XML 18 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Common Stock [Member]    
Net income  
Cash dividend declared on common shares and payable after period-end 401,000 $ 400,000
Preferred Stock [Member]    
Net income  
Cash dividend declared on common shares and payable after period-end 50,000
Net income 2,962,000 6,716,000
Provision for depreciation and amortization 1,397,000 1,126,000
Amortization of core deposit intangibles 130,000
Amortization of debt issuance costs 30,000
Compensation expense associated with stock options 18,000 33,000
Compensation expense associated with restricted stock 163,000 68,000
Net gain on sale or call of securities (192,000) (413,000)
Other than temporary impairment on investment securities 546,000
Amortization of investment premiums and accretion of discounts, net 1,256,000 1,424,000
Amortization of held-to-maturity fair value adjustments (79,000) (116,000)
Loss on cancellation of interest rate swap 2,325,000
Loss (gain) on disposal of fixed assets 2,000 (4,000)
Write-down of fixed assets 238,000
Write-down of other real estate owned 76,000
Loss on sale of other real estate owned 119,000 4,000
Decrease in deferred income taxes 363,000
Increase in cash surrender value of life insurance (461,000) (482,000)
(Decrease) increase in deferred compensation and salary continuation plans (26,000) 28,000
Increase in deferred loan fees and costs (285,000) (561,000)
(Increase) decrease in other assets (796,000) 669,000
Decrease in other liabilities (1,059,000) (1,165,000)
Net cash provided by operating activities 6,489,000 7,565,000
Proceeds from maturities of and payments on available-for-sale securities 25,660,000 18,328,000
Proceeds from sales of securities 46,699,000 61,255,000
Purchases of available-for-sale securities (70,892,000) (52,015,000)
Proceeds from maturities of and payments on held-to-maturity securities 4,310,000 849,000
Investment in qualified affordable housing partnerships (688,000) (863,000)
Net redemption of Federal Home Loan Bank of San Francisco stock 1,263,000
Loan originations, net of principal repayments (74,008,000) (51,452,000)
Net repayment on (purchase of) loan pools 12,316,000 (9,833,000)
Purchase of premises and equipment (2,067,000) (347,000)
Proceeds from the sale of other real estate owned 545,000 2,864,000
Payments to derivative counterparties for the termination of interest rate swaps (2,578,000)
Acquisition of branches, net of cash paid 142,411,000
Net cash provided (used) by investing activities 81,708,000 (29,951,000)
Net increase in demand deposits and savings accounts 54,607,000 6,727,000
Net decrease in certificates of deposit (31,896,000) (16,257,000)
Advances on term debt 55,000,000 240,000,000
Repayment of term debt (130,772,000) (240,000,000)
Proceeds from stock options exercised 4,000 152,000
Cash dividends paid on preferred stock (150,000)
Cash dividends paid on common stock (1,202,000) (1,199,000)
Net cash used in financing activities (54,259,000) (10,727,000)
Net increase (decrease) in cash and cash equivalents 33,938,000 (33,113,000)
Cash and cash equivalents at beginning of year 51,192,000 58,422,000
Cash and cash equivalents at end of period 85,130,000 25,309,000
Income taxes 3,444,000 3,650,000
Interest 3,884,000 3,486,000
Transfer of loans to other real estate owned 110,000 3,721,000
Transfer of fixed asset to other real estate owned 170,000
Changes in unrealized gain (loss) on investment securities available-for-sale 669,000 (957,000)
Changes in net deferred tax asset related to changes in unrealized gain (loss) on investment securities available-for-sale (276,000) 394,000
Changes in accumulated other comprehensive income due to changes in unrealized gain on investment securities available-for-sale 393,000 (563,000)
Accretion of held-to-maturity investment securities from other comprehensive income to interest income (79,000) (116,000)
Changes in deferred tax related to accretion of held-to-maturity investment securities 33,000 47,000
Changes in accumulated other comprehensive income due to accretion of held-to-maturity investment securities (46,000) (69,000)
Changes in unrealized loss on derivatives (348,000) (917,000)
Changes in net deferred tax asset related to changes in unrealized loss on derivatives 143,000 377,000
Changes in accumulated other comprehensive income due to changes in unrealized loss on derivatives (205,000) (540,000)
Interest rate swaps 2,721,000 1,005,000
Changes in net deferred tax asset related to reclassification of losses on derivatives (1,120,000) (414,000)
Changes in accumulated other comprehensive income due to reclassification of losses on derivatives 1,601,000 591,000
Vested restricted stock issued under employee plans 84,000 36,000
Transactions Related to Acquisition:    
Assets acquired - fair value 155,230,000
Goodwill 665,000
Liabilities assumed - fair value $ 149,239,000