XML 23 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash Flows from Operating Activities:      
Net income $ 5,479 $ 4,483 $ 5,596
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 2,426 1,921 1,670
Provision for loan losses 625 600 1,204
Deferred tax expense 4,954 1,798 2,333
Net realized security gains (231) (150) (455)
(Gain) on sale of loans sold in the secondary market (1,130) (1,575) (873)
Origination of loans held for sale in secondary market (65,711) (81,693) (53,229)
Proceeds from sale of loans in the secondary market 66,841 83,268 54,102
Loss (gain) on sale other real estate held for sale 81 (10) 65
Writedown of other real estate held for sale 307 212 295
Stock compensation 398 600 576
Change in other assets 2,523 (10,282) 8,188
Change in other liabilities (818) 1,205 (6,380)
Net cash provided by operating activities 15,744 377 13,092
Cash Flows from Investing Activities:      
Net increase in loans (33,600) (56,237) (19,321)
Net decrease in interest-bearing deposits in other financial institutions 673 3,015 708
Purchase of securities available for sale (5,999) (16,105) (23,894)
Proceeds from maturities, sales, calls or paydowns of securities available for sale 16,011 26,689 35,091
Capital expenditures (2,377) (2,137) (1,341)
Proceeds from life insurance   301 263
Purchase additional FHLB Stock (531)    
Redemption of FHLBI Stock 330 15 804
Net cash used in Eagle acquisition and reimbursement of contract termination fee   (1,900)  
Net cash received in Niagara acquisition   2,453  
Proceeds from sale of premises, equipment, and other real estate 2,983 1,608 1,702
Net cash (used in) investing activities (22,510) (42,298) (5,988)
Cash Flows from Financing Activities:      
Net (decrease) increase in deposits (5,514) 49,491 3,350
Net activity on line of credit (750) (8,801) (3,367)
(Decrease) increase in fed funds purchased (6,000) 6,000  
Repurchase of common stock   (150) (1,122)
Dividend on common stock (3,022) (2,498) (2,179)
Proceeds from FHLB borrowing 25,000    
Proceeds from term borrowing   19,800  
Principal payments on borrowings (12,277) (174) (725)
Net cash (used in) provided by financing activities (2,563) 63,668 (4,043)
Net (decrease) increase in cash and cash equivalents (9,329) 21,747 3,061
Cash and cash equivalents at beginning of period 46,755 25,008  
Cash and cash equivalents at end of period 37,426 46,755 25,008
Cash paid during the year for:      
Interest 6,383 4,792 4,423
Income taxes 1,100 1,100 150
Business Combinations      
Fair value of tangible assets acquired (noncash)   188,537  
Goodwill and identifiable intangible assets acquired   2,845  
Liabilities assumed   175,209  
Noncash Investing and Financing Activities:      
Transfers of Foreclosures from Loans to Other Real Estate Held for Sale (net of adjustments made through the allowance for loan losses) $ 2,147 $ 3,292 $ 1,376