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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities    
Net income $ 426,000 $ 1,777,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 300,000 400,000
Write down of other real estate owned 16,000
Depreciation and amortization 1,421,000 1,357,000
Stock based compensation 768,000 521,000
Gain on sale of investment securities (322,000)
Amortization of premiums on investment securities 593,000 756,000
Accretion of discounts on retained SBA loans (331,000) (346,000)
Fair value adjustments on SBA servicing assets 365,000 504,000
Proceeds from sales of SBA loans originated for sale 9,456,000 13,904,000
SBA loans originated for sale (5,566,000) (16,555,000)
Gains on sales of SBA loans originated for sale (502,000) (992,000)
Proceeds from sales of mortgage loans originated for sale 67,000,000 87,037,000
Mortgage loans originated for sale (58,555,000) (61,998,000)
Fair value adjustment for mortgage loans originated for sale 281,000 663,000
Gains on mortgage loans originated for sale (1,803,000) (2,185,000)
Amortization of debt issuance costs 1,000 2,000
Non-cash expense related to leases 282,000
Increase in accrued interest receivable and other assets (1,612,000) (504,000)
Decrease in accrued interest payable and other liabilities (2,613,000) (2,229,000)
Net cash provided by operating activities 9,605,000 22,112,000
Cash flows from investing activities    
Purchase of investment securities available for sale (75,142,000)
Purchase of investment securities held to maturity (61,083,000)
Proceeds from the sale of securities available for sale 24,757,000 0
Proceeds from the maturity or call of securities available for sale 10,636,000 12,716,000
Proceeds from the maturity or call of securities held to maturity 19,076,000 13,740,000
Net redemption (purchase) of restricted stock 3,657,000 (3,517,000)
Net increase in loans (41,172,000) (90,637,000)
Net proceeds from sale of other real estate owned 119,000
Premises and equipment expenditures (8,150,000) (3,563,000)
Net cash provided by (used in) investing activities 8,923,000 (207,486,000)
Cash flows from financing activities    
Net proceeds from exercise of stock options 240,553 429,972
Net increase in demand, money market and savings deposits 79,515,000 47,814,000
Net increase in time deposits 6,571,000 12,342,000
(Repayment) increase in short-term borrowings (91,422,000) 93,915,000
Net cash (used in) provided by financing activities (5,096,000) 154,501,000
Net increase (decrease) in cash and cash equivalents 13,432,000 (30,873,000)
Cash and cash equivalents, beginning of year 72,473,000 61,942,000
Cash and cash equivalents, end of period 85,905,000 31,069,000
Supplemental disclosures    
Interest paid 6,649,000 2,849,000
Conversion of subordinated debt to common stock $ 10,094,000