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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ 3,166 $ 14,437
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 919 863
Amortization of deferred loan fees (847) (889)
Net amortization of premiums and discounts on securities (202) 318
(Reversal of) provision for loan losses (650) 150
Write-downs and losses on real estate acquired through foreclosure, net of gains 139 149
Gain on sale of mortgage loans (1,150) (2,693)
Gain on sale of securities (2) 0
Proceeds from sale of mortgage loans held for sale 28,482 107,468
Originations of loans held for sale (22,556) (104,533)
Stock-based compensation 146 143
Increase in cash surrender value of bank owned life insurance (23) 0
Deferred income taxes 2,081 (10,916)
Increase in accrued interest receivable (254) (44)
(Increase) decrease in other assets (837) 384
Decrease in accrued expenses and other liabilities (1,731) (2,938)
Net cash provided by operating activities 6,681 1,899
Cash flows from investing activities:    
Loan principal (disbursements), net of repayments (40,265) (14,448)
Redemption of restricted stock investments 404 396
Purchases of premises and equipment, net (287) (740)
Purchase of bank owned life insurance (5,000) 0
Activity in securities held to maturity:    
Purchases (6,679) (3,562)
Maturities/calls/repayments 10,730 11,700
Activity in available-for-sale securities:    
Purchases (7,184) 0
Sales 4,011 0
Maturities/calls/repayments 184 0
Proceeds from sales of real estate acquired through foreclosure 433 1,622
Net cash used in investing activities (43,653) (5,032)
Cash flows from financing activities:    
Net increase in deposits 21,546 32,839
Additional borrowings 39,950 10,500
Repayment of borrowings (50,000) (18,500)
Proceeds from common stock issuance 207 10,510
Net cash provided by financing activities 11,493 4,035
(Decrease) increase in cash and cash equivalents (25,479) 902
Cash and cash equivalents at beginning of period 67,114 43,591
Cash and cash equivalents at end of period 41,635 44,493
Supplemental Information:    
Interest paid on deposits and borrowed funds 5,828 9,104
Income taxes paid (recovered) 50 (852)
Real estate acquired in satisfaction of loans 703 1,370
Transfers of loans held for sale to portfolio 660 0
Series A Preferred Stock [Member]    
Cash flows from financing activities:    
Preferred stock dividends (210) (140)
Series B Preferred Stock [Member]    
Cash flows from financing activities:    
Preferred stock dividends 0 (7,781)
Stock redemption of Series B preferred stock $ 0 $ (23,393)