XML 16 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Dec. 31, 2017
Cash Flows from Operating Activities          
Net income $ 3,858 $ 2,782 $ 7,414 $ 7,667  
Adjustments to reconcile net income to net cash provided by operating activities          
Provision for loan losses     940 980  
Depreciation and amortization     1,256 1,201  
Loans originated for resale       (2,529)  
Proceeds from sale of loans originated for sale       2,823  
Gain on sale of loans held for sale       (294)  
Net loss (gains) on the sale of OREO     8 (36)  
Gain on sales of investment securities       (133)  
Unrealized loss on equity securities 8   86    
Gain on sale of asset     (1) (47)  
Net amortization of premium/discount on investment securities     217 332  
Net accretion of merger accounting adjustments     (642)    
Amortization of core deposit intangible 193   597    
Increase in OREO valuation allowance     425 576  
Increase in cash surrender of bank owned life insurance     (673) (581)  
Decrease (increase) in deferred income tax benefit     110 (805)  
Increase in accrued interest receivable     (104) (515)  
Stock based compensation     349 399  
Compensation expense due to excess of fair market value over cost of leveraged ESOP shares released     29    
Increase (decrease) in net deferred loan costs     169 (636)  
Increase (decrease) in accrued expenses and other liabilities     117 (175)  
Decrease in other assets     2,779 1,198  
Net cash provided by operating activities     13,076 9,425  
Cash Flows from Investing Activities          
Purchase of AFS investment securities     (52,669) (16,831)  
Proceeds from redemption or principal payments of AFS investment securities     6,341 5,330  
Purchase of HTM investment securities     (9,360) (13,135)  
Proceeds from maturities or principal payments of HTM investment securities     14,316 14,185  
Proceeds from sale of HTM investment securities       3,569  
Proceeds from sale of AFS investment securities     34,919 3,702  
Net decrease (increase) of FHLB and FRB stock     4,933 (211)  
Loans originated or acquired     (238,696) (247,726)  
Principal collected on loans     221,393 187,475  
Purchase of premises and equipment     (866) (742)  
Proceeds from sale of OREO     982 903  
Acquisition net cash acquired     32,450    
Proceeds from disposal of asset     1,748 387  
Net cash provided by (used in) investing activities     15,491 (63,094)  
Cash Flows from Financing Activities          
Net increase in deposits     146,910 59,176  
Proceeds from long-term debt     20,000 10,000  
Payments of long-term debt     (55,048) (20,045)  
Net (decrease) increase in short term borrowings     (82,500) 12,500  
Exercise of stock options       155  
Dividends paid     (1,623) (1,353)  
Net change in unearned ESOP shares     (61) (823)  
Repurchase of common stock     (67)    
Net cash provided by financing activities     27,611 59,610  
Increase in Cash and Cash Equivalents     56,178 5,941  
Cash and cash equivalents - January 1     15,417 11,263 $ 11,263
Cash and cash equivalents - September 30 $ 71,595 $ 17,204 71,595 17,204 $ 15,417
Supplemental Disclosures of Cash Flow Information          
Interest     10,491 7,631  
Income taxes     2,549 5,085  
Supplemental Schedule of Non-Cash Operating Activities          
Issuance of common stock for payment of compensation     321 203  
Transfer from loans to OREO     282 3,622  
Financed amount of sale of OREO       $ 200  
Noncash Investing and Financing Items [Abstract]          
Assets acquired in business combination (net of cash received)     192,259    
Liabilities assumed in business combination     $ 200,660