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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flows from Operating Activities:    
Net income $ 5,002 $ 5,499
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,560 1,801
Provision for loan losses 200 400
Deferred tax expense, net 1,331 1,125
Gain on sales/calls of securities   (38)
Gain on sale of loans sold in the secondary market (698) (873)
Origination of loans held for sale in the secondary market (39,568) (48,819)
Proceeds from sale of loans in the secondary market 40,266 49,692
Loss on sale of other real estate held for sale 46 28
Writedown of other real estate held for sale 56 270
Stock compensation 475 298
Change in other assets 1,044 3,382
Change in other liabilities (252) (1,999)
Net cash provided by operating activities 10,462 10,766
Cash Flows from Investing Activities:    
Net decrease (increase) in loans 2,767 (28,977)
Net decrease in interest bearing deposits in other financial institutions 4,225 673
Purchase of securities available for sale (1,989) (5,697)
Proceeds from maturities, sales, calls or paydowns of securities available for sale 60,245 7,441
Redemption of FHLBI stock   192
Capital expenditures (2,175) (2,195)
Purchase additional FHLBI stock   (531)
Acquisition of FFNM 13,268  
Proceeds from sale of other real estate, premises and fixed assets 1,988 2,012
Net cash provided by (used in) investing activities 78,329 (27,082)
Cash Flows from Financing Activities:    
Net (decrease) increase in deposits (43,655) 11,691
Net activity on line of credit (9,528) 545
Increase (decrease) in fed funds purchased 11,000 (6,000)
New term debt issuance   25,000
Principal payments on borrowings (52,530) (1,727)
Proceeds of common stock offering, net of offering costs 32,451  
Dividend on common stock (3,327) (2,266)
Net cash used in financing activities (65,589) 27,243
Net increase in cash and cash equivalents 23,202 10,927
Cash and cash equivalents at beginning of period 37,426 46,755
Cash and cash equivalents at end of period 60,628 57,682
Cash paid during the year for:    
Interest 5,831 4,651
Income taxes 725  
Noncash Investing and Financing Activities:    
Transfers of Foreclosures from Loans to Other Real Estate Held for Sale $ 778 $ 2,120