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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash Flows from Operating Activities    
Net income $ 3,877 $ 1,221
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for loan losses 500 500
Depreciation and amortization 415 414
Net (gains) on the sale of OREO (10)  
Unrealized gain on equity securities (56)  
Net amortization of premium/discount on investment securities (44) 91
Net accretion of merger accounting adjustments (168) (323)
Amortization of core deposit intangible 181 205
Net change in right of use assets and lease liabilities 37  
Increase in OREO valuation allowance 61 90
Increase in cash surrender value of bank owned life insurance (218) (221)
Decrease (increase) in deferred income tax benefit (61) (50)
(Increase) decrease in accrued interest receivable (374) 187
Stock based compensation 76 105
Compensation (revenue) expense due to (deficit) excess of fair market value over cost of leveraged ESOP shares released (3) 9
Increase in net deferred loan costs (78) (32)
(Decrease) increase in accrued expenses and other liabilities (1,479) 99
Decrease in other assets 1,028 2,566
Net Cash Provided by Operating Activities 3,684 4,861
Cash Flows from Investing Activities    
Purchase of AFS investment securities (9,602) (5,532)
Proceeds from redemption or principal payments of AFS investment securities 3,124 1,907
Purchase of HTM investment securities (3,239) (982)
Proceeds from maturities or principal payments of HTM investment securities 3,982 5,053
Proceeds from sale of AFS investment securities   34,919
Net decrease (increase) of FHLB and FRB stock (52) 1,893
Loans originated or acquired (104,723) (67,772)
Principal collected on loans 85,072 78,582
Purchase of premises and equipment (415) (86)
Proceeds from sale of OREO 46  
Net cash acquired in business combination   32,287
Net Cash (Used in) Provided by Investing Activities (25,807) 80,269
Cash Flows from Financing Activities    
Net increase (decrease) in deposits 9,539 (19,530)
Payments of long-term debt (17) (10,016)
Net (decrease) increase in short term borrowings   (36,000)
Dividends paid (671) (543)
Net change in unearned ESOP shares (39)  
Repurchase of common stock (17) (3)
Net Cash Provided (Used in) by Financing Activities 8,795 (66,092)
(Decrease) Increase in Cash and Cash Equivalents (13,328) 19,038
Cash and Cash Equivalents - January 1 33,036 15,417
Cash and Cash Equivalents - March 31 19,708 34,455
Supplemental Disclosures of Cash Flow Information    
Interest 5,056 3,403
Supplemental Schedule of Non-Cash Operating Activities    
Issuance of common stock for payment of compensation 107 247
Transfer from loans to OREO 3,215 101
Financed amount of sale of OREO $ 280  
Business Combination Non-Cash Disclosures    
Assets acquired in business combination (net of cash received)   193,836
Liabilities assumed in business combination   $ 200,780