common stock options and warrants, net of repurchase of restricted shares 845,000 149,000
Excess tax benefit from stock compensation   29,000
Net decrease in repurchase agreements   (3,755,000)
Net cash provided by financing activities 3,617,000 100,950,000
Net decrease in cash and cash equivalents (10,322,000) (26,734,000)
Cash and cash equivalents at beginning of period 80,111,000 100,185,000
Cash and cash equivalents at end of period 69,789,000 73,451,000
Supplemental disclosures of cash paid:    
Interest paid 6,951,000 5,079,000
Income taxes 2,142,000 2,545,000
Supplemental disclosures of noncash transactions:    
Loans charged off to the allowance for loan losses $ 12,369,000 1,452,000
Loans transferred from held for sale to held for investment   $ 2,823,000